QUOTE(nookie188 @ Feb 16 2014, 01:39 PM)
very sneaky move by the developer..
under the law, they are not allowed to forfeit let alone collect deposit during booking ..they can only collect upon signing of SPA..
so by making the buyers sign the last page of the SPA they think by doing this, its considered SPA has been signed and deposit can then be "legally" forfeited if buyers cant get loan when in fact only the last page was signed !
- my fren told me she was even made to sign it before the SA (as the lawyer was not around) when infact legal docs have to be signed infront of a lawyer
It's the demand and supply for the particular project(s).under the law, they are not allowed to forfeit let alone collect deposit during booking ..they can only collect upon signing of SPA..
so by making the buyers sign the last page of the SPA they think by doing this, its considered SPA has been signed and deposit can then be "legally" forfeited if buyers cant get loan when in fact only the last page was signed !
- my fren told me she was even made to sign it before the SA (as the lawyer was not around) when infact legal docs have to be signed infront of a lawyer
If buyers think they have other beta options in the list then just give it a pass. But the regulation stated it clearly tat spa to be signed on the spot even though the 10% is not fully paid.
One can always wait till vp to get it from subsales market. No harm. The only diff is the price. But one need not to feel upset with the higher price later if doesnt wish to comply to Dev regulation.
Btw Dev ll nvr force anyone to buy. It's just regulation or procedure. If the project is not selling well, automatically Dev ll beg.
This post has been edited by ManutdGiggs: Feb 16 2014, 05:48 PM
Feb 16 2014, 02:23 PM

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