Generally, any cancellation of SPA will incurred a penalty of 10% of the purchase price. In tis case, the penalty will be 75k.

Whether the developer allows depends on their goodwill and the stage of completion of the property.

If the buyer oredi signed the Loan Agreement, it makes cancellation more difficult esp if the bank oredi disbursed part of the loan sum to the developer.

The LA is between borrower(buyer) & bank and money partially disbursed to the developer is the responsibility of the borrower to repay. Is then buyer responsibility to claim the money from the developer.

Assuming the bank haven't disburse the loan sum, and if termination of LA is allow, there will also be penalty incurred.

Lastly, there will also be legal fees and other purchase expenses from the developer and bank.

This post has been edited by mini orchard: Sep 20 2025, 07:30 AM

Repeat.

This post has been edited by mini orchard: Sep 20 2025, 07:05 AM

If the project is not fully sold, likely the developer will not agreed to the termination. They will rather let the buyer deal with their bank. If buyer borrower don't make any payments to the bank, it will then proceed to auction off the property on VP.

Every unsold unit is a financial burden to the developer. All construction costs have to borne by them until they find a buyer.