Buyer cannot get loan approval then what?
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 Nov 4 2020, 11:53 AM
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14,511 posts Joined: Sep 2017 
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This type of question is alway a repeatition in this section.... and the answer can never be different. Read the last here...
https://forum.lowyat.net/topic/5041455 This post has been edited by mini orchard: Nov 4 2020, 11:55 AM |
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Nov 4 2020, 12:25 PM
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QUOTE(barney @ Nov 4 2020, 11:12 AM) Thanks for the replies. No SNP signed as loan not approved for buyer. Agent holds the 3% fee now. Base on the agreement from agent it says if purchase decides to not proceed for what so ever reason (which I believe also implies to loan not approved), 50% of the deposit is to be given to agent and remaining to vendor. I am very sure you have a copy of the booking form with you. What is stated exactly there ? So from your feed backs looks like all agreement is different. If we buy from developer new unit, deposit paid if loan not approved i heard some will give you back everything, if not they take a small % out of it. For agent sub sale, that i think they consider forfeited...  Not according to agent or you or anyone else. What you implied may not be applicable. I believe many agents booking form will include loan rejection clause. Provide a photo if you need further explaination. This post has been edited by mini orchard: Nov 4 2020, 12:30 PM |
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