This article “Real Estate – Malaysia National House Buyers Association” was originally posted on WY on Investment by WY, a regular blogger shares information about business, investment and management. If you are an investor in business, stocks and other assets, do check out WY’s blog. There are a lot of useful resources.
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” website with some useful information:
1. Where to get help: FAQ and Forum Board, contact and advice centre.
2. Statistics:
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,
- infrastructure,
- failure to recovery on awards/prosecution of awards – section 16AD,
- compensation delays,
- payments…
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.
5. Useful Links
These links are extremely useful. We can find links to many real estate industry participants here. Explore..
6. The Laws/Guidelines
Laws like:
- 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.
7. Experts’ views
Related posts:
{ 1 comment… read it below or add one }
Dear Sir,
I wish to know more about the apartment management law, recently my apartment just implement the security gate system, but due to the bad paying fees issue, some of the owner is not allow to drive in his car, will it be legally by apartment management?
Best Regards
Winson