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 How to claim back booking fees?, developer without ADPL

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DragonReine
post Nov 29 2021, 09:52 AM

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QUOTE(t3n @ Nov 29 2021, 08:10 AM)
Hi, my friend paid booking fee for a new property and proceed for loan application however suddenly agent said the property already sold despite my friend paid the booking fee... So my question is booking fee really secure the property? Or its just a fee of "interest".. and what can he do assume he will get back the full refund?
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Booking fees are not contractual obligations that the property is "yours", so yes someone else can buy the unit if they're able to confidently sign SPA much earlier.

A confirmed sale (signed SPA) is almost always going to take higher priority over an unconfirmed one.

Since unit is sold your friend can demand full refund. As for purchasing, they only can either choose another unit or seek another property to look at.

This post has been edited by DragonReine: Nov 29 2021, 09:54 AM
t3n
post Nov 29 2021, 10:53 AM

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QUOTE(DragonReine @ Nov 29 2021, 09:52 AM)
Booking fees are not contractual obligations that the property is "yours", so yes someone else can buy the unit if they're able to confidently sign SPA much earlier.

A confirmed sale (signed SPA) is almost always going to take higher priority over an unconfirmed one.

Since unit is sold your friend can demand full refund. As for purchasing, they only can either choose another unit or seek another property to look at.
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Alright, thanks for the clarification...
MalcomShorten
post Nov 29 2021, 11:17 AM

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It depends on the developer right?
mini orchard
post Nov 29 2021, 11:20 AM

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QUOTE(MalcomShorten @ Nov 29 2021, 11:17 AM)
It depends on the developer right?
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Depend on what term ?

This post has been edited by mini orchard: Nov 29 2021, 11:20 AM
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