Dear Ms. Jessy Yap, The best person to advise you will be your lawyer who represented you in the SPA as he would have understood your situation much better than anyone else. Your question here is not comprehensive and clear enough. 1. Why does it take 3 years for your bank loan to be released whereas the SPA usually allows the Purchaser to pay up within 3 or 4 months from the date of signing the SPA or obtaining the consent. Who has breach the SPA contract? 2. Why would a bank release a loan more than the SPA price? Loan amount is usually subject to a valuation or the SPA price whichever is lower. 3. Why do you have to pay the maintenance fee and assessment when you are not yet the registered owner yet? Unless it has been pre agreed with the Vendor that you are paying on his behalf to obtain consent from the developer to transfer the property to your name and reimburse back from the final payment to the Vendor. All these must be agreed in writing by both parties. 4. Based on your posting, you have paid RM160,000 (via bank loan), RM15,500 (as 10% deposit on signing SPA) & RM12,000 (for maintenance fee & assessment on behalf of Vendor) giving a total of RM187,500. How much is the redemption sum owing to the bank by the Vendor.? If you have all the evidenced and contract in writing then it is easier for you to claim back the excess monies that you have paid the Vendor or on behalf of him. You may also request to subpoena witnesses to this excess payments eg the bank loan officer, the lawyer, the management office staff to support your case, if the Vendor refuse or incapable of paying you back.
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