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Delivery Of Vacant Possession
Vacant Possession

New MessageDelivery Of Vacant Possession (modified 0 times) Terence
1) Need advice from expert here,
a)I got a vacant possession letter from developer and asking to pay few items listed below, is it common to pay items listed below...
i) Quit Rent
ii) Land Assessment
iii) Security Fees
iv) Overdue Interest (Can I sue bank for late payment? Any sharing?

2) Second question,
a) My house was due two years ago and only yesterday I received the vacant possession letter, anyone can share who to contact in order to sue and get back the 10% interest late delivery cost? Any contact of housing tribunal?

You two cents advice definately will be helpful for me who is still new in this matter...

rgds,
Terence

21 Dec, 2003 01:59:43

New MessageRE:Delivery Of Vacant Possession (modified 0 times) LoyarMiskin
Yes, you are due to pay for a proportion of the Quit Rent and Land Assessment. Security charges may also be due and payable, depending on what is stated in your sale and purchase agreement. As for late payment of interest, you should see you bank as to the late payment of the interest. The bank may have their own reasons for failing to pay on time e.g. the stage of works that was claimed was not completed, etc. If there are no reasons from the bank and you have a standing instruction with the bank to pay the developer, then I believe the bank should bear these late charges.

Since the house is delayed for two years, it is best that you try to contra any outstanding payments due with what you are entitled from the liquidated damages payable for late delivery. Courts cases have permitted this. I would strongly advice that you read whatever is put for your signature before you sign it, for which may be a waiver of your rights to claim for the liquidated damages. Alternatively, you may want to lodge a claim with the Housing Tribunal for your late delivery claim. However, the developer may be wound up by the time you get your award so it will be useless to you.

I suggest that you try to contra first, since it would not involve you with coming out with any payment first and then trying to claim for the liquidated damages later which may not be forthcoming.

21 Dec, 2003 12:10:47

New MessageRE:Delivery Of Vacant Possession (modified 0 times) Terence
Just to clarify...So does this meant that I can delay my Quit Rent and Land Assessment as well as security charges and contra first?

rgds,
Terence

21 Dec, 2003 23:50:11

New MessageRE:Delivery Of Vacant Possession (modified 0 times) LoyarMiskin
Actually, you should know how much is due to you for the liquidated damages for late delivery. You should also know the amount the developer is asking you to pay for the Quit Rent, Assessment, security charges, etc. If your liquidated damages is more than what you need to pay the developer, just ask them to deduct from the liquidated damages that is due to you and pay you the balance. (Theoretically this can be done but more often than not, the developer will ask you to pay up what you owe them first and then claim for what they owe you, which inevitably they'll delay paying). However, if you owe them more than they owe you, then ask them to take the liquidated damages into account and pay for any shortfall.
22 Dec, 2003 00:07:43


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