Post Turnover Problems

Here are my top 3 most common turnover problems I've come across. These transpire way after the developer has turned over the property.

1. Leaks

More often than not, leaks usually occur where the piping passes (i.e., bathroom). These problems are relatively easy to resolve. In some cases, some property owners report leaks coming from the concrete walls. This problem occurs because of a waterproofing issue. Hence, when rain hits the exterior of the building, the water seeps through the concrete walls, making the indoor paint bubble. You'll have to wait for the rainy season to check this.

2. Title Delay

The delay of title transfer to the buyer's name is a common problem. The best developers can do it as quickly as six months, while some take over a decade. This delay is a problem because you need the title to sell the property.

Delays typically occur because developers do batch transfers of titles. They have to wait until a specific cut-off before they process the transfers of a batch of properties in a development. In some cases, there are changes to the layouts. So, they must (first) rectify the titles in their name before they can effect the transfer to the buyer's name.

3. Delays/Changes in Amenities/Infrastructure

When agents pitch a pre-selling property, they will undoubtedly mention all the bells and whistles, such as infrastructure that would improve accessibility or rare amenities that would make a development outstandingly unique. If, for whatsoever reason, these promises get delayed or canceled, what can you do? It's not always the developers' fault these happen. Usually, these events are due to risks outside the developers' control.

So, what to do?

No developer is immune from these problems. I've heard of/encountered countless stories of these problems, even with my top 3 reputable developers. However, they respond differently to issues:

- Some do the proper rectification and absorb the total cost (some even book you in one of their suites while they fix the problem);

- Some do a quick fix (later, the problem comes back to haunt the owner); and

- Some wash their hands and say it's no longer their problem since the warranty period has expired.

The only way to mitigate these risks is to ask several people (by all means, NOT BROKERS–not even me) who have bought a property from a developer about their experience. Look for owners who have experienced problems with their properties and find out how the developer addressed these. Aftermarket service is what truly differentiates developers. Before buying into agents' pitches, assess the developer's track record and determine whether it's in their power to fulfill these promises.

(Yes, the photo above is the buyer’s bank FOLLOWING UP WITH THE BUYER for the developer to release the title...or else.) 🤦🏻‍♂️