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14 comments
May I know it is legally correct for developer to request 10% of downpayment upon signing S&P agreement when the permit is not yet granted?? Please advice...
Thank you,
Viv
Viv,
I think the law is silent about this, but it's definitely illegal to stamp the S&P without the necessary pernmits.
Since the law is silent, it's up to the willingness of both parties.
How can I get information about the execution of a Warrant of Attachment for a strata property. I am getting conflicting info, some say you cannot enter the premesis with the Warrant without the owner's consent. The Strata Title act says you can....how can I get clarification
I have a problem & hope someone can help or advise.
Last month i booked a unit of bayu feringghi condo somewhere around christmas and i paid the booking fees to the sole marketing agent by cheque at the site office as the developer does not have an office in Penang. He let me sign a booking form stating the price, unit no, my name i/c no etc.
A few days later, he told me there are many buyers looking for my unit as it is the last unit at that block. When i quiried him, he assures me that the unit is mine as i have paid the deposit for it.
A few days later he told me that the unit might be classified as a bumi unit and have to wait for confirmation from the developer as their sales has reach bumi quota. He assures me that i have nothing to worry as if my unit is under bumi unit, it is only temporary until the completion reaches 80% and the developer will declassify it from bumi status. However, i cannot sign the s&p yet but i have to sign a supplemental agreement stating the unit and purchase price and i have to increase my deposit by another 10k. Being a purchaser of a bumi unit i will stand to "enjoy" some benefits like the price will remain the same after the bumit unit is released. That means buy now but pay later. And i get to save a few thousand on the housing loan interest as all i need to pay now is the deposit and the balance until the completion has reached 80%. which is about a year later. I gave the agent another cheque for the extra deposit. He did not give me any receipt but acknowledge receipt on the photocopy of the cheque.
A week later, the agent call me and congratulates me as the developer has confirmed that my unit is classified as a bumi unit. He says the solicitor will call me to sign a supplemental agreement soon but i have to change my cheque to pay to the solicitor's firm instead of the developer's name. He will return my previous cheques which he has not paid in yet in exchange for the new cheques.
Yesterday, the agent called me to inform that he wants to return me my cheque and cancell my booking due to objection by some of the directors of the developer. It seems that one of the directors has agreed to sell the bumi units at first and has proceed to do so but the other directors is not agreeable later on.
I feel very angry and cheated.
How can a reputable developer which is listed on the main board of Bursa do such things? And the marketing agent is also reputable being one of the best not only in Penang but worldwide as many of their clients are from MM2H. The agent made many beautiful but very empty promises. Their agents are also listed on this very web site.
What i want to know is can the developer cancell my booking after accepting the deposit for almost a month although they have not paid in my cheque?
I am planning to take some legal action but i need to know if there is any buyer out there facing the same problems? The agent told me there are also other units affected.
Can i lodge a complaint perhaps the Housing Ministry? I would also like to made complaints against the housing agent. Are they licenced? By whom?
Please advise me if you know.
Thank you.
Dear Ben,
I am a property agent,and i can understand ur frustration,my best advice---get a legal advice from a lawyer,take all receipts and show to the lawyer and tell the lawyer from start to bottom the story.I think u have been cheated and if u really really wanna hurt their image,call few reporters and cerita to them.Dun go to police,as u know police slow action.
This is my advice,wanna follow or not up to u.
Hi Ben,
From all your information, you have been played around like fool. However, all things happened only between you and the agent. And even the S&P is not signed and nor complete transaction. Furthermore, you are paying the deposit in the site office, are you sure that is the correct sales office? Is it the real agent from the sole marketing company?
My opinion, you may not have strong case, unless you have document or receipt to prove. Receipt must have company chop, else it is only personal dealing.
You must consult lawyer on this.
a registered real estate agent will be license by Board Of Valuer and Real Esaate agent of malaysia, you can find out from them whether they are licensed real estate agent
does anyone know about under taking letter ? Currently the deleveloper would like charging me 1% of selling price to release under taking letter as this apartment still not getting title yet !! anyone can advise?
I recently bought a apartment from property agent. I suspect he is also the seller. Apartment is under husband & wife name. Agent did not ask me to sign confirmation on giving 1 % broker fee (commission). S&P will be ready for signing next week.
My questions:
1) Do I still have to pay him the commission since he is the seller?
2) He asks me to issue cheque (commission) to his manager whom I suspect is his close relative (sister) as same surname. He said I have to pay extra on 5% goverment tax if I ssue to his company. Is it true?
I hope someone can advise me.
Thank you.
May I know what is the latest Property Tax news/rule?
the last round i heard is 5% (sell <5years), 0% (sell > 5years).
HELP!!! My uncle just sold his shop but his long time tenant refuses to leave. For about half a yr now, they did not sign rental agreement as my uncle had the intention to sell his place. So out of goodwill, they verbally agreed to continue on a monthly basis. Now tenant is claiming he has nowhere to go and he can take up to a yr or more to move out.
Anyone can advise what course of action my uncle can undertake to evict this difficult tenant? Thanks.
1. Can report police that tenant is overstaying without agreement? He has been paying minimal rent and my uncle has been issuing him with a monthly receipt. What if my uncle stops collecting his rent with immediate effect and report police?
2. What about serving him with a new agreement at a high rent and if tenant doesn't want to sign, that constitutes he is unwilling to be my uncle's tenant any longer?
3. Is there such a court order that can be taken to lock up the whole place? Caveat or something?
4. I heard someone mentioning about bailiff? Can this help?
I signed the S&P agreement but when come to the payment i just realized i have no sufficient fund due to some reason.
1) Can i terminate the agreement since no down payment is successfully made?
2)What is the legal action can the vendor take?
3)How much penalty need to pay?
Thanks a lot for your help. Much appreciated
HI, may i know the meaning of "as is where is basis"? does the vendor bears no guarantee at all after property handover in certain time periods in terms of damage like pipe leaks, wall crack, faulty wire, etc
i sole my property & i feel cheated that s&p state that the balance of the purchase price will pay within 90 working days.. what is normal 'completion date'? as i tot 3 calendar mths. feel sad to the lawyer