Difficulties dealing with new homebuyers during the vacant possession period?

A delivery of vacant possession (VP) means that the property stated in the Sale and Purchase Agreement (SPA) is to be handed over to the homebuyer. The VP is a significant milestone because it marks the beginning of the Defect Liability Period (DLP). During the DLP, developers must repair defective workmanship and works at no cost to the homebuyers’ satisfaction.

Defects are expensive when they occur, both the monetary costs of repairing the defects and the non-monetary costs such as damaged relationship, loss of reputation and brand damage. Therefore defects must be carefully managed by the developers.

We believe if defects are professionally managed, a developer could not only make enormous costs saving but also strengthen its relationship with homebuyers leading to the increase of brand loyalty and brand trust. This would undoubtedly set a strong foundation for the developer to succeed in its next development project.