KULAI: Two technicians’ hopes of proudly owning a home had been dashed when the property agent they had been coping with did not repay their loans as promised.
One of many victims, who solely needed to be referred to as Wong, 36, mentioned he first noticed a put up concerning the Youth House Scheme on social media in June 2017, and determined to attend a chat on the agent’s workplace in Taman Impian Emas to study extra.
On the discuss, he was greeted by an agent who instructed him that he might personal a two-room condominium unit in Johor Baru priced at RM390,000 with no down fee.
“He additionally instructed me that I’ll get pleasure from a 30% cash rebate and I might simply give him the quantity and he would assist me deal with numerous companies together with servicing the month-to-month loan instalments, renovation and on the lookout for tenants.
“He satisfied me to buy two items in order that after just a few years, I might promote one of many items to repay the loan for the opposite, ” he mentioned at a press convention organised by Bukit Batu assemblyman Jimmy Puah at his workplace right here.
Wong mentioned he proceeded to offer the agent all his paperwork, that was used to use for a loan of RM500,000 for every unit.
Nevertheless, about seven months later, he mentioned he started receiving calls from the bank relating to late loan repayments, which later led to warning letters and finally authorized letters.
“When requested about it, the agent stored giving excuses saying that he was busy and would solely repay the loan as soon as in two or three months.
“I felt one thing was not proper and determined to try my properties and was shocked to seek out that there was no tenant and no renovations completed in any respect, ” he mentioned, including that he final noticed the agent in February this 12 months earlier than shedding contact with him.
Wong mentioned he now owed the bank about RM70,000 in loan repayments and that his two items had been put up for bank public sale.
“I am very stressed as I only wanted to have a house of my own, yet I now risk becoming a bankrupt, ” he mentioned.
One other sufferer with an analogous plight, recognized solely as Lew, 30, mentioned he additionally purchased two items from the identical agent.
“Thankfully, one of my units has been successfully auctioned off and I will meet with the bank soon to discuss other payment alternatives, ” he mentioned, including that he didn’t dare let his household know that he had develop into debt-ridden due to this property deal.
Puah mentioned that apart from Wong and Lew, he additionally obtained complaints from a bunch of eight consumers who had comparable tales.
He suggested keen housebuyers, particularly youths, to do due analysis and assume clearly earlier than making such an enormous funding.
When contacted, Johor police chief Comm Datuk Ayob Khan Mydin Pitchay mentioned there gave the impression to be no foul play as there was an settlement between the property purchaser and the agent in 2018.
“The case has been referred to the Justice of the Peace and the victims are suggested to file for authorized motion in opposition to the agent.
“I additionally advise property consumers to be extra cautious earlier than agreeing to schemes that sound too good to be true, ” he mentioned.