Asked by Mr. Dan Lee
Got prior indication from bankers that I could loan up to 80% of the property I am interested.
Signed OTP and paid 5%. Later on the banks came back and said I could not take up to 80% because I only started working in this new company for about 7 months.
Big gap now since the loan amount is much smaller than plan.
What is the consequences if deal can not be fulfilled?
Thanks,
Signed OTP and paid 5%. Later on the banks came back and said I could not take up to 80% because I only started working in this new company for about 7 months.
Big gap now since the loan amount is much smaller than plan.
What is the consequences if deal can not be fulfilled?
Thanks,
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I am really surprised with the answer from you. Some parties are telling me I will lose the 5%, plus possible to also need to pay for the differences should the seller sold it at a price lower than mine ! I may also need to pay for any re-marketing expenses.
If the above is correct, I could lose big because I have no control over who the seller will sell to, and at what price the seller is selling ...
Is that correct?