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Financial deposit got stuck for buying condominium, how to get it back?

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leongal
post Jun 18 2010, 10:49 AM

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QUOTE(jasonlim @ Jun 18 2010, 10:43 AM)
i did try to talk nicely to him..he don't take my words..and claim that he has all document ready for ownership transfer

what is early VP upon signing loan LO?can explain more on this?
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VP - vacant possession
leongal
post Jun 18 2010, 11:57 AM

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QUOTE(jasonlim @ Jun 18 2010, 10:53 AM)
the property is currently empty..so early VP should not come into the picture

am i right?
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sometimes for owner's protection, owner's lawyer would advice the owner not to give VP to the nuyer, because if anything goes wrong, it can be difficult to get the property back....


Added on June 18, 2010, 11:59 am
QUOTE(noed18 @ Jun 18 2010, 11:33 AM)
So, what Pai has suggested is that you may nego nicely with the vendor to release the unit early to you, so that you can start occupying the unit while waiting, then it's a win-win situation where you will get your unit while vendor continue doing the transfer.

based on my experience, it is not easy to nego...especially if your seller is a "professional"...and it still haunts me sweat.gif

This post has been edited by leongal: Jun 18 2010, 12:00 PM
leongal
post Jun 18 2010, 12:27 PM

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QUOTE(jasonlim @ Jun 18 2010, 12:06 PM)
is the seller who offered me VP
QUOTE(jasonlim @ Jun 18 2010, 12:11 PM)
yes, i tried to nego in a nice way..and he accuse me for creating uncertainty in this deal

so it is not easy..coz he want to protect his own interest which is to sell the property and get the money
confused blink.gif seller offered you VP...and you nego? nego wat?


Added on June 18, 2010, 12:27 pm
QUOTE(noed18 @ Jun 18 2010, 12:08 PM)
Poor girl, your vendor sendiri a loyar, of course difficult la, but if you can still muscle thru, next time surely you can glide thru many normal transactions.
u remember my story well wink.gif


This post has been edited by leongal: Jun 18 2010, 12:27 PM
leongal
post Jun 18 2010, 01:53 PM

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QUOTE(jasonlim @ Jun 18 2010, 01:47 PM)
i mean nego to get back my deposit smile.gif


Added on June 18, 2010, 1:52 pm
renovate after move in will cause more trouble to me sweat.gif

no point i damage my own hse ma rite?but if he is still the owner he can chase me out anytime sweat.gif
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oh....of course la, money go inside his pocket jor, sure difficult to come out....anyway, good luck smile.gif
leongal
post Jun 18 2010, 04:20 PM

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QUOTE(jasonlim @ Jun 18 2010, 04:18 PM)
bcoz he want to sell his property and get the money sad.gif
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since he wants to sell his property, i don't think he will chase you out at the end but to wait till the completion?..... blink.gif
leongal
post Jun 18 2010, 04:32 PM

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QUOTE(Pai @ Jun 18 2010, 04:25 PM)
I think the problem now is you.....................not the seller? U cant enter a contract then simply wants out?
hmm.gif
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tongue.gif agree

@jasonlim - can understand your anxiety, since your first time....good luck again!
leongal
post Jun 18 2010, 05:30 PM

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QUOTE(jasonlim @ Jun 18 2010, 05:20 PM)
the problem is if the deal is not success, where should i move to? and this so-called "rental fee" is quite a lot

dunno how long i stay only can break even sweat.gif

i also don't want to move here and there..like homeless people/refugee

ok wait..if proceed to sign S&P i need to pay 10% down-payment and legal fees..the amount involve will become much bigger sweat.gif
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if sign jor s&p and the problem is with the seller, the seller will nit to return you all the downpayment

if you scare, you can ask your lawyer add - if deal not success, the seller bear the legal fees
leongal
post Jun 22 2010, 08:30 PM

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QUOTE(Laine @ Jun 22 2010, 03:23 PM)

as far as i know, the whole process of transferring ownership from her late father will take very long time... it could take up to 2 years or more?
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it depends whether the deceased has a will or not; and how the will is being stated; i noe of someone who's dad pass away, the mum got the remainder property in just three months - because it was stated clearly in the will and they got an efficient lawyer

 

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