Asked by Lester
Hi Gurus,
Need some advice on buying & selling.
If I sell my property (B.U.C) before TOP/CSC & the full amount has not been disbursed by my bank, who carries the un-disbursed portion of the original mortgage/loan going forward? Is it me or the 2nd owner through his banker? Becoz, I know I'm subject to cancellation fees by my bank on the un-disbursed portion of the loan if I should re-finance with another bank or sell the property.
If I do sell, what is the amount due to me? Is it equal to
(Sale price - Bank outstanding including cancellation fees - Undisbursed amount due to developer) with the undisbursed amount held in the name of the 2nd owner through his banker? Or do I have to settle the developer?
Thanks.
Need some advice on buying & selling.
If I sell my property (B.U.C) before TOP/CSC & the full amount has not been disbursed by my bank, who carries the un-disbursed portion of the original mortgage/loan going forward? Is it me or the 2nd owner through his banker? Becoz, I know I'm subject to cancellation fees by my bank on the un-disbursed portion of the loan if I should re-finance with another bank or sell the property.
If I do sell, what is the amount due to me? Is it equal to
(Sale price - Bank outstanding including cancellation fees - Undisbursed amount due to developer) with the undisbursed amount held in the name of the 2nd owner through his banker? Or do I have to settle the developer?
Thanks.
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