I'm from Malaysia. I bought an apartment which shouldve been completed at the end of 2006. I signed my sales purchase agreement in March 2003. Now the project has been taken over by another company because the original developer wasnt able to complete it. What compensation can seek and how? Who can I refer to? The lawyer whom i signed my spa wasnt able to provide me with satisfactory answer.
2007-07-16 21:00:12 · 3 answers · asked by hisham d 2 in Business & Finance ➔ Renting & Real Estate
Ministry of Housing and Local Goverment Malaysia (Kementerian Perumahan dan Kerajaan Tempatan) has set up theTribunal for Home Buyer Claims to provides an easier, cheaper and faster means of dispute resolution for homebuyers claiming compensation/damages from housing developers.
The National House Buyers Association of Malaysia might help you too. You can get useful tips from their website. Check it out.
2007-07-17 04:21:43 · answer #1 · answered by malaysiainsuranceguide 3 · 0⤊ 0⤋
I would go to the developer and tell him point blank that you want out of the contract. Go straight to the person with the decision making ability.
With major projects like that...the closing date is estimated...but it's July 2007, and their financial problems are not yours. Sellers do not have the right to drag a project on for months on end and expect people to wait.....how much has the interest rates went up since you started?
I would go see an independent Real Estate attorney to discuss your options, and your attorney should have been able to guide you in the right direction.
2007-07-17 05:57:52 · answer #2 · answered by Expert8675309 7 · 0⤊ 0⤋
Sue the previous construction company
2007-07-17 04:03:54 · answer #3 · answered by Questinaire 1 · 0⤊ 0⤋