Bro and Sis, I placed a booking fee to the developer for a new house. But i change my mind and no more interested with it.
Also, already submitted document for home loan, in the process

How to cancel the booking and get full booking fee refund ha?
My friend told me to book a super expensive car to burst my ccris so that the home loan cant get tru to get full booking fee refund. It is way works? If not what is the best way?

If u have a closed banker, can just ask banker to inform developer to inform the loan is cancelled or something. But sometimes developer wants a letter from banker. so it will be hard

This post has been edited by Chady: Nov 21 2024, 10:36 AM

How old are you and your friend? Look at the booking receipt or form, see what are the conditions for refund process.

For eco world, full refund within 30 days upon buyer inform, regardless loan pass or not, unless buyer so hai went to sign loan offer letter then they need to reimburse the bank for their end.

Some developer will have more strict condition applied, like if loan is successful but buyer change mind, then need to pay RM500 or certain percentage of booking fee for processing cost. Full refund only available if loan is unsuccessful.

Lastly, how significant is your booking fee until you can risk with your credit record?

or u can try to miss your credit card payment for 1 month, see your loan can go thru or not ...

how old not relevant la bro, i just asking only

my developer no full refund upon inform policy, full refund only happen upon loan application failure

about the credit record risk, actually it is calculated risk, a risk i can take, bad record in ccris will be erased clean after certain period, 3 months or something like that, tats why......

Bro, what property did you buy? Residential? Have you signed the sale and purchase agreement? All this is relevant info to help folks advise you better

just make sure your loan doesnt go thru then they will know you hard time and do full refund.

spot on, tats what im asking, i.e. how to make sure my loan can not get tru

yes residential
no not yet snp, now is just after pay booking fee and submit loan doc for loan application

This post has been edited by Nanti Sekejap: Nov 21 2024, 01:27 PM

Then you are in a good position legally. Developer not allowed to collect any booking fee under law for residential property under construction. You can refuse to sign SPA and ask for full refund and they have to refund you otherwise you can complain to KPKT (housing ministry) and their license will be under threat. Loan reject is for when you have already signed SPA but want to cancel.

How significant is your booking fee? And how much the developer will deduct on it?

huh? meaning loan approved already and signed riao spa, then 'make' a loan reject? Am i understanding it right what you said?

btw, thanks for the information of developer cant collect booking fee for under construction project, i dono that b4. Good info and will check in out

5k only, not not deduct, they said if song song change mind then forfeit

developer not allow to collect booking fee from you. the most they can charge you admin fees only. all payment is refundable as long as u dont sign the SPA

Just cancel and make a big hoohaa until full refund lo

Wah, how much you buy oh? Last time my one mil house only pay 1k and is fully refundable.

Few hundred admin fee is okay la, but fully forfeit I never heard before. And i doubt they dare to forfeit your 5k too. If they insist to do so, make sure they give you receipt and black and white.

You make sure don't sign any letter offer from bank, and insist you want refund. Put the request in email and talk to the person in charge directly. I think the agent or staff try to scare you only la.

If signed SPA then really cannot get loan, with the rejection letter from bank (developer may ask for 2 letters), you can cancel SPA and get refund less some admin fee (RM500 i think). Be smart a bit and convince 2 bankers to tolong you. But if 1 bank approve, then developer wont refund lo. That is why Developer will push their panel banks to you so buyers cannot simply get rejection letters. And the big developers won't sign SPA until you obtain a loan, which is your case.

If your loan not yet approved, maybe try the tactic to self declare to the bank that you now have further financial commitments like alimony, long term medical care and support or job insecurity (just being placed under Performance Improvement Plan by employer) and etc.

Usually for bad news, bank will not ask for supporting, unlike the other way round.

No harm trying your luck.

He just explaining on how the loan rejected case can happens. NEVET ever sign SPA if you don wan to buy.

Nowadays some developer will be informed by banker once your loan application is approved, and use that as reason to charge " administration fee" for their time cost. Which I think is fair too.

Storm to their sales gallery and ask the PIC come out to explain in front of you, by how they can fully forfeit your booking fee.

thanks all sifus, i will go there talk to him directly

i feel so much better after read all these info from you guys. tq

why cancle it...?

i found agent sell other identical unit cheaper than the developer sell 1

btw, cant refund :_(
the whole project not yet finish, but that particular unit i booked they said completed