@ebayer,
Unless U know the loan processing officer, I don't think it's possible to forge that document. If U truly have the intentions to not want the house, U should do something about it quick because U did mention the surcharge penalty is higher based on building progress.

Just a question but where on earth do U find a RM120k unit these days?

Also, U might want to take into account/consideration the total monies forfeited; would U be better off holding onto the property?

This post has been edited by tinkerbel: Jul 4 2008, 03:34 PM

somehow i feel going to jail for forgery and cheating is more serious than losing 12k. anyone here agree with me or am i just weird?

@johnsonm,
You're absolutely right! I wouldn't want to do that cause that wouldn't be ethical and I want to live with a clear conscience.

As suggested, if I could afford to hold the property [since I oredi bought it], I'll hold onto it and make a quick sale as soon as the opportunity arises.

a fren of mine did it anyway. One of the bank officer is his fren. Got the bank to release a letter stating fren not eligible for bank loan. So he got back his deposit.

True but loan applications are private and confidential and the developer would have no way to check whether you are telling the truth as long as the letter looks legit.

It is not like they can call up the bank and ask whether so and so's loan has been approved right? I might be wrong though.

---

Added on July 5, 2008, 12:59 pmWhat did the letter say? Does it have an official letterhead from the bank?

This post has been edited by ebayer: Jul 5 2008, 12:59 PM

This from someone who works in marketing... (/jk)



This would be the best decision IMHO as well. Bit of a gamble though, with luck it will expand, and maybe there will be better public transport, and then the value will increase and eventually your descendants will benefit if not you.

actually, if the developer does want to make an issue out of it, and takes the case to court, you will have to show your income documents in full. once that is done, i think it will be clear that you are eligible for a loan from any bank.

another thing, i dont think the developer is going to accept 1 rejection letter. they might expect you to try at least 5 banks, and get 5 rejection letters.

how about getting an job offer letter from oversea to work oversea to show tht the buyer won't be in malaysia anymore, so wanto back out ? anyone tried b4?

another thing to point out.
although construction price increase 30%, the house wont increase 30% as well.
For a normal house, the true value is the location.. especially in penang.
So if u're buying 300k condo, most probably 200k goes to the location and the building material only cost 100k.
Even got increse also 100k X 30% instead of 300k X 30%