hi bosses,

I know that this topic was brought up by forumers few years ago (in 2012 as I searched in forum lowyat). But I would like to get fresh advise from you guys about my case. here's below the info:

SPA price: 300k - undercon prop
Downpayment: 0 - 10% rebate by developer
booking fee: 1k
legal fees: 0 - all by developer (approx 6k)
prop type: SOHO - under HDA

today the SPA is stamped. Loan not yet disbursed.

And here's the problem.
I am cancelling the purchase for some personal reason. However, developer sent me a letter asking that I will need to pay:
- 10% of SPA price
- legal fees
- booking fee 1k forfeited.

I have a problem to understand why I need to pay 10% of SPA price. I do not think I found any cancellation clause in SPA.
Is this normal to pay 10% for HDA property for cancellation after SPA stamped?

I really need your advise here.

If any information required, I can tell in details.

Thanks.

Hi thanks for your reply.

I've checked the SPA again and yes found out it is clearly written about forfeit of 10% off SPA price.
I've called the lawyer today (the lawyer firm is the same as developer), and she did mentioned the same.

the 10% rebate is mentioned in the Offer To Purchase Form and signed by myself and returned to them during the earlier buying process.

I've asked the lawyer about this, she did mentioned that this 10% is considering if the property has been bought by myself. So the 10% is not applicable in this case.

Could you help to advise if I would need to take this point as part of my negotiation process with developer?

I do have 10% rebate. I dont know how this can be used for negotiation (since the lawyer said this is not applicable).

Thanks for your advise.

also I have the understanding that the rebate only be applicable if I complete the SPA. Complete means I serve the SPA until VP.
Not sure if my understanding is correct.