Clearing off commercial property loan, What kind of payment involve
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 Oct 11 2015, 08:00 AM, updated 11y ago
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#1
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Junior Member
188 posts Joined: Mar 2009 
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Yesterday i went to bank and ask for the procedure of clearing off all the outstanding loan amount.
The banker told me that, i do need to pay a fee for them to get third party to check on all the outstanding amount. Besides that, i do need to hire a lawyer to settle on the documentation. Is all this true? Can someone advice on the real settlement loan procedure? *Appreciate on the kind assist & feedback~  |
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Oct 12 2015, 06:31 PM
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#2
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Junior Member
188 posts Joined: Mar 2009
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QUOTE(nookie188 @ Oct 11 2015, 10:10 AM) I have not heard of "third party fee" for redeeming a loan. Thanks for your feedback, appreciate it so much.Be guided by the loan agreement that you signed with the bank -the terms & conditions for redeeming the loan will be stated inside with regards to penalty, fees etc.. Yes, you need to hire a lawyer (use the original loan lawyer to do it to save fees) as they wl need to reassign all rights to the property to you for one..  Anyway, just would like to scout around is there anyone done this before? |
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