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Mortgage Loan Package Inquiries v2, Loan agents pls read the 1st post!
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skyliner66
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 Dec 15 2014, 06:06 PM
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hi all, want to ask something regarding loan issue here... i own a property, a double storey terrace house, already got individual title and CF, property is still under bank loan...recently i plan to let go of this property, but my friend (a property agent) told me that my property may have some loan issue... he say due to the developer of the property had went into liquidation, so it's very hard for the potential buyer to obtain loan from the bank(s) as most bank will just reject it...is this really the case? anyone has experience this before? kindly help me on this matter here...thx a lot...  |
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skyliner66
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Dec 15 2014, 08:25 PM
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QUOTE(wild_card_my @ Dec 15 2014, 08:14 PM) Yes, if the developer has gone bankrupt while the property is still under the MASTER DEVELOPER TITLE (hasn't been transferred to individual/strata title), then the banks would be less keen, or outright impossible, to finance the property on your buyer's behalf. However, I can arrange a bank to help your prospective buyer. If you decide to sell, and have found a buyer, you can ask that buyer to call me so I can help him with the loan application. hi wild_card, 1st of all thanks for clarify this for me...but what if the property title already transfer from the developer to individual? will the buyer still find difficulty to obtain bank loan? thx again...  |
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skyliner66
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Dec 15 2014, 08:31 PM
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QUOTE(wild_card_my @ Dec 15 2014, 08:28 PM) of course not!  if it has already been transfered to individual/strata, then it the developer has no bearing in the transaction anymore!  alrite, understood...if i got potential buyer in the near future and he / she really had problem with the loan, i will get contact with u...and thx again for the help... |
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