Feb 8 2012, 04:40 PM
QUOTE(zhanshen13 @ Feb 8 2012, 03:28 PM)
Hi there,
I have a question here. I have got loan offer letters from Hong Leong and Maybank, however HSBC promised me a better offer, but they couldn't give me the offer letter now because the leafz developer do not have a developer license for this project yet. According to the bank agent, as soon as the developer obtain a developer license for this project, he can generate the offer letter immediately. I am in dilemma now as the validity of hongleong and maybank offer may be expired while waiting for the HSBC offer.
Any of you guys heard of the "developer license" story?
I think they call it empanelment process... ie for bank to become a panel for the undercon project, they need certain docs from developer, to assess the strength of the developer as well as agreed rate with developer (in the event of DIBS)... Once this process is done, they should be good to go... but sometimes this process may take very long... ;-) but i thought HSBC is already a panel?? weird! your HSBC banker ... ;-)I have a question here. I have got loan offer letters from Hong Leong and Maybank, however HSBC promised me a better offer, but they couldn't give me the offer letter now because the leafz developer do not have a developer license for this project yet. According to the bank agent, as soon as the developer obtain a developer license for this project, he can generate the offer letter immediately. I am in dilemma now as the validity of hongleong and maybank offer may be expired while waiting for the HSBC offer.
Any of you guys heard of the "developer license" story?
I think no harm signing the LO of the banks... as signing LO is not a confirmation of you taking up the loan.. please make sure you dont sign the loan agreement yet... pm me if you need further explanation... ;-)
Cheers!
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