Hi....dariofoo

need your advise here =)

i put a deposit say 10k of the purchase price to developer
when i proceed to loan, from panel banker & other banker recommended by friend
found that the new property only worth 80% of the purchase price
or in other word i only can loan 80% from bank
now i face a problem that i don't want to come out another 10% cash extra out of my pocket money
i want to withdraw from this purchase
will the developer forfeit my 10k?
if yes, what shall i do to protect myself in this case?

many thanks

Hi....dariofoo

I had place for deposit for my house recently & looking for bank loan now
this banker was drag me for more than 1 mth
then i try call the banker see what is the problem
banker only tell me is bcoz of the development order by the developer
means developer still havent got the DO from relevant authority
now my deposit was hold by them (i cant remember my cheque issue to developer or lawyer)
no matter how, without the approval of the DO, can the developer take our deposit?
if cant, can i withdraw & ask them fully refund my deposit? since they hold me long & i think to buy other property

thank u

hi.......dariofoo, thanks 4 ur reply.....