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I had purchase 1 terrace in JB, but it is Bumi lot, and it had got bank loan approval, not yet covert to Non-Bumi lot, but my Agent ask me to sign SPA, does this allow?
Agent told they will release before release to Non-Bumi lot before release key.
What happen if it didn't?
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1 Answer

Shirleen Koh
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this is only my personal advised. you can sign only Conditional sales & Purchase agreement (advised to your own lawyer) the deposit of 10% should be hold by your lawyer. if the unit has success to convert to the non-bumi lot within 1 year, then only u sign SPA and pay the 10% deposit to the owner, is there is fail to convert, they should cancel the sell transaction and refund you the 10% deposit. this will only cost you a sum of agreement fees. to be safe appoint your own lawyer, do not use owner's lawyer Read More
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