Hi experts,

I bought an house and gaodim SNP and loan agreement recently, now i wonder by right (in practice and with no breach of any law/contract), when I can get the key? House agent said after my bank paid the owner bank's for remaining balance then I can get key, but if so then another question is, if that's the case, after I start reno the house etc, who pay the bill ?

Hi there,

I bought an house and gaodim SNP and loan agreement recently and
House agent said after my bank paid the owner bank's for remaining balance then I can get key

The above statements seemed to be contradicting with each other. I believe your meaning of 'gaodim SNP and LA' means you had signed the documents and not the whole process of conveying the owner's interests to you. SNP is a contract where it will stipulate the payment terms and not the final step. You will only become the legal owner when the title/interest is registered under your name. Nobody will let you to be registered as the owner unless the owner (or owner's bank) receives the money. Nothing more or nothing less.

Signing the documents do not mean you will get the property immediately. Part of the purchase price (including your loan) will be used to settle the owner's outstanding loan. If got extra, only give to owner.

Thereafter, the owner's bank will return the title/original security documents your lawyer for registration.

when I can get the key? The process takes about 3 months from the date of the SNP.

I start reno the house etc, who pay the bill ? Better consult your lawyer.

When you will get the key will depend on what is stated in your SPA.

Normally stated under clause for "Delivery of Vacant Possession".

The norm will be 3 - 5 working days from the date of payment of the balance purchase price to the seller's lawyers as stakeholders and not upon payment of the redemption sum.

Please do not trust all these agents and ask your lawyer to advise you accordingly. Have dealt with so many of these agents who do not know what they are talking about.

usually until full payment is been release. which is about 3 months after date of snp. but sometimes you can nego with the owner. i got my key during signing of snp, but all bill or payables item is on me on that day onwards i.e iwk, assessment, maintainance etc. and some would request some rental money for early giving the keys.