Lowyat.NET: Latest topics by House Buyer

Deed of Receipt and Reassignment

House Buyer — Tue, 21 May 2013 09:10:29 +0800

Dear Property Si Fu,

I signed a S&P some 9 years ago for a house and obtained a home loan facility then. However the project was delayed / abandoned. The bank has disbursed some RM25++K.

During that time, I approached the bank to pay back whatever disbursed to developer, and the bank approved; and I paid back.

Since now that the house is going to be completed, keys to be handed-over in a few months time, I was asked by the developer to get a Deed of Receipts and Reassignment (DRR). However, the lawyer in charge of the loan agreement said that there is no need as the bank has not done any charge on the property.

I am in a dilemma as the lawyer said no need DRR but the developer insisted on DRR. According to developer, if no DRR, I will have problem with title transfer.

What is the proper procedure? Kindly advise so that I know what to do?
Looking forward to your kind advice. Many thanks.

Taman Tasik Prima Lake View

House Buyer — Mon, 08 Jun 2009 08:44:22 +0800

Anyone here have any idea of Lake View Double Storey and 2 1/2 Stoery houses at Lake View, Taman Tasik Prima, Puchong? The price, the area, the land, etc.

The area is developed by Bolton and Prima Nova. It is priced at approximately RM260k to RM380k.
Is it a good buy for investment or stay? Kindly provide your comment.

Thank you.

Abandoned Project

House Buyer — Fri, 31 Oct 2008 08:57:34 +0800

I bought a house in Section U4 Shah Alam (Subang 2) under the developer Juta Permai (a subsidiary of Merge Housing). The unit is supposed to be completed in 2007 but it has been delayed, where the project halted in early 2007 (already nearly 2 years).
I have sought the help of Kementerian Perumahan dan Kerajaan Tempatan (KPKT), written nearly 5 or 6 correspondnece, but seems like still no progress. Each time, I received the same or similar answer from KPKT.

Does it mean that the developer has more "say" than the authorities, or the authority does not have authority to act?

I am confused as to who should I seek help from?
Bear in mind, we, the victims of delayed/abandoned projects, are now servicing our monthly housing loan interest to the bank, while the developer, Juta Permai, after selling a plot of land to HELP University for RM21 million can just continue to relax...

Anyone have any idea who can help us? Thank you.