House selling at low market price, Can it be cancelled?
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 Nov 7 2018, 10:37 AM, updated 8y ago
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#1
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Junior Member
65 posts Joined: Sep 2018  
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Hi all,
I just sold my house at very cheap cheap f cheap price. Now waiting for the loan to be approved. Apparently government loan also. Sure lepas. Anyway i can cancel the deal? House market price is around 700K. Sold at 550K. Rugi? Okla? Stupid decision? U tell me.  |
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Nov 7 2018, 10:42 AM
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#2
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Junior Member
65 posts Joined: Sep 2018
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QUOTE(sonic31s @ Nov 7 2018, 10:40 AM) I buy from u I paid 580k. bro. I signed already S&P and all. Just waiting for the house loan to be approved. Im the seller. Not the buyer in this case. How leh? My house got sold very f cheap. 3 stories. Ampang. 20 x 70. F me !!!!  |
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Nov 7 2018, 10:51 AM
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#3
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Junior Member
65 posts Joined: Sep 2018
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QUOTE(foohoa @ Nov 7 2018, 10:45 AM) why signed and wait loan approve?? i also dont know la. feel very hopeless now.wait loan approve baru sign mah....... i signed first the paper which agent ask signed. The i signed the lawyer paper because.......they told me if i forfeit the first which agent bring i have to go to court. So i signed. Huhu. Now just waiting for the money. Because i ask the lawyer she said pejabat tanah consent already pass. Now for the loan. Im so freaking stupiiiiidddd... |
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Nov 7 2018, 10:54 AM
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#4
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Junior Member
65 posts Joined: Sep 2018
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QUOTE(Fortezan @ Nov 7 2018, 10:46 AM) Didn't you sign any agreement? Most agreement should have a cancellation clause, which usually incurs a penalty. So the question is whether the difference in your new selling price is higher than the penalty you have to pay to the original buyer yeah. it would be freaking expensive rite to payback the clause. cause the agreement is 550k. |
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Nov 7 2018, 11:00 AM
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#5
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Junior Member
65 posts Joined: Sep 2018
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QUOTE(TBJ @ Nov 7 2018, 10:59 AM) Learn and do better next round tq sir. |
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Nov 7 2018, 02:42 PM
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#6
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Junior Member
65 posts Joined: Sep 2018
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QUOTE(foohoa @ Nov 7 2018, 12:53 PM) bro, u seriously kena cheat la, where got such thing, did u get the 10% deposit? i know rite. when i signed the first with agent, the buyer gave the agent 15k. That is like almost 3% of deposit. and one thing fishy is that like outside agent, if u cannot produce bank loan or rejection letter 21 days ur deposit gone.agent want fast apa pun ask u sign first, how if the bank loan not approve? change the DAYUMMM AGENT!!!!! he/she not helping u at all |
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Nov 7 2018, 02:46 PM
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#7
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Junior Member
65 posts Joined: Sep 2018
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QUOTE(nookie188 @ Nov 7 2018, 02:05 PM) if no money paid - cancel immediately lor..you mean no 2% or 3% deposit paid to you ka? that is one more thing, the deposit only paid almost 3%. But upon signing the SPA no money paid. I mean the 7%. Then what should i do now?Balance of 10% got pay to you upon signing sales and purchase agreement or not? no consideration given (ie money) so agreement tak boleh jalan |
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Nov 7 2018, 02:51 PM
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#8
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Junior Member
65 posts Joined: Sep 2018
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QUOTE(nookie188 @ Nov 7 2018, 02:49 PM) Ok if you want to cancel - quickly inform in writing but you have to return the deposit and pay a penalty of the same amount to buyer.. u mean pay the 3% rite? of which 1.5% i get and the 1.5% the agent take 1st. she said later when get money she take more. hahahaa. i have no lawyer. only the lawyer who pushed me to sign the SPA.are you represented by your own lawyer ? if so inform your lawyer if you want to abort the deal |
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Nov 7 2018, 02:55 PM
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#9
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Junior Member
65 posts Joined: Sep 2018
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QUOTE(jueiri @ Nov 7 2018, 02:50 PM) Below market price, difference by so big. firstly i was scared because i read one legal case that even if u signed the agent form, u have to honour it.Why u sell then? secondly is because the house is under my name and my bro. of which he wanted to sell it so badly because he is living elsewhere. there u go. so sad. |
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Nov 7 2018, 02:59 PM
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#10
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Junior Member
65 posts Joined: Sep 2018
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QUOTE(nookie188 @ Nov 7 2018, 02:55 PM) yes..agent have to return the 1.5% either to you or direct to buyer.. u sure about the law of which i must get the 10%? should i ask that to that freaking lawyer?so you are using the buyers lawyer ..well got talk to him if you decide to abort and see what he says.. normally the booking form will state clearly what if you change your mind.. Under the law upon signing spa you MUST get the balance of 10% (ie 10% minus deposit received).. and say 'kak, u should pay me the balance 7% rite?'  |
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Nov 8 2018, 10:13 AM
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#11
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Junior Member
65 posts Joined: Sep 2018
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QUOTE(foohoa @ Nov 7 2018, 04:19 PM) yes, money sampai baru sign SPA, no money u still sign mean u accept it even without any deposit paid i just remembered. i got the money of 3% only when signing SPA. nvm la. huhuhu. i will be more careful next time. just pray hard the loan wont pass hahahahahahha. or the buyer died or she get sick or sacked or changed of hearts. hahaha u did better call the lawyer firm and ask for cancel because u suspect they are the cheater and did u check the selling amount once signing?  |
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