The Criterion EC

[wetdreamx]

Owner firesale

This one risky le… want 10% upfront and maybe owner will be declared bankrupt.,,

 

[Nanonited]

This one risky le… want 10% upfront and maybe owner will be declared bankrupt.,,

Really if bankrupt the bank can take the property even if legally you sold?

 

[ctstalin]

Don't think it is in the bank's interest to not let the sale go through and go through auctioning to recover their money bahhh

 

[Nanonited]

Don't think it is in the bank's interest to not let the sale go through and go through auctioning to recover their money bahhh

Weird… then why nobody dare to buy? Able to share on any unknown risk?

 

[saikangwarrior]

There are a few ways this can playout.

1. You pay the option fee (95k), but since the bank took back the unit, it becomes a mortgage sale, and the bank can sell to the higher bidder. As for your option, it is invalidated, and you have to claim it from the owner (Goodluck with getting the money back)

2. Counterparty risk and you may need a long legal process to get back the 95k.

3. Loans tagged to the unit, and loanshark come and visit.

At the end of day, is this 150k savings worth it for the trouble. If it isnt yishun its worth a try, but 1m for criterion, mai la.

 

[kingseow]

if the owner blk 3 #06-08, happen to be here... your agent don't even bother to response for viewing request

 

[camrysfe]

if the owner blk 3 #06-08, happen to be here... your agent don't even bother to response for viewing request

Maybe sold already leh