Hi guys, would like to ask regarding the rebate provided by developer upon the sign of S&P within, for example 21 days or 30 days. Would like to know if you guys managed to meet the duration? Or it is pretty normal to exceed the deadline? My loan application itself already took two weeks and now waiting for the lawyer to prepare and arrange the S&P documents. Not sure if will able to meet the deadline or not. Thanks

developer imposes this deadline to make sure that in addition to the banker and agent processing the case fast, you as the customer will also have to do your job to follow up with your banker on the loan application.

many times banker keep chasing customer for documents but customer take their own sweet time.

i'm not saying all bankers process loan fast, or all customers do things slow.

if all parties expedite on their end, approval within a week is no issue provided that the documentation provided to the bank is solid.

as long as you submitted your document and back is processing your loan, but for some reason bank offer letter is not ready within 21 days, you better talk to your agent or with the developer directly to see if they can extend for you since it is not your fault but is the banker fault

make sure you rush the banker or whoever is blocking you from signing the S&P, if the developer is delaying you then just go and argue with them

in other cases where your loan rejected by multiple bank then you better off cancel booking and review your financial status

Alright. Thanks for your feedback. Talked to the SA and they have no issue to retain the rebate. In fact, I have just signed the SPA last weekend. Thanks for the constructive inputs

Which project are you buying?

no worries.. they need you more than you need them...just ask for extension.. if they dont want to give rebate cause of exceeding 30 days, you tell them its okay, find other props.. LOL.. not really easy to sell now they can wait.. unless it is a hot selling one that you are buying..