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 Bank loan disbursement after LO sign

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Michaelbyz23
post Jun 9 2022, 10:36 PM

Sarawak Maju Makmur
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4,546 posts

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



QUOTE(wkchee95 @ Jun 9 2022, 08:16 PM)
Hi everyone,

Would like to confirm if I’ve signed LO from bank, bank need at least 3 months to disburse the money to the developer?

If that’s true, is there any way can avoid this circumstance?

I just received email from developer to arrange settlement from the progressive payment.

I am worry progressive late payment will charge by developer to me as heard many people facing the same issue.
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Not necessary 3 months. If everything clear already, within 1-2 weeks should disburse. The 90 days upon signing SPA is the time given by vendor (developer) to purchaser to settle the outstanding payment.

 

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