I REFER to the letter “Adopt build-then-sell system” from the National House Buyers Association (Feb 17).

I agree that the Sell-Then-Build (STB) system must be phased out and the Build-Then-Sell (BTS) system be adopted and implemented by the Housing and Local Government Ministry.

The BTS system creates a win-win situation for both developers and house buyers. The developers get a cut for what they build and sell, while the house buyers are happy to get what they buy and pay for. Problematic and abandoned projects that plague the housing industry will eventually cease to be.

The onus of delivery of vacant possession rests with the developer. The ministry will be burdened with fewer complaints from aggrieved house buyers. There will also be very little need to fine, charge and prosecute; or blacklist errant developers, more so with laws prescribing heavier penalties to deter unscrupulous developers – especially those using the house buyer’s bank loan to build houses – who fail to honour their part of the bargain; as some village folk would say: duit atas angin.

With better laws and the BTS system in place, the ministry need not fear that the housing industry will stagnate as there are many reliable developers with sufficient resources to undertake housing development. Many homes have been built and completed in good condition and in good time by efficient developers.

It is hoped that the BTS system will be fully implemented without further delay so that buying and owning a dream home will be hassle-free and a memorable experience to cherish.

                                                                                                                                                              
                                                                                                                                                                 LKT
                                                                                                                                               Bukit Mertajam

Source: The Sun – February 25, 2010