Print
24 May 2012| last updated at 10:08PM

Q/A3

By Hawa Khaleel@Ampang

0 comments

I am buying a property from my friend but the property is still under construction. Can I buy and can the bank lend money to me?

RED: If the property is still under construction, you can still buy and sign the Sale and Purchase agreement but the terms have to be different. The completion date will only take effect after the property‘s Certificate of Fitness (CF) has been issued. As for the bank borrowing, some banks will still lend to you but will only disburse the money after the CF is issued. In the meantime, the original purchaser will still have to service the progressive interest. By Michael Yeoh, financing consultant

 

Ask the RED expert: Please fax your questions to: 03-2283 1700 or email to nstred@nstp.com.my

Leave Your Comment


Leave Your Comment:

New Straits Times reserves the right not to publish offensive or abusive comments and those of hate speech, harassment, commercial promos and invasion of privacy. Your IP will be logged and may be used to prevent further submission.The views expressed here are that of the members of the public and unless specifically stated are not those of NST.