Since it is a subsale transactions, is there a clause like, the deal is on only if you get the loan approved x xx......

I go through twice my SPA yesterday feel macam yes got way out but I'm no lawyer to judge this but everyone tell me the only way out is burn the downpayment 10% and I remember need pay penalty to the owner but I don't see the clause anywhere.

Gosh can't wait for the lawyer firm to open so I can call.

I'm a recent subsale buyer, I got 2 banks offer me 90% loan, 2 banks offer 70% loan.

Actually who is the everyone? Involves total 70k and u so relax ne. Buy house not like buy vege ne. U should get the pro's view on it.

From which Bank u apply? HSBC, CIMB, Maybank, Citibank not touching this property. My only chance is Hong Leong now

Where got relax geh, decline from every Bank sample. Everyone is like friends and property agents lo. The previous 2 years survey and it was great, problem happen once they issue VP and not completed the defect job and owners have been paying from their own pocket for a year that's what making the problem arise. I can't predict how it would be in 2016.

I know ain't like buying VEge but in was a promising development back at 2014 when I looked into it.

Affinbank and UOB give me 90% loan ^^
Hong Leong at first say I can get 90%, but after submitted it to headquarter they can only give me 70% loan...
PBB officer at first say can get 90%, after that rejected my loan bcos PBB has invested too much on this project.

one more bank leh?

Can share me contacts MA especially UOB & Affinbank? I already very dead end getting bank loan.

Sharp eye 😬

Check on the condition precedent clause to see if your sale and purchase transaction is subject to any condition.

Look into the purchaser's default/ parties default clause to check how much is the total damages u need to pay, also check with the lawyer if u can get refund of your legal fee partially in the event u cancel the SPA.

CIMB which u said u can't get. Lol.
CIMB interest rate they give me 4.85 70% loan.

Then.. Good luck to you la... Try to apply to more banks if u can.
And, normally there is a clause like u need to get loan within a period of time, if not the deal considered failed?
Ur spa signed a year ago?

Sure can. Why not, u inbox me I'll send u both contacts.

SPA signed 2 years ago back on 2014. I think I will see how Hong Leong feedback and also approach UOB bank . Lawyer firm haven't open damn sei Kan cheong to call them d.

Thanks ! PM-ed ady.

Replied dy. ^^

Got it dy. Thanks !

In normal deal, we will state a clause whereby if loan rejection, the downpayment will be fully refunded even for subsale and SnP is null and void.

boss, remember, he is buying an undercon.
the spa would have been worded differently.
only lawyers and the parties involved directly would know what are the terms spelt out.
by no means it is a normal spa.
furthermore, this is not a HDA product where there is clear recourse for default.