Malaysia Real Estate

Ryujynn · Joined: 28 Jun 2008 Posts: 3

Hi all, I am a first time property buyer. I have an urgent issue here.
Here go the story:

Firstly, I appoint my own lawyer to prepare the S&P for my first property instead of using supplier's lawyer.
Everything is going smooth at the beginning when the lawyer preparing all the S&P documents for me to sign, and I sign the S&P around

5th of May, 2007.

I am not sure about the processing date by then, I heard people telling me is around 2 weeks processing days to release the first payment to the developer.

Then I received a letter from developer saying the first payment have to made before or on 31st of May, so which mean I sign the S&P earlier and should be able to make the first payment right on time.

Then I realized, the bank made the first payment on

11th of July, 2007

after they sent me a letter notified me already made the first payment, before that, I asked the bank and the lawyer to make sure everything on schedule, and both of them also say no problem and no extra charges will be made.

Seem like everything going well for me at that time, so I am now waiting my house to complete.

BUT...

After 1 year, I received a letter from the developer , just on May, 2008. The letter mentioned they are going to charge me interest for around RM 1.4K because I made the first payment late after 31st May 2007!!! Now I am really confuse and pissed off, then I called my bank and lawyer firm to ask why got interest charges, and I only knew after ONE YEAR!!!

First, the bank is honestly told me, they made the first payment ONE WEEK late than they first received the order to release the first payment. Which mean around

4th July, 2007

Then they told me to write a letter to the developer to waive off the 1 week interest charges if that RM1.4K is because of that. But on second thought, how come 1 week interest will charge so much, so I am very curious that time, then I call my lawyer to ask about the interest charge on me.

They are very irresponsible and never try to protect me. (Have to emphasize: that lawyer firm is my girl friend's relative lawyer firm). Their staff told me developer have the rights to charge me interest, after I heard that, I was like WTF...

I am very pissed off, so I called up the developer, and guess what, they told me my lawyer told the developer that I signed the S&P TOO LATE!!! What the heck...

I suspect the delay process must be came from the lawyer, they are the one processing the S&P slow. Now I am trying to ask the lawyer to wave or do something to clear this interest that going to charge on me. And I don't believe is my fault to delay the process, where by I sign the S&P on time.

It would be appreciate, that anyone can help me and give me some advises on this issue? RM1.4K to some people is not much, but for me is a big amount, that I can buy a lot of things.

I need help A.S.A.P...

My colleague told me to report to tribunal, but I am not sure that will work, so I would like to listen to more advise on what should I do now to clear that RM1.4K interest that the developer going to charge me. I am now very worry I won't get the key if I refuse to pay them.

PLEASE HELP!!!!!!

expired · Joined: 14 Jun 2008 Posts: 38

Do u mean signing the loan agreement or S&P? i believe it's loan agreement delayed, it doesn;t matter if it is the same lawyer.

check back the stamping date of ur documents, if u r so sure about the date u signed ( which they usually ask u not to write ur signature date), and the lawyer delayed in stamping it, then the bank might release the payment slow.
_________________
I m noob in property

Ryujynn · Joined: 28 Jun 2008 Posts: 3

Thanks for the reply, I will check for the stamping date.

But I remember that is the S&P the lawyer ask me to sign, and I sign a lot of pages and documents, so I believe that is S&P.

So do you think is there anyway I can complain the lawyer and waive the interest?!

I really need some expert to help me on this issue...... Urgent......

Ryujynn · Joined: 28 Jun 2008 Posts: 3

If nobody can help in this forum, can anyone suggest who should I seek for advise for this kind of cases?

Tribunal? Or ?

I am very nervous to this because I need to pay extra RM 1.4K, which is mean a lot to me as I am not a high income worker...

Please help...

cynthusc · Joined: 16 Sep 2005 Posts: 306

perfex · Joined: 13 Nov 2007 Posts: 7 Location: Kuala Lumpur

taylormade · Joined: 10 Jan 2008 Posts: 8

i'm having the same stupid problem with LOW YAT for the STUPID RIVERCITY condominium..I have been advised by a property expert to lodge with Small Claims Tribunal Court to get the bank/developer to absorb this fee as its their fault.

If no one makes any complains, developers will continue to charge these payments to non fussy customers. This is a serious loophole which the bank officer/lawyer office and developer can play hand in hand to milk customers.