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 How to get out of SPA

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Michaelbyz23
post Jan 17 2022, 04:29 PM

Sarawak Maju Makmur
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From: Selangor / Sarawak / New York



Depends on the cancellation terms stated in the SPA.

Generally for new projects, developers follow the standard spa as per HDA.

This is my spa, termination term. You may try to negotiate with developer to come out with amicable settlement.

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Michaelbyz23
post Jan 17 2022, 09:25 PM

Sarawak Maju Makmur
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Senior Member
4,546 posts

Joined: Jun 2009
From: Selangor / Sarawak / New York



1% only, is your unit 1million?
Doubt you can get away, since also just 1%. Unless you can proof your bank rejected your loan application.
Michaelbyz23
post Jan 17 2022, 09:39 PM

Sarawak Maju Makmur
*******
Senior Member
4,546 posts

Joined: Jun 2009
From: Selangor / Sarawak / New York



QUOTE(TryingToSurvive @ Jan 17 2022, 09:28 PM)
I don't have a copy of my SPA so I am not able to check if I would have to pay $$ if my lona is rejected..

Can share what is the norm?
*
Sorry, correction. Loan rejected only applicable for booking fees. Not signed SPA, my bad.

 

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