dear Sifu,

Currently were purchase a house, booking form is signed and loan approved!

Somehow owner only able to get S&P to sign on coming Oct, now both the agent and loan financial keep chasing me to sign the loan aggrement. as per their suggestion, if loan aggrememt not sign now, will need another round of document submission of loan on oct and it take time.

Let say everything goes smooth, then should not be a problem.

My question is, let say this transaction is fail due to whatever reason and if I signed the Loan agreement, will I need to bear the penalty charges and processing fees by both loan laywer and bank?

Should I sign the agreement now? I am not rushing to purchase the house actually!

Tq

what you are doing is presign the S&P but vendor can only sign and complete the s&p in october. what happens if the vendor backs out.

i would wait for vendor to be ready to sign S&P first before sign loan agreement otherwise may incur penalty to cancel the facility is the sale is cancelled.

The house have 2 owners, owner A arrange everything but owner B only able to sign on oct!

Guess I will wait until they are ready then only sign on the loan Agreement!

Get a lawyer and consult them