Asked by Anonymous
We have already exercised our landed property in Jan '18, but the completion date is in June '18.
Since the whole deal is almost complete, we have a already proceed to purchase our new condo. But recently my agent told me that the buyer might not complete the deal as their condo is still not sold and they might not have enough.
This might just be a assumption from my agent since we have not receive any notice from the buyer in paper. But my agent started hinting from the beginning of the year and just last week again. This is indeed very worrying for me as the completion is just next month and we have already bought our condo.
If the buyer were to back out from the deal, I will have to pay for additional 7% ABSD and to top up 30% of the house loan as the new condo will be consider as my 2nd property. May I know what can I do now?
Since the whole deal is almost complete, we have a already proceed to purchase our new condo. But recently my agent told me that the buyer might not complete the deal as their condo is still not sold and they might not have enough.
This might just be a assumption from my agent since we have not receive any notice from the buyer in paper. But my agent started hinting from the beginning of the year and just last week again. This is indeed very worrying for me as the completion is just next month and we have already bought our condo.
If the buyer were to back out from the deal, I will have to pay for additional 7% ABSD and to top up 30% of the house loan as the new condo will be consider as my 2nd property. May I know what can I do now?
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