Buying property is a big decision. The amount of money involved is large.
There are a lot of pitfalls during the process. We need to be extra careful in every step.
Found this "Malaysia National House Buyers Association".
Some useful information:
1. Where to get help: FAQ and Forum Board, contact and advice centre
This shows complaint statistics (available from 2000 - 2006).
We will be able to take a glimpse of what can go wrong in property buying, for examples:
(the list is not exhaustive…)
- strata titles,
- management & maintenance,
- late delivery & LAD claims,
- certificate of fitness,
- abandoned projects, (look at abandoned projects)
- shoddy workmanship & defects,
- non-adherence to building plans,
- failure to recovery on awards/prosecution of awards – section 16AD,
- compensation delays,
3. Buyer watch issues
We can find lots of issues/news on Malaysia’s property/housing.
Many are newspaper articles.
4 Buyers’ group list
We can find existing owners’ association/committee (in the form of Yahoo Groups, blogs, forums) of some housing projects. Useful if you are buying 2nd hand property and wish to find out info or existing problems of that housing estate/project. Useful also if you have problems related to your house and wish to join forces with others in the same housing estate/project.
4. Useful Links
These links are extremely useful. We can find links to many real estate industry participants here. Explore..
5. The Laws/Guidelines
- Building and Common Property (maintenance and management) Act
- Housing Development (Control and Licensing) Act,
- Strata Titles Act,
- Street, Drainage and Building Act,
Court cases are also available here.
6. Experts’ views