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 When is it safe to buy after selling?

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TSorly?
post Feb 12 2020, 06:55 PM, updated 6y ago

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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?
ketupatlazat
post Feb 13 2020, 09:53 AM

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From: Bolehland
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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