Asked by Anonymous
Hi! I am currently in a process of buying a leasehold property in Shah Alam whereby i just received the result from MBSA saying that the property is under low cost (which required certain criteria to be eligible to buy), and the lawyer missed out this important info and infact the owner of the house also did not aware that their property is under low cost. Advice from my lawyer to proceed with appeal which may drag the process even longer. I had a thought to cancel the SPA but my concern apart from the 10% deposit, will it be any additional cost to the bank that i applied the loan? if i terminate the spa and loan agreement with the bank, do i need to bear the cost of valuation and legal fee (loan agreement)? fyi, valuation report is done, loan agreement also has been signed.
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