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Debt Relief – Insolvency – Bankruptcy Information » Insolvency » Why there are just too many disgruntled housebuyers in Malaysia?

Why there are just too many disgruntled housebuyers in Malaysia?

Almost every day, a prime TV channel reports dissatisfied house buyers: abandoned projects, shoddy workmanship, late delivery etc. Yet, there’s no progress in resolving the situation. All ministries in this country have been under spits of fire, except that one seems to enjoy high immunity from any kind of scrutiny. Why? Malaysia is one weird country where buyers have to pay for a property without it being even structured. The laws allow the buyers to finance the project & are vulnerable to liability without strong legal nor financial security. In my case, the company failed to deliver an apt I purchased & is now filing for Chapter 11, yet the same group of co’s is securing a high profile governmt highway & property project under a different name. & this co is granted by court not to pay LAD charges (as in S&P) to buyers due to financial insolvency. So S&P is worthless but akins to what you wipe your butt in the toilet. Developers, politicians & banks are protected not buyers interest.

This question is posted in the travel section (Malaysia) because from past experience, there was less response in the other category.
I would urge the relevant authorities responsible to look into the matter urgently and revamp the policies & law for the housing development and restructure the Ministry concerned whose Minister is sitting there doing nothing despite thousands of complaints from the public. It is about time these imbeciles are stripped off the immunity from public scrutiny.

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5 Responses to "Why there are just too many disgruntled housebuyers in Malaysia?"

  1. myra_169 says:
    Ever wonder why your Question does not seems any related to TRAVEL section??

    by the way, my answer to Q is simple..

    There are too many selfish and bad people in this world..these kind of people thinks its good to squeeze people to the maximum..and the same goes to the housebuyers in Malaysia..some housing developer are con..took people’s money and fled…what an a.$.$.hole!

  2. no money says:
    sometimes there r many weird questions in Y!A.. tats why i seldom answer nowadays
  3. anderson says:
    The failure of government administration. these things shouldn’t happen at first place.
  4. danielwm c says:
    Hi sorry to hear you got into this mess..

    As for me i’ve bought a condominium without a sample house for viewing but only a mini model and floor plans complete with 3d scaled model in their head office. For a moment, nobody would willing to risk buying a house without a show unit.

    Fortunately after i had put my 20% down payment, 1 and half years later they delivered. From my experienced it is important that we source around the locations we feel it’s convenience for us to live and check the developer’s status of past projects or their financial standing from Ministry of Housing office.

    Most developer would put up a showhouse to give an insight look of what they would build but it doesn’t mean it would be 100% from what you see.

    In addition, most developer would only give 18 months to rectify defects after delivering the keys, well this is fine except that most will take their time to shift in after renovating and by the time they move in you may not see many defects but when the liability period is over the defects started to show, so the longer liability period the developer give the better.

    The ministry of housing has suggested build and sell later concept which is good for the housebuyer but there’s a flaw implementing this because it would mean a far more expensive house which the middle income could not afford and most of those would be taken by rich ones….

  5. silenth says:
    tell me about it!

    I bought an apartment. Got the keys 1 1/2 years ago. still the building have no CF. How would I sell my properties without a CF? And yet, they are asking for RM110 per month for maintenance fees. You should see how they maintain the swimming pool, evrywhere you swim, you’ll see the tile broken. When I failed to pay, they threaten to block my gate pass card………

    Where am I in justice?

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