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Financial deposit got stuck for buying condominium, how to get it back?
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leongal
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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? VP - vacant possession
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leongal
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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? 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 amQUOTE(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 This post has been edited by leongal: Jun 18 2010, 12:00 PM
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leongal
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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  seller offered you VP...and you nego? nego wat? Added on June 18, 2010, 12:27 pmQUOTE(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 This post has been edited by leongal: Jun 18 2010, 12:27 PM
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leongal
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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  Added on June 18, 2010, 1:52 pmrenovate after move in will cause more trouble to me no point i damage my own hse ma rite?but if he is still the owner he can chase me out anytime  oh....of course la, money go inside his pocket jor, sure difficult to come out....anyway, good luck
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leongal
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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  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?.....
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leongal
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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?   agree @jasonlim - can understand your anxiety, since your first time....good luck again!
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leongal
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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  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  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
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leongal
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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? 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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