Asked by Mr. jeffrey wong
Hi,
I deposited 2% sub-sales for a newly completed condo, the condo yet VP yet CF. Called developer, no indication from them the date of VP and CCC, but the project due is on Nov 2013.
Applying loan now. From my understanding the moment i sign the S&P i need to pay the remaining 8%, which im worry the issuance date of CF will be longer or never!!!
⢠If lONGER : am I need to bear all bank interest charges? coz clock is ticking
⢠If NEVER : then I will be BIG SON.
QUESTION:
1) Shall I get mutual understanding / agreement with the seller for the 8% deliver upon vp or cf to be drafted in the S&P?
2) Shall I obtain lawyer prior signing Bank letter offer?
3) Shall my lawyer draft the agreement indicate âThe 3 months duration for completing the transaction will start from the day we obtain VP and not from the day we sign S&Pâ?
Dear all propertyâs SIFU please give me some advice as this is my first property not much familiar with the consequences.
I deposited 2% sub-sales for a newly completed condo, the condo yet VP yet CF. Called developer, no indication from them the date of VP and CCC, but the project due is on Nov 2013.
Applying loan now. From my understanding the moment i sign the S&P i need to pay the remaining 8%, which im worry the issuance date of CF will be longer or never!!!
⢠If lONGER : am I need to bear all bank interest charges? coz clock is ticking
⢠If NEVER : then I will be BIG SON.
QUESTION:
1) Shall I get mutual understanding / agreement with the seller for the 8% deliver upon vp or cf to be drafted in the S&P?
2) Shall I obtain lawyer prior signing Bank letter offer?
3) Shall my lawyer draft the agreement indicate âThe 3 months duration for completing the transaction will start from the day we obtain VP and not from the day we sign S&Pâ?
Dear all propertyâs SIFU please give me some advice as this is my first property not much familiar with the consequences.
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