Hi sifus. I hv some noob question. Due to weak economy at the moment, and uncertainty in job, i am thinking of an exit strategy for a property that I had just signed SNP and Loan Agreement. No money has been disbursed yet to the developer.

As of now, since all legal docs has been signed, my exit strategy would be to sell the unit near VP 2++ years down the road.

But, since no disbursement has been made, is it possible to cancel all the loan & SNP arrangement? Let's say i am willing to absorb any penalty. Is it possible?

I have not gone through the SNP and loan agreement yet. Perhaps there is a clause that allow me to do that, But for now i would like to know if any LYN forumer has done the same before

Much appreciated.

definitely there's penalty. check with the bank n developer

Ya i am aware of that. Thanks.

Anybody had experience doing this? What's the process?