The committee receives several phone calls from the purchasers of Blok PKS and PKSR alleging that they have been receiving phone calls from the developer office to send in a letter terminate their SPA on the basis that the developer do not want to built this two blocks.
The committee would like to advice that
1. DO NOT ENTERTAIN ANY SUCH PHONE CALLS – Ask the developer to write officially.
2. MAKE SURE IT IS A MUTUAL TERMINATION WITH COMPENSATION BEING PAID.
3. PLEASE BE AWARE IF PURCHASERS WERE TO TERMINATE THE SPA, THEY RISK FACING THE FOLLOWING :
a. The buyer may lose 10% deposit
b. The buyer will be charge by the bank 3% if they take loans for termination of the facility.
4. DO NOT TERMINATE INDIVIDUALLY. DISCUSS COLLECTIVELY WITH ALL PURCHASERS.
5. DEMAND THE FOLLOWING
a. Refund all deposits that has been paid
b. All legal cost that has been paid
c. Compensation on interest loss on the deposit
d. Any bank charges
e. Other Charges.
The committee advice that ALL BUYERS TO TAKE NOTE OF OUR ADVICE. Do not be cheated. The committee has written to the developer and express our objection and dissapointment
Dr Mohd Rafick