Nov 3 2015, 09:09 AM
QUOTE(Bonescythe @ Nov 3 2015, 12:35 AM)
Alright. So in line of what you had said.. how does the purchaser know if the developer has such undertaking tat if in the event the purchaser default, the developer need to repay back everything to the bank ?
Does the spa signed indicated this clause which is between the developer and the bank ?
As far as I knew.Does the spa signed indicated this clause which is between the developer and the bank ?
It has nothing to do with SPA between purchaser and developer. But loan undertaking between developer and financing bank.
Financing approval and undertaking condition of it is another set of agreement outside of SPA.
If purchaser wants to know the condition, then can read from the loan agreement signed, it should have clauses stated inside the agreement.
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