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When is it safe to buy after selling?
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TSorly?
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Feb 12 2020, 06:55 PM, updated 6y ago
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Getting Started

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Just accepted an offer for my property with the booking paid by the buyer. Saw a property that I am interested in but was wondering when it is safe to go ahead and buy it. Do not want to end up having the sale fell through and end up owning 2 properties. Advice please?
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ketupatlazat
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Feb 13 2020, 09:53 AM
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After both sides signed the SPA. Usually there is a clause where should any party pull out from the deal, the other party will be compensated at 10% of the purchase price.
That 10% should be a good buffer for you
Booking fee can still be redeemed back by the buyer if he/she fails to secure a loan within the stipulated time frame after putting the booking fee, normally 14 or 21 days.
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