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Hi I am buying sub sale house from an agent. I already signed S&P and Loan Agreement. Bank already make 1st disburse to get the original title from owner's bank for transfer purpose. However, Bank already ask me to pay the loan installment, but the owner didn't want to give me the key, as the balance payment haven't been released by bank yet(as the transfer is not yet complete). My question is, is this normal?where you need to pay the house even you didn't get the key yrt? Secondly, any remedy or relief for me? as the owner still living inside the house for free. Thanks
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1 Answer

<en>David</en> <en>Wong Lai Kwong</en>
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Dear Ms Adida, Normally the bank disburse the total loan amount to redeem the existing loan and the excess, if any to the Vendor once documents are in order. You mentioned 1st disbursement which is not clear. Banks will start to collect instalment payments from the borrower once this happens. You are represented by your lawyer who will advise the bank drawdown when documents are ready. Seller has the right not to provide vacant possession to you if your bank had not released full payment to the Seller. Read More
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