Manage to get 80% loan on property price. In the S&P agreement, how much should be stated for the deposit paid? I saw mine only 10% deposit and balance purchase price is 90%. Is this correct?
Question on S&P Agreement
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 Apr 25 2017, 03:20 PM, updated 9y ago
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Junior Member
691 posts Joined: Nov 2009 From: Klang | Sibu 
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Apr 25 2017, 03:46 PM
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1,201 posts Joined: Oct 2006 From: Kuala Lumpur 
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QUOTE(hiyyl @ Apr 25 2017, 03:20 PM) Manage to get 80% loan on property price. In the S&P agreement, how much should be stated for the deposit paid? I saw mine only 10% deposit and balance purchase price is 90%. Is this correct? correct deposit is usually 10%. then your next 10% is called the 'differential sum'. this needs to be paid to seller's lawyer as stakeholder first then only bank will release the balance 80% from the loan. |
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Apr 25 2017, 03:57 PM
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691 posts Joined: Nov 2009 From: Klang | Sibu
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QUOTE(hanhanhan @ Apr 25 2017, 03:46 PM) correct Alright. Tyvm deposit is usually 10%. then your next 10% is called the 'differential sum'. this needs to be paid to seller's lawyer as stakeholder first then only bank will release the balance 80% from the loan.  |
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