@shri this is a good question that I hadnt considered..
lets put it another way - I havent signed anything to contrary yet ?
@shri this is a good question that I hadnt considered..
lets put it another way - I havent signed anything to contrary yet ?
Last edited by scrambler; 24-02-2016 at 02:48 PM.
I don't know how things work. Just saying ... if there is a way to screw you over, the banks and lawyers will know how to do it.
Make sure you have a firm opinion from the solicitor that you're paying that your interests are protected. Also, I assume the 10% is in escrow in their client account, not the sellers lawyer's client account?
In that case, just instruct your lawyer to grant a 12 calendar day extension, following which you reserve your rights to forfeit the entire deposit if completion is not finalized. Also remember that if the buyer doesnt complete, they need to pay both agent's fees, so they will be out of pocket a whole lot. You are doing the buyer a huge favour here.
house sale system in HK seems really arse about tit?
surely it shoudl be secure a mortgage of x amount.. find property - try to negotiate below X amount... get a surveyor in... etc
I have to move out before signing - vacant posession? ridiculous!!!!!!
Henderson Land tried to screw me years ago when I bought my apartment of the plan from them. Had to pay 5% on signing, another 5% within 5 days, I assumed 5 business days but it actually included the weekend. In short, my money was in Australia and being transferred across from an Australian bank that are pretty slow and laid back about the whole thing, Henderson were a bunch of motherfuckers telling me if they don't get their 5% by 5pm on this day they are keeping my original deposit and reselling it. Completely no reasoning from their side whatsoever, I think they enjoyed being dicks in fact. I ended up having to borrow $400k from a colleague for a couple of days or I was screwed.
Yeah I think the new developers dates are nuts. I mean where is the time to gather funds. You need to be ready before you look.
Regarding the 12 days and interest, skip the interest and grant the 12 days. If anything, I would increase the deposit and make sure you still get it if they can't make the new deadline. 10% is a hefty amount anyway.
now just got a call... bank wants to come inspect
ok fair enough - but effs sake its very late in the day?
so I can walk away with these peoples saving becos of general bank incompetence?