This is just a hypothetical, if I sold OTP perhaps 1 or 2, buyer places 10% deposit, market stalls, buyer pulls out prior to settlement.. what happens besides the buyer losing deposit??
The bank funds the deal/development, conditional to OTP pre-sales, what next. I know seems simple question, but I have no clue, whether the banks get heavy, you must refinance, anyone know or been in this scenario, place something in the contract to cover your ar$e.
I am sure this would be very common scenario in boom/bust cycle
Cheers
MTR
The bank funds the deal/development, conditional to OTP pre-sales, what next. I know seems simple question, but I have no clue, whether the banks get heavy, you must refinance, anyone know or been in this scenario, place something in the contract to cover your ar$e.
I am sure this would be very common scenario in boom/bust cycle
Cheers
MTR
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