A lot of research has to be made before you decide to buy a house as it definitely isn’t cheap and usually, it is a long-term kind of purchase. Unless you’re crazy rich of course! One of the things that you must take into consideration is the developer of the housing project you’re interested in because this factor can influence the progress of your future home a lot.
In case you didn’t know, if the housing developer suddenly flees with the money, the project will be delayed or stopped, which can cause you to lose your time and a lot of money. Don’t worry though, the Ministry of Housing and Local Government has recently come out with an updated list of blacklisted problematic developers in Malaysia so that buyers will be aware and exercise caution if they want to buy from these companies.
There are four lists in total, which consist of unlicensed developers, developers who defied the Tribunal for Homebuyer Claims (TTPR), developers who failed to pay their compounds and developers involved in abandoned housing projects. There’s quite a lot of them too! These lists are updated up until September 13, 2018, and are the latest ones available.
1. Unlicensed developers
2. Developers who defied the Tribunal for Homebuyer Claims (TTPR)
3. Developers who failed to pay their compounds
4. Developers involved in abandoned housing projects
In total, there are probably more than 1,000 housing developers who have been blacklisted by the ministry. For more information, you can visit the Ministry of Housing and Local Government’s website here.
Now that you know who to look out for, be a smart consumer and do your research!
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