Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

 Can cancel booking after signing offer to purchase

views
     
TSmay2009
post Aug 16 2009, 04:42 PM, updated 17y ago

New Member
*
Newbie
2 posts

Joined: Aug 2009
Can buyer cancel booking after signing offer to purchase and without paying booking fees yet?

Does the buyer oblige to pay the booking fees after signing offer to purchase
vex
post Aug 16 2009, 08:10 PM

Regular
******
Senior Member
1,984 posts

Joined: Jan 2003
From: Hell @ Penang


i also wan to know leh ...
if just give deposit, can cancel and get full refund, right ?
winner
post Aug 16 2009, 10:25 PM

Look at all my stars!!
*******
Senior Member
2,221 posts

Joined: Apr 2008


QUOTE(may2009 @ Aug 16 2009, 04:42 PM)
Can buyer cancel booking after signing offer to purchase and without paying booking fees yet?

Does the buyer oblige to pay the booking fees after signing offer to purchase
*
No developers would let you book a unit without getting booking fee from you. Or else, it is only a reservation, not booking.

Unless you know the boss or senior management well, booking fee is normally non-refundable.
imax80
post Aug 16 2009, 10:29 PM

Enthusiast
*****
Senior Member
732 posts

Joined: May 2008
why you want to cancel? how come you got to sign SP without paying anything
TSmay2009
post Aug 17 2009, 12:22 AM

New Member
*
Newbie
2 posts

Joined: Aug 2009
QUOTE(imax80 @ Aug 16 2009, 10:29 PM)
why you want to cancel? how come you got to sign SP without paying anything
*
I haven't sign S&P yet, I only signed the offer to purchase agreement.
falcon867
post Aug 18 2009, 01:37 AM

Getting Started
**
Junior Member
76 posts

Joined: Nov 2008
usually in an offer to purchase there will be a certain clause or provision that will govern termination....thats binds yourself and the other party...

but a standard offer to purchase would state that your deposit will be forfeited..
tyj82
post Aug 18 2009, 04:51 AM

LYN Freak
******
Senior Member
1,047 posts

Joined: Jan 2003
From: Penang, Setapak,KL


I believe under condition you failed to secure a bank loan you MAY able to get full refund
vex
post Aug 18 2009, 06:59 AM

Regular
******
Senior Member
1,984 posts

Joined: Jan 2003
From: Hell @ Penang


er.... i call my developer just now, they tell me can cancel and get full refund if i dun wan to buy. dunno got wat extra charget or not.
winner
post Aug 18 2009, 09:16 AM

Look at all my stars!!
*******
Senior Member
2,221 posts

Joined: Apr 2008


QUOTE(tyj82 @ Aug 18 2009, 04:51 AM)
I believe under condition you failed to secure a bank loan you MAY able to get full refund
*
Most developers won't refund the booking fee at all or in full. Some admin costs still count.

Unless the project hasn't obtained AP & DL, then the pre-booking via cheque has to be undertaken by lawyer. The booking fee in this context is refundable in full if you cancel your booking before AP & DL are obtained from the Ministry of Housing.

QUOTE(vex @ Aug 18 2009, 06:59 AM)
er.... i call my developer just now, they tell me can cancel and get full refund if i dun wan to buy. dunno got wat extra charget or not.
*
You are lucky. I guess the developer is a small timer and the project is not located within the Klang Valley, right? Or else, perhaps they haven't obtained AP and DL yet.
vex
post Aug 18 2009, 09:32 AM

Regular
******
Senior Member
1,984 posts

Joined: Jan 2003
From: Hell @ Penang


yup, they dun have AP / DL yet, and it is not small developer, is DNP land leh, listed company.
winner
post Aug 18 2009, 03:20 PM

Look at all my stars!!
*******
Senior Member
2,221 posts

Joined: Apr 2008


QUOTE(vex @ Aug 18 2009, 09:32 AM)
yup, they dun have AP / DL yet, and it is not small developer, is DNP land leh, listed company.
*
If DNP hasn't obtained AP and DL from the Ministry of Housing yet, they can't collect money directly from purchasers. If they want you to pay booking fee, your cheque will be detained by lawyer and will only be released to DNP until AP and DL are obtained. As such, you can withdraw your booking and get back your cheque during that period.

May I know which project do you refer to? Bukit Ceylon?

 

Change to:
| Lo-Fi Version
0.0184sec    0.42    5 queries    GZIP Disabled
Time is now: 21st December 2025 - 05:39 PM