Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)
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 Feb 27 2016, 08:33 PM
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#1
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Junior Member
26 posts Joined: Oct 2008 From: KL  
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Recently plan to buy another property but got no downpayment. however the seller is selling below market rate.
Can i loan according to market rate and ask the buyer wait for thr bank to pay the 10% plus the all the balance. Anyone got this experience?? |
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Feb 29 2016, 09:07 AM
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#2
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Junior Member
26 posts Joined: Oct 2008 From: KL
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QUOTE(Madgeniusfigo @ Feb 28 2016, 06:39 PM) Dear, Thanks fr the info1. Yes you could do so, the 10% will disburse to client after full disbursement. so he needs to wait around 3-9 months range depending on the transferring issues and time. YOu need a lawyer to facilitate such transaction, so that everything is in black and white, moreover, mutual consent from both of you seller and buyer have to come in term first. 2. There's other entry cost that you would need to bear legal loan legal spa stamp duty loan MOT Valuation. So do prepare enough cash to pay off this entry cost fees.  |
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