I've paid a booking fee for a newly launched property and I couldn't secure a loan for this property, the developer or the agent will refund the booking fee to me.

I am actually buying a KL property but the transaction is done in Hong Kong. According to the agent for the project, the lawyer will come over to HK for the buyers to sign the SPA but will leave it undated until the loan is secured.

Is this legal? Shiuld I sign it or wait until i get the financing before signing the SPA?

What are the risks of signing undated SPA? If I can't secure a loan for this property but SPA has already been signed, can the agent not refund my booking fee?

To all fhd sifu here, please advise.

Thank you.