DISCONTINUANCE OF A BUKIT JALIL CONDO PURCHASE UNDER CONSTRUCTION

HDA (SPA ) Clause 11, in part, stated if a purchaser fails to pay any installment, where up to 50% of the purchase price has been paid, the Developer may terminate the SPA, forfeit 10% of the purchase price and refund the residual sum previously paid back to the purchaser.

I have already paid 27.5% of the progress payments.
In view that property prices is expected to tread lower, I am thinking of forfeiting 10% of the purchase price to the developer and opt out of the purchase.
This is aside if there's any bank loan may have been obtained and the cost to be incurred in termination the same.

The rational is that it is likely I may be able to repurchase a comparative property at an even bigger discount or even upscale to a landed property.

This is essentially a business transaction and anyone in such a situation is simply exercising rights bestowed to both purchaser/s and developer.

Any views from anyone thinking of this avenue?

Thank you, I'm fine.

The idea for discussion here is opting out of any purchase anywhere under construction and possibly to repurchase another one in the market post MCO, only if there's a real good discount.
Should I decide in the affirmative, I shall get my solicitor to facilitate. Just to adhere to mutual covenants between purchaser and developer as per the spa.
Forgoing a 10% forfeiture to the developer in this case is fair.

Thank you,
I do not have a bank loan.
The spa legal and stamping fees was borne by the developer. I do not see anywhere in the spa that the developer has to be reimbursed on this.
Mot duty is only payable upon issuance of strata title.