Whether you’re planning to buy your first home or looking to invest in another property, the process can be rather time-consuming and troublesome. There are loads of things that you need to pay attention to including the most important one, choosing the property that you want to purchase. While the location and price points influence your decision majorly, you should not forget to do your due diligence on the property developer especially if the project is not completed yet.
So, how do you know which ones to avoid? Luckily, The Malaysian Ministry of Housing and Local Government regularly publishes a list of blacklisted developers in Malaysia, so you can check which ones that you should definitely stay away from. It’s a pretty long list since there are so many property developers in Malaysia. However, they are divided into four categories: property developers without licences, property developers that didn’t honour buyers’ tribunal claims, property developers who failed to pay their compounds and property developers involved in abandoned projects.
Check out the lists below that have been updated in 2021:
1. Property developers without licences
2. Property developers that did not honour buyers’ tribunal claims
3. Property developers who failed to pay their compounds
4. Property developers involved in abandoned projects.
Remember to check out your property developer and do enough research before signing on the dotted line. It can help you save a lot of money and possible heartache in the future.