Asked by Anonymous
Hi, I recently purchased a condo in Penang. Sign the S&P agreement on 25/08/2016, paid the 8% and other remaining amount to the lawyer on 2/11/2016 upon request from the lawyer on 1/11/2016. I just received a letter from my bank that they have released the facility amount to the captioned account on 01/12/2016. However, until today 11/12/2016 , i still haven't receive the key or notify from the lawyer on the progress. I have to contact the lawyer firm my self to follow up for the status... They mentioned that they are waiting the seller bank to return the related documents to them to proceed. Following are my questions:
Q1. Will i get penalty for it? (The lawyer say i will not get penalty, but i am still not sure about it)
Q2. The letter i receive from my loan bank stated that i will be notify for interest payable on the amount released via loan account statement, what is this? (I still have not receive the key or posses the property)
Q3. Does this means that I have to start paying the loan?
Q4. I have seen some article state that after my bank release the loan, the seller will have to release the property to me (Key) in 4 days, is this true or can this apply to my case?
Q5. If yes, this means that i can ask for immediate release of the property to me?
Q6. If the seller fail to do so, what can i do?
Q1. Will i get penalty for it? (The lawyer say i will not get penalty, but i am still not sure about it)
Q2. The letter i receive from my loan bank stated that i will be notify for interest payable on the amount released via loan account statement, what is this? (I still have not receive the key or posses the property)
Q3. Does this means that I have to start paying the loan?
Q4. I have seen some article state that after my bank release the loan, the seller will have to release the property to me (Key) in 4 days, is this true or can this apply to my case?
Q5. If yes, this means that i can ask for immediate release of the property to me?
Q6. If the seller fail to do so, what can i do?
261 views