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I am planing to buy 2 room condo in new launch. my question is after getting bank offer letter and excersicing OTP if bank don't disburse the loan amount what happens to my 20% down payment? will i get refund from developer?
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2 Answers

hi,

Sorry to say the answer is no, as the problem is between the buyer and the banker, the developper should not suffer from it.

If the case really happen, the solution should be from bank to see what the reason. normally if bank issue offer letter, there is not be reason bank don't disburse the loan.

Hope it answers your questions.

Welcome to contact me if you need further assistance. Free of charge for the agent work. Thanks.

Robert Peng 9800 1968 
Robertpeng001@gmail.com
CEA reg No.: R042525J
Huttons Relationship Group Read More
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Hi, usually such matters can be worked out. If you had already gotten an Approval In Principle from a bank before you had even signed on the OTP, you should be eligible for a loan. Otherwise, you can always turn to other banks for alternatives.

Pls contact me if you need help, I have access to bankers who can assist you.

Best Regards,

Wee-Ling Chew (R045281I)
SRI5000 - Elite Division of SLP Realty (L3009793I)

M: (65) 9851-5470 
E: weeling.chew@gmail.com Read More
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