10% downpayment include into loan
|
|
 Dec 3 2024, 08:45 AM
Show posts by this member only | IPv6 | Post
#21
|
 
Junior Member
682 posts Joined: Jan 2021 
|
QUOTE(contestchris @ Dec 2 2024, 08:50 PM) Seller also pays legal fees, no? Depend you choose to have own lawyer to represent you or not. If seller choose unrepresented and use buyer lawyer to fill CKHT return forms, should be only 2k-2.5k |
|
|
|
|
|
Dec 3 2024, 01:08 PM
Show posts by this member only | IPv6 | Post
#22
|
|
Senior Member
2,854 posts Joined: Jul 2013 
|
normally this situation need to sign two letter offer, one is for bank loan, another one (actual one) will be give to owner, seller and lawyer.
lawyer will pandai pandai dont mess up the letter offers with the two letter offer, its should safe guard both seller and buyer , right ? |
|
|
Dec 3 2024, 02:06 PM
|
|
Senior Member
1,923 posts Joined: Feb 2016
|
QUOTE(Jingle91 @ Dec 2 2024, 05:48 PM) Legally speaking, it is wrong, but many peoples are doing in mark up: That said, seller's (owner) 10% downpayment is based on 700k or 630k? As long: 1) ur house bank value is high enough (eg bank value 700k, you sell 630 which is 90% of the bank value) 2) you as seller own the house more than 5 years (so no rpgt concern) 3) lawyer and agent willing to help in all way, bank provide bank loan to buyer do not detect. 4) Your agent fee also will be based on the lower selling price which is 630k instead of 700k Buyer need to bear extra legal fee and stamp duty due to spa price is 700k instead of 630k. If the latter, why the trouble and reason worth doing so by the seller? This post has been edited by jojolicia: Dec 3 2024, 02:09 PM |
|
|
Dec 3 2024, 04:55 PM
|
Senior Member
1,413 posts Joined: Jul 2013
|
QUOTE(jojolicia @ Dec 3 2024, 02:06 PM) That said, seller's (owner) 10% downpayment is based on 700k or 630k? True, would like to know the answer to this quesIf the latter, why the trouble and reason worth doing so by the seller? |
|
|
Dec 3 2024, 06:10 PM
Show posts by this member only | IPv6 | Post
#25
|
|
Junior Member
682 posts Joined: Jan 2021
|
QUOTE(jojolicia @ Dec 3 2024, 02:06 PM) That said, seller's (owner) 10% downpayment is based on 700k or 630k? Based on 630k.If the latter, why the trouble and reason worth doing so by the seller? When bank value is much higher than transacted price record, and seller only able to meet buyer who want to buy with mark up or seller want to sell it urgently. |
|
|
Dec 3 2024, 06:17 PM
|
|
Senior Member
1,923 posts Joined: Feb 2016
|
QUOTE(Jingle91 @ Dec 3 2024, 06:10 PM) Based on 630k. Thanks for replying.When bank value is much higher than transacted price record, and seller only able to meet buyer who want to buy with mark up or seller want to sell it urgently. Jingle91 liked this post
|
|
|
|
|
|
Dec 4 2024, 09:23 AM
Show posts by this member only | IPv6 | Post
#27
|
Junior Member
67 posts Joined: Nov 2024
|
QUOTE(jojolicia @ Dec 3 2024, 02:06 PM) That said, seller's (owner) 10% downpayment is based on 700k or 630k? Latter. If the latter, why the trouble and reason worth doing so by the seller? The art of selling, expert seller sells at the price deemed attractive / hard to be resisted to the buyer, not selling at the price that no one want to buy even if it can get such market valuation. If there is no volume /buyer at such price tag, the effort = no effort / waste of time. |
|
|
Dec 4 2024, 09:59 AM
|
|
Senior Member
1,923 posts Joined: Feb 2016
|
QUOTE(Cisne @ Dec 4 2024, 09:23 AM) Latter. Ok, nice try.The art of selling, expert seller sells at the price deemed attractive / hard to be resisted to the buyer, not selling at the price that no one want to buy even if it can get such market valuation. If there is no volume /buyer at such price tag, the effort = no effort / waste of time. Anyway, as a seller I will always sell bank valuation +10%, or +10% last transacted/ sold price in that locality (psft basis). I take bank valuation value as 'a good to go' for your 90% loan threshold. From the buyer side, where is the performance security to the seller in the absence of 10% dp payable. Para added This post has been edited by jojolicia: Dec 4 2024, 10:30 AM |
|
|
Dec 4 2024, 10:04 AM
Show posts by this member only | IPv6 | Post
#29
|
All Stars
21,963 posts Joined: Dec 2004 From: KL  
|
Risk to seller is higher RGPT fees. And if buyer back out u do not get to keep the 10% on top of that u have to fork out money to pay lawyer. jojolicia liked this post
|
|
|
Dec 4 2024, 10:27 AM
|
|
Senior Member
1,923 posts Joined: Feb 2016
|
QUOTE(WaCKy-Angel @ Dec 4 2024, 10:04 AM) Risk to seller is higher RGPT fees. Exactly, nothing on S&P performance security. And if buyer back out u do not get to keep the 10% on top of that u have to fork out money to pay lawyer. Hot air buyers everywhere, ain't got time for this. |
|
|
Dec 4 2024, 12:52 PM
|
|
Senior Member
1,413 posts Joined: Jul 2013
|
QUOTE(WaCKy-Angel @ Dec 4 2024, 10:04 AM) Risk to seller is higher RGPT fees. True, I also worried about this.And if buyer back out u do not get to keep the 10% on top of that u have to fork out money to pay lawyer. As I understand if halfway the buyer decided to cancel, the 10% downpayment is forfeited. So there is the risk of buyer ffk halfway without this 10% as collateral. This post has been edited by GTA5: Dec 4 2024, 12:53 PM |
| Change to: |  0.0256sec
 0.62
 5 queries
 GZIP Disabled
Time is now: 20th December 2025 - 05:53 AM |
Quote