I am worried now that the seller may want to cancel the deal after the 3+1 months. We are entering into the 3rd month now, and bank is about to make first drawdown; some delay due to typo error from the seller's lawyer - this week just wasted!!!

And the seller mentioned in the email seems like giving me a "warning" that it has to be completed by then - which is mid March

what should i do? shoe polish the seller?

after the 3+1 months period, seller can call off the deal and take the deposits

trying already, even ask her out to talk face-to-face to discuss penalties and whatsover, oso wanted to discuss about early possession with rental, she doesn't seem interested - but maybe cos of the long weekend

Yah, I have a lawyer, but stupid lawyer inconsistent, one day one thing

Then my lawyer even say that 120 days include public holidays, even though got this statement in the agreement

“Where an act is required to be done within a specified number of days after or from a specified date, the period is inclusive of and begins to run from the date so specified but shall be excluding public holidays.”

I am so confused by the lawyer....

i think if never obtain loan and the buyer never take any action, only after 3+1 months can forfeit the deposit

"day" includes work and non-work day

but, depending on the agreement, public holiday can or cannot be included

but my stupid lawyer and stupid seller lawyer say it include public holidays despite there: "Where an act is required to be done within a specified number of days after or from a specified date, the period is inclusive of and begins to run from the date so specified but shall be excluding public holidays" which i am arguing with them

i got a third opinion from my uncle's lawyer on this issue but he wasn't that helpful because he knows he cant close my deal after all, i feel he "simply" say that it includes public holiday...

never mind, when it comes to late penalties, i will go to my lawyer firm personally to argue with them...

i have been trying to contact my bank (OCBC), but they have been like pushing me around. I cant do nothing but just write complain letters about the panel lawyer. And, the customer service asked me to write to the loan operations department, I even cc. the copy to the headquarters, demanding them to call me, but so far, I have not heard from them - instead they sent me a letter letting me know that I need to pay fire insurance

I want to do something but I can't or don't know how to do it!!! It is just so frustrating

thanks alot for your help

even though my s&p has "Where an act is required to be done within a specified number of days after or from a specified date, the period is inclusive of and begins to run from the date so specified but shall be excluding public holidays"

merce, who is a bank officer in OCBC says:

i want to ask: if there is already a first drawdown, then the owner cancels the deal, then, what happen to the loan? thanks

it hasn;t happen, but just thinking the worse scenario

paid deposit + difference between outstanding and loan + first bank drawdown...

i am trying to enter an early possession with rental by the extended completion date, not sure the owner is responding, so far, hasn't respond

i am also stressed cos my rental (for the current place i am staying) is expiring this end month

trying to take things easy.....thanks for the support

This post has been edited by leongal: Mar 1 2010, 04:21 PM

thanks

but my case will be more than 3+1 months.....that's why the seller has "right" to cancel....but i will take it as it comes la....

do you know if the bank will charge me an interest on this?

thank you

actually the owner did allowed me early possession with rental earlier own, but i rejected initially because i was still renting the current place, now i need the place since the rental in the current place is expiring. I have emailed owner and awaiting her reply, tomorrow i will try sms her and the next day i will call her to talk to her...

yes, i am looking for alternatives as well...thanks....