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Size of property differ from S&P

 
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alvinjblau



Joined: 01 Jun 2011
Posts: 1

PostPosted: Wed Jun 01, 2011 10:00 am    Post subject: Size of property differ from S&P Reply with quote

Hi, I recently paid an earnest deposit for a subsale property through an agent. All these while i was under the impression that the property is about 1.2k sq ft. But when i hired a lawyer and started with the loan agreement and legal docs, the owner's s&p indicates the size to be more than 100sq ft smaller. What can/shall I do? I like the unit, but i feel cheated at the same time.
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erizzzzz



Joined: 16 Jun 2011
Posts: 7
Location: Bangi

PostPosted: Mon Jun 20, 2011 2:19 am    Post subject: Reply with quote

this could happen as sometimes the agent didnt get the full details of the property.

what is important is the status of the property, whether i can be sold or not, price and age of the property.

also, the mistakes did not happen during or after u signed the agreement.
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hfchuraymond



Joined: 11 Jun 2009
Posts: 606

PostPosted: Wed Jun 29, 2011 12:25 pm    Post subject: sub-sale adjustments Reply with quote

Unfortunately, in sub-sales, there is no adjustment scale values for differences in the total built-up area found on the agreement that differs form the unit as is where is basis location.

However, you may bring your argument before the Housing tribunal if you think that your unit could be smaller than other units during its construction stages by the developer. That means you got to get hold of the first sale & purchase agreement, especially, if a Deed of Mutual Covenants ia also provided.
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