hi sifu,

need your advice, pls...

I was offered to take up a new launched condo (from those loan rejected units) if I'm able to pay 2nd 10% of progressive payment of piling completion. Means that I only take up 80% loan as developer is giving 10% discount on down payment to all units.

However the 2nd 10% progressive payment to be paid upon S&P signing and it's not refundable in case my loan application is rejected.

What I need to know from you all is:

- Is it normal to sign S&P and pay the 2nd 10% before loan approval?
- Does developer has right to forfeit the 2nd 10% payment if my loan is rejected?

dariofoo, thanks for your advice.

I think I will not proceed with the purchase if they insist the 2nd 10% is not refundable due to loan rejection. it's unfair to buyer.