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Loans LO and SPA, LO and SPA

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vckc
post Sep 13 2019, 01:39 PM

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QUOTE(Chicachica44 @ Sep 13 2019, 08:59 AM)
When purchasing a property from a developer, we are required to sign LO from the bank followed by signing SPA. What happens to the loan if SPA was not signed ?
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If not signed, then you need to cancel the facilities from the bank. They will charge a processing fee.

You can let it sit there, but next time you make a loan you have to cancel it because it blocks your loan ability.

 

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