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Jalan 3/141, Kampung Malaysia Tambahan 57100
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Liquidated Damages Claim
Category : Buying Property in Malaysia Location : Selangor
To: Iproperty, I had some queries regarding the Liquidated Damages Claim. Please assist to advise. I purchased a 3 storey house in year 2014. According to the SNP agreement, I am supposed to receive my house 24months from the SNP agreement date which is 24 June 2014. However, I had only received the "Notice of delivery of vacant possession dated 30th June 2016" on 12 July 2016. Furthermore, I was informed by Developer that my house is NOT ready for handover yet as it was still ON_HOLD by Developer QAQC team due to several defects that need to be rectified. After several telephone follow-up and emails,then I finally received a memo to get my new house keys only on 08 August 2016. According to the SNP agreement, since vendor failed to deliver the vacant possession of the said building within 24 calendar months from the agreement date, vendor shall be liable to pay to purchaser liquidated damages from the expiry date of the delivery of vacant possession. This should be a liquidated damages claim as i need to begin serving the bank loan and yet i also need to incurred spending cost for my current staying place. My argument is as below : Expiry date of the delivery of vacant possession by vendor to purchaser : 24th June 2016 Date Purchaser take vacant possession of the said building (received the "the delivery of vacant possession by vendor shall be supported by a certificate of completion and compliance certifying that the said building is safe and fit for occupation and includes the HANDLING OVER OF THE KEYS of the said building to the purchaser", Pursuant to Clause 23 (2), the Sale and Purchase Agreement): 08th August 2016 Days Over: 45 days Liquidated Damages claim: 10% X RM902,000.00 / 365 x 45 = RM11,120.55 However, Developer only agreed that the Liquidated Damages calculated to be paid amounting to RM5,189.59 which is 10% X RM902,000.00 / 365 x 21 ​ Please advise whether I had the change to claim back the full Liquidated Damages Claim instead of Developer's offer of RM5,189.59 Thanks. Best Regards, Khoo LK
Author : Khoo Lim Kiat , 8/21/2016 3:16:47 PM 0 reply
Advertising newly launched housing project
Category : Selling property in Malaysia Location : Any/No Specific Location
How do I advertise newly launched housing project on iProperty?
Author : Majumas Properties , 7/27/2016 5:55:56 PM 0 reply
How to reprint receipt that I paid for listing?
Category : General Topics Location : Any/No Specific Location
As per title, I cant find that option in any tab menu
Author : Yeung Cheng Looi , 7/26/2016 11:45:41 AM 0 reply
What is the process of transfer of ownership of a house?
Category : Home Owners Location : Kuala Lumpur
I am a Japanese who bought a house under the name of a local Malaysian brother-in-law in 2006. He took a loan under his name (on my behalf) but I have paid all the costs related to the house. I rented the house and always ensured bank loan was paid on monthly basis, including all other costs, such as taxes. All was good until he divorced my sister and decided not transfer the house to my ownership. I filed a case against him in the Malaysian Civil Court and the ruling was in my favor. I have a Court Order that I am the true owner of the property. While it is a great feeling to get my rights back, I would like to understand the procedure to transfer the ownership of the house. The land office has confirmed the property can be transferred to my name (because of the Court Order) but what is the best way to make such transfer and what procedures must I follow and be careful of? This is not a sale and purchase, it is transfer of ownership only. Of course, I will settle the outstanding bank loan he had taken on my behalf.
Author : Zaif Siddiqi , 7/19/2016 9:38:54 PM 0 reply

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