Apr 25 2017, 03:46 PM
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?
correctdeposit 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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