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 Signed Loan Agreement But Not Sign SPA

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TSNaiveLady
post Jun 10 2010, 07:42 AM, updated 16y ago

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I want to buy a condominium and it is a subsale.
I paid 2% deposit and then search for the home loan.
I have received the offer letter from a local bank and signed it.
I waited for my lawyer to proceed with the rest.

I have waited for a month since signing the loan agreement and I still not signed the SPA.
My lawyer said because the owner haven't provide the sufficient documentations (his SPA, title,....etc) to its lawyer.


I need the moved in before year end for my wedding. So I hope to settle it fast as it might take 4-6months for the whole process.
I asked my lawyer whether can we signed the SPA first. Then the documentation can wait for the owner.
However, the lawyer said unable to proceed because insufficient documents.
Is it true??? Must wait for the owner to provide all documents?





This post has been edited by NaiveLady: Jun 10 2010, 07:46 AM
TSNaiveLady
post Jun 10 2010, 06:37 PM

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My apologies.

QUOTE
I have waited for a month since signing the loan offer letter(Instead of loan agreement) and I still not signed the SPA.



Seems like what I can I do is just set a deadline & chase the owner to produce those documents.

This post has been edited by NaiveLady: Jun 10 2010, 06:38 PM

 

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