Scenario
1) A sell house to B, didnt go through developer/agency. Deal direct but go through proper lawyer to do SNP.
2) A wants 20k in cash from B upon signing of SNP (this is separate from the 30K downpayment), while waiting for loan to release by bank.
3) example, SNP RM330k. Loan RM300k. A wants 20k, then bank loan release 300K to A. A will give a cheque to lawyer for this 20K while waiting for loan reimburse. once reimburse, B will bank in this 20k cheque to get back to 20K advance.
questions is
How risky is it to B? if lets say A cancel the cheque for the 20k when loan reimburse, will lawyer side able to do anything? or its solely between seller and buyer?
If after signing SNP, A gets the 20k cash, does A still got any ways to cancel the SNP and pull out from the deal + run away with 20k?
This post has been edited by pisces88: Nov 14 2019, 01:03 AM
possible to cancel after signing SNP?