Not sure why your lawyer never highlight on the risk before he draft the SPA. If he did hint on this risk but you agreed to proceed, then you will have to bear the late charges. Shouldn't sign SPA first if you need bank loan.

Some bank might take abt 20 days to disburse, so you will need to keep calling your bank everyday.

Suggest you have a proper discussion with your lawyer first, and of course, ask for chronological events, to determine what caused the delay

This day and age still want use same lawyer. Should always insist on your own lawyer to represent you and only you.

Yes snp n loan can sign together

TS already hired his own lawyer, and the seller choose to use same lawyer without represented. Yet don't know by how TS's lawyer bring him to this difficult situation now

Actually since the seller is using your lawyer, technically your lawyer is representing you, not him. Most disputes should be in your favour. Have your S&P stated working days or calendar days? Some lawyers will indicate working days therefore stretching it. Your best bet is to ask your lawyer to ask the seller to waive the late interest (unless your SNP has a due date), if cannot then maybe share half half with your lawyer. Normally I will sign SNP only after loan almost done, so your timing is quite off. 1.5 months for the process of transferring titles etc is quite reasonable considering the nature of your property and nowadays some land office really take their own sweet time using the common excuse "too busy". Strata titles will take longer time to process. If your lawyer can give you more details like the dates he sent the documents for processing, and if it is reasonable, then nothing much you can do but to pay the penalty.

This post has been edited by joeblow: Jul 2 2024, 07:36 PM

Yes, only sign when the loan deal done.