Feb 10 2021, 04:25 PM
QUOTE(Char88 @ Feb 10 2021, 01:13 PM)
Currently bought a house, all documents such as spa , loan agreement signed. During sign spa, lawyer just gave me a paper to sign. I don’t even see the T&C , also not initial the t&c. But found out the house got a big issue, can I cancel the purchase? 10% of purchase price forfeit ( I read back the t&c not state this clause) ? Can negotiate? This is hard earn money but I didn’t ask the t&c before signing document
Loan disbursed? Which stage? If for your 10% with the developer, you need to negotiate with them. They can forfeit your deposit / initial payment etc subjected to the SPA and whatever letter/document you signed with them.
If the Bank disbursed the money... then you'd have a harder time in cancelling. You need to talk to your banker asap though. Let me push it a bit further... even if the Bank has not disbursed the money but all the documentation are done, submitted and stamped, you'd have to take a lot of steps if you want to cancel it.
This post has been edited by digitalz: Feb 10 2021, 05:00 PM
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