Hi, I'm new here.
I've paid my booking fees in end Aug, but currently I still waiting my loan approval confirmation (I was approved by Ambank but I requested them to remove MRTA, pending decision for this request, results by next week).
When I made my booking with developer, it request me to sign SNP within 14days, although loan not approved yet. But is it too risky to do so?
May I know:
1. How long developer could wait for us to process our loan application before they terminate our booking?
2. I'm first house buyer, can anyone advise me the standard procedure to buy house?
My understanding of the procedures is: booking with developer to secure my unit-->submit document for loan processing-->loan approved-->bank provide offer letter-->sign loan agreement-->sign SNP
Is my understanding correct?