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Agreement to Purchase Property
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TSrealitec
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Apr 6 2018, 12:08 PM, updated 8y ago
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Hi all,
Recently my friend is buying a subsale house from somebody. However, he was informed to sign the Agreement to Purchase Property. Is this normal? Appreciate if somebody can roughly advise on the purchase of subsale house for reference.
Content of Agreement is: -Within 14 days to apply for bank loan -1st of May to execute the purchase -To pay 10% bla bla bla
Sorry the information given is not that clear, this is what I have been told. Appreciate your inputs.
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TSrealitec
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Apr 6 2018, 03:31 PM
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QUOTE(hanhanhan @ Apr 6 2018, 02:39 PM) » Click to show Spoiler - click again to hide... «
yes. u'll need to sign an offer/agreement to purchase and pay a booking fee (usually 2% of the purchase price) with that agreement to purchase, the purchaser can apply for loan. This is very informative. Thanks!!
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TSrealitec
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Apr 6 2018, 08:44 PM
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QUOTE(AskarPerang @ Apr 6 2018, 07:51 PM) Just make sure the clause if you fail to obtain loan, the booking fees will be fully refunded to you. If not added, will be forfeited. Thanks for reminding  I will inform my friend accordingly.
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