Hello there,

Would appreciate if some lawyers here or anyone experienced with the below case to advise me.


Story:
I am in the midst of buying a sub-sale freehold house. Loans are basically approved but haven't signed anything.
Just found out (through the seller's lawyer) the seller need to transfer the house title to beneficiary (since it's joint name for the seller and one passed away). According to the lawyer, they'll need to follow the court proceeding, then only can transfer title to beneficiary..The process will take about 3 months for court order and 2 months for title transfer to beneficiary.

The lawyer said i can sign SnP first to lock in the loan and once the above process finished, the loan will be released and the title will transfer to us which is a quick process.

So my questions are:
1) Is this 5 months process normal and will the bank able to lock in the loan for this long?



2) According to the 'agreement to purchase form': 90% balance to be paid within 90 days from i) date of SPA or ii) date of receipt of the relevant consent from statutory body, etc......... Upon expiry of the period stipulated in above clause to grant an extension period of 30 days on the unpaid balance sum at an interest rate of 8% per annum calculated on daily basis.

Should I just ignore and not concern about all these (since it's not related to me) and just follow as what stipulated in the booking form?


3) Is it advisable to engage the same lawyer as the seller?

4) Can i cancel the booking?