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S&P issue...can refund my deposit?Vendor dont agreed my

 
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ronaldlaw



Joined: 02 Jul 2008
Posts: 20
Location: Puchong
PostPosted: Mon Aug 04, 2008 9:46 pm    Post subject: S&P issue...can refund my deposit?Vendor dont agreed my Reply with quote
I have pay 2% for sub-sale free hold landed property in puchong on early June 2008...until today i havent sigh the S&P agreement due the Vendor disagreed the SPA prepare by my lawyer...
Vendor insist additional clause for:

1)Irrevocably undertake letter from bank before give us the tittle,
2)21 working days from the date of give us the tittle,vendor want my lawyer to advise release the loan by bank,otherwise will forfeited my 10% deposit!

vendor say it normal format for all SPA...she say either accept it or give up of buying... mad.gif

then i discuss with my lawyer..my lawyer say if take it,it going be double lock up the purchaser...1st is 3month + 1 month 8% penalty,2nd is the 14days issue.
if give up vendor not going to refund anything
So,now i pengsa already...dunno what to do...i wish to buy the house,it good location and nice view..but some many problem to me at initial stage now...dunno whether is GOD advise me not to buy?
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