Asked by Anonymous
I am almost at the end of finalising my SPA in the purchase of a sub-sale property but all a sudden, the Seller is voicing out tons of issues and dissatisfaction in which preventing/delaying the property handover.
To put things into context, here are some key points in the SPA milestone:
- SPA lawyer represents both Purchaser and Seller
- Contract Completion Date is dated at end of Oct 2018, but the first loan disbursement to pay Seller's redemption fee was released in Nov. I am not sure how many extension days were granted prior to the Contract Completion Date and also not entirely sure which body (SPA lawyer/bank lawyer/bank/loan insurance) was responsible for causing the late disbursement.
- Second disbursement was released in late December 2018, SPA lawyer emailed all the necessary documents that was requested by the Seller mostly pertaining letters from Bank's Lawyers, disbursement receipts, redemption statement and sum breakdown that summarize to the final Balance of Selling Price.
- SPA lawyer requested my authorization to release payment of Balance of Selling Price to seller. I gave authorization and SPA lawyer wrote off a cheque and banked it in to Seller's account. This was the end of 2018 and I have already paid 1 month of the house instalment.
- Come 2019, Seller is now frustrated and voicing dissatisfaction but oddly had also arranged the handover.
Here are some points that were raised by the Seller that's leading the handover into a state of delay and uncertainty:
- "Contact Completion Date was supposed to be end of October 2018, so I expected the redemption fee paid latest in October but instead it was paid in November. So there's an increase of redemption fee there. Because of that too, I had to pay that extra 1 month of house instalment".
- "I have not signed any acceptance, so why did the SPA lawyer banked-in the Balance of Selling Price cheque?"
- "I did not remember signing to the SP lawyer fees and they have deducted prior to my
To put things into context, here are some key points in the SPA milestone:
- SPA lawyer represents both Purchaser and Seller
- Contract Completion Date is dated at end of Oct 2018, but the first loan disbursement to pay Seller's redemption fee was released in Nov. I am not sure how many extension days were granted prior to the Contract Completion Date and also not entirely sure which body (SPA lawyer/bank lawyer/bank/loan insurance) was responsible for causing the late disbursement.
- Second disbursement was released in late December 2018, SPA lawyer emailed all the necessary documents that was requested by the Seller mostly pertaining letters from Bank's Lawyers, disbursement receipts, redemption statement and sum breakdown that summarize to the final Balance of Selling Price.
- SPA lawyer requested my authorization to release payment of Balance of Selling Price to seller. I gave authorization and SPA lawyer wrote off a cheque and banked it in to Seller's account. This was the end of 2018 and I have already paid 1 month of the house instalment.
- Come 2019, Seller is now frustrated and voicing dissatisfaction but oddly had also arranged the handover.
Here are some points that were raised by the Seller that's leading the handover into a state of delay and uncertainty:
- "Contact Completion Date was supposed to be end of October 2018, so I expected the redemption fee paid latest in October but instead it was paid in November. So there's an increase of redemption fee there. Because of that too, I had to pay that extra 1 month of house instalment".
- "I have not signed any acceptance, so why did the SPA lawyer banked-in the Balance of Selling Price cheque?"
- "I did not remember signing to the SP lawyer fees and they have deducted prior to my
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