Asked by Anonymous
Dear fellow knowledgeable seniors out there,
My wife and I were trying to buy a 3 storey terrace at Melaka, an under construction property.
The issues only sprouted when the developer/vendor is charging us RM3194.80 (10% per annum x 23 days on RM507,000) because of the late loan disbursement by bank (late by 23 days).
We felt really annoyed and truly innocent as we not only hired the same lawyer for all the agreements (Panel lawyer appointed by developer), but also the reputable bank and its insurance company (appointed by bank).
We have done all the necessary procedure as a Purchaser and submitted documents without much delay, but developer, banker and insurance, these 3 parties keep pushing the blame around.
Date Event
28/09/2016 Date of Booking for property
06/12/2016 Letter of Offer signed at Maybank
28/12/2016 Sales Form and Letter of Offer from Developer received by Lawyer for Sale and Purchase Agreeent (SPA), Deed of Mutual Covenant (DMC) and loan documents preparation
04/01/2017 Lawyer received Letter of Instruction from Bank
05/01/2017 Purchaser received email from Medicheck demanded for Guarantee Letter and Asthma Questionnaires
06/01/2017 Guarantee Letter and Asthma Questionnaires sent and received by Medicheck
13/01/2017 Purchaser signed SPA, DMC and Loan Documents
16/01/2017 Lawyer forwarded the duly executed SPA, DMA , Loan Documents to Developer awaiting its Director execution.
18/01/2017 Lawyer Fees paid by Purchaser
23/01/2017 Developer returned the duly executed SPA & DMC to Lawyer
25/01/2017 Lawyer sent SPA & DMC for stamping
26/01/2017 Stamped SPA & DMC forwarded to Developer
27/01/2017 Loan Documents executed by Purchaser were sent to Bank
02/02/2017 Purchaser received email from Medicheck demanded for further Atopy Dermatitis (Skin Condition) Questionnaire and Consent form for Medical Report in Hospital Muar
06/02/2017 10% Down Payment paid by Purchaser, Lawyer received Letter of
My wife and I were trying to buy a 3 storey terrace at Melaka, an under construction property.
The issues only sprouted when the developer/vendor is charging us RM3194.80 (10% per annum x 23 days on RM507,000) because of the late loan disbursement by bank (late by 23 days).
We felt really annoyed and truly innocent as we not only hired the same lawyer for all the agreements (Panel lawyer appointed by developer), but also the reputable bank and its insurance company (appointed by bank).
We have done all the necessary procedure as a Purchaser and submitted documents without much delay, but developer, banker and insurance, these 3 parties keep pushing the blame around.
Date Event
28/09/2016 Date of Booking for property
06/12/2016 Letter of Offer signed at Maybank
28/12/2016 Sales Form and Letter of Offer from Developer received by Lawyer for Sale and Purchase Agreeent (SPA), Deed of Mutual Covenant (DMC) and loan documents preparation
04/01/2017 Lawyer received Letter of Instruction from Bank
05/01/2017 Purchaser received email from Medicheck demanded for Guarantee Letter and Asthma Questionnaires
06/01/2017 Guarantee Letter and Asthma Questionnaires sent and received by Medicheck
13/01/2017 Purchaser signed SPA, DMC and Loan Documents
16/01/2017 Lawyer forwarded the duly executed SPA, DMA , Loan Documents to Developer awaiting its Director execution.
18/01/2017 Lawyer Fees paid by Purchaser
23/01/2017 Developer returned the duly executed SPA & DMC to Lawyer
25/01/2017 Lawyer sent SPA & DMC for stamping
26/01/2017 Stamped SPA & DMC forwarded to Developer
27/01/2017 Loan Documents executed by Purchaser were sent to Bank
02/02/2017 Purchaser received email from Medicheck demanded for further Atopy Dermatitis (Skin Condition) Questionnaire and Consent form for Medical Report in Hospital Muar
06/02/2017 10% Down Payment paid by Purchaser, Lawyer received Letter of
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