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Hello Po. Need some advice.
Property bought in 2013, payed 50%. Turnover date was delayed by more than year.
There was 50% rest to pay, in dec 17 no reply from developer for request to settlement of payment. After 2 months they respond, in march 2018 there's settlement decision but buyer didn't respond to that. After 3 months developer send decision about contract cancellation. After talk to developer for request for settlement they say this is already second request and they won't agree. They also said that account has been delinquent for over a year and contract is cancelled. According to Maceda Law there will be refund of 50% of payments made.
My question is, is it legal? Is there any way to request another settlement with developer concidering there was such big delay with turnover date? How to deal with this case? Tank you for help.
Property bought in 2013, payed 50%. Turnover date was delayed by more than year.
There was 50% rest to pay, in dec 17 no reply from developer for request to settlement of payment. After 2 months they respond, in march 2018 there's settlement decision but buyer didn't respond to that. After 3 months developer send decision about contract cancellation. After talk to developer for request for settlement they say this is already second request and they won't agree. They also said that account has been delinquent for over a year and contract is cancelled. According to Maceda Law there will be refund of 50% of payments made.
My question is, is it legal? Is there any way to request another settlement with developer concidering there was such big delay with turnover date? How to deal with this case? Tank you for help.
