Hi all,

I have signed offer letter and loan agreement last 2 weeks. My question is, how long does it takes for the HQ bank to make clearance/checking on the document submitted from the bank branch.?

How strict their checking on documents.?

This post has been edited by GalGdt: Jun 19 2018, 12:16 AM

usually if offer letter is given, the loan is more or lest secured. Clearance of funds depends very much on how fast your lawyer get the documents done up, land title transfer, charges, stamping etc..... usually at least 3 months

It depends on individual case.

I got my letter of offer in September 2017, loan agreement signed in October 2017, until today , no loan disbursement. Suspected , in my case, the developer (Paramount) not keen to receive money from bank.

Depending on individual situations..
Can be few months to 1 year too...

It all depends... is it new property or sub sale... land transfer process may take a while as it involves government. For certain special land transfer, lease hold, low cost houses, it may take longer up to a year or so.

in your case it's likely there's no billing yet as the stage of work has not been completed / commence, depending on the nature of your SPA.

No, because buyers can claim progressive interest.

Meaning that all the checking of documents is for the loan disbursement purpose?

Any possible the bank HQ just do the checking on the document submitted in relation of letter of offer acceptance & just to ensure all information given is true one, no tipu2.?

Then at time to do the disbursement (which maybe in September this year), the bank will do another checking on all documents submitted during application.?

Is this the same scenario where buyer & seller have signed the SPA and how long will the bank release the 90% to the seller ?

Normally is 3+1 but under what circumstances will the bank issue the chq sooner to the seller?

Usually final check is with HQ just to check on branch completeness of documents, shouldn't be another round before disbursement.

This post has been edited by kkkw80: Jun 19 2018, 11:58 PM