With soaring inflation and salary cut, I have problem servicing my house loan and decided to sell my house at lost.
The buyer paid 10% deposit and everything went well.
But my lawyer withholds my deposit because he said my selling price is less than bank loan outstanding. So he cannot give me the deposit. Instead he asked me to pay him the balance of house loan outstanding.
I am not happy because I lost a lot money for selling already. Why put the deposit at the lawyer? I want to use the deposit to pay in the house loan account now to reduce loan interest.
Any comment please?
is it normal that the lawyer to withhold deposit?
thanks.
This post has been edited by WoodStock: Nov 30 2022, 11:23 AM
Lawyer withholds my house sale deposit, Is it normal?