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 Developer Liquidated & No Strata Title, Whatelse I can do to sell?

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r-10 P
post Mar 1 2023, 10:40 PM

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Joined: Oct 2021
QUOTE(elon_musk_my @ Mar 1 2023, 09:48 PM)
Hey everyone,

I'm really hoping someone can help me out here.  cry.gif
I'm in a bit of a mess with my condo in Klang Valley.
The developer has gone under liquidation recently and it's been 6 long years without anyone getting the strata title.

I spoke to lawyer and they told me it's almost impossible to sell without the strata title. Is it because buyers can't get loans without it?
They say only cash buyer should be ok and i dont think there are many cash buyers out there.
I'm feeling so helpless and don't know what to do.

Do I have to wait for another company or developer to take over before I can get the title?
Even if that happens, how long will it take?
What if no body take over?  doh.gif

I'm really freaking out because I need to sell this condo for personal reasons,
and renting it out is going to be a huge hassle.

To be honest, I'm regretting buying this place when I was just 21.  doh.gif
I should have done more research and not just trusted what the agent told me.  bangwall.gif

If any of you have any advice or have been in a similar situation, please share it with me. I would greatly appreciate any help or guidance.  notworthy.gif

Thanks guys, I really appreciate it.  notworthy.gif
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You are already lucky that they liquidated only after handling over the unit with CF. There are many who got stuck without even a sight of the pillars of what they purchased for.

Since your unit is all completed and lesser than 10 years, it should still be able for buyers to get loan. Depends on the condo and the area, certain banks will still value that. Try PBB, UOB, ABB. And find a lawyer who is familiar in dealing with such situation.


 

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