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pisces

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Posts posted by pisces

  2. Posted

    For purchase a resale condo here is the deal

    1) 1% of the purchase price by cheque under the owner name. Ask yr agent to provides u document proof of the owner details. Yr agent will furnish u a copy of Offer to purchase.

    2) Once the owner accept yr offer, yr agent will provides u a document called Option of Purchase. Another cheque is require of 4% of the purchase price.

    3) Yr banker will get u a lawyer to coordinate the legal issues etc.

    In sort, cash involved are 1% + 4% + Stamp Duty (u need to pay upfront but will reimburse after the deal is approved by CPF)

    bal 15%(using CPF).

    The above is based on 80% loan approval by the bank. For yr case is 1% + 4% + Stamp Duty (cash) and balance 5% by CPF.

    Didnt know that now banks giving 90% loan of the property, early of this year for my case is 80%.

    Hope this helps. Good luck!!!

    Very precise instructions. Thanks.

    And oh yes, banks are giving a 90% loan, but of course that is subject to your financial situation.

  3. Posted · Edited by pisces

    Investors think that it's good to have a bank to give 90% loan to valuation. The last laugh is actually with the bank.

    Imagine (Real Life)

    1) When interest rates pick up later. You realize that you almost can't move to another bank because alot of banks can't value your property to do a refinancing. Hence you are stuck with high interest rates.

    2) 90% LTV are always with a higher interest as compared to below 80%. With higher interest rates, your monthly installments will be higher.

    Think Twice about getting a high LTV mortgage unless you have the capability to pay off part of the loan at some point in the coming years.

    Stamp Duty is factored at 3% of purchase price - $5400

    Phantom, as long as we take a bank loan , the bank ARE gonna have the last laugh. The banks have only to benefit unless we default and the price of the property decreases....like the US sub prime crisis.

    I do not exactly understand your point 1. Why can't i refinance and why can't banks value the porperty ? I am assuming the refinancing option after lock in is over. Appreciate if you could shed some light on your opinion.

  4. Posted · Edited by pisces

    hi,

    now i have found my unit. =)

    next step.... bank loan............ now im not so concern about being approved or not approved.

    There are so many packages in the different bank, im more concern with the difference between them.

    So should i walk-in every bank and find out more?

    or i can just call then bank up and ask?

    Lucky you ...found the unit already. Congratulations.

    I have been looking for so long..still can't get what i need.

    Back to the question - You can just call up the banks and ask. They will even give you approximations on the monthly installments based on your amount and loan tenor. Ask them to email it to you. Don't be afraid to ask questions and approach as many banks as possible to get the best deal.

  5. Posted

    Thank u.

    I plan to buy a resale condo.

    The other thing is that i expect the condo price to be funded through the bank loan. I have already checked with 1 bank and they are willing to offer a 90% loan.

    if i understand correctly. i would have to pay the following in cash.

    1. 5% of the condo price.

    2. stamp duty - which can be later taken from CPF ?

    For the remaing 5%, i should be able to use my CPF ?

    Of course i wouldn't pay the initial 5% till i have the in princple approval.

  8. Posted

    Hi All!

    After getting keys and inspecting throughly decided to hack both toilets wall and floor.

    Quite a few hollow tiles and some major cracks too. Also the drain is in between the basin and WC...so the whole toilet will get wet when we shower. The only way we can relocate drain is if we hack n lay. (?) so said our plumber.

    My toilet same as urs drain between basin and WC. My id devised sort of a curb for the shower area and made a water outlet inside the curb. From the shower area emptying in the drain so the rest of the toilet doesn't get wet. But sometimes the water will get accumulated in the shower area and take a minute or so to empty because of the curb.

  10. Posted

    Tecno 8228 -

    After few days of usage

    1. Heating is ok. Have to use max heating and reduce the flow if very hot water is required [Not really sure of measuring instant heater heating as in the past I was using a storage heater which used to super heat the water] . One thing I am sure of ..its not bad at all for me.

    2. Comes with 5 shower modes . quite cool. Water pressure is fine(I live on mid floor).

    3. Looks all right. I would say better than most instant heaters.

  11. Posted · Edited by pisces

    how much does it costs you to finish the work in 3 days?

    The cost was around 1000 for both batrooms including the tiles. Also my flat was 6 yrs old and I had the contractor check the current situation before deciding on the overlay.

    hopefully this forum is still around in 3yrs' time. maybe by then you will pop by and post your tiles' stats.

    Will try to do that, but I rather hope there's someone out there who has already done a overlay long ago and can post his comments.

  13. Posted

    how much does it costs you to finish the work in 3 days?

    Sorry, I dun remember so well bcoz it was all part of the reno package....just that it was much lower than hacking. I will try to dig thru my papers and see if I can get the quote.

  15. Posted

    dun tell me u got it at 50% :notti:???? wooow :yamseng:

    we bought several sets of washers tat r display sets, seems ok, no worries;)

    btw, r u sure NN-C2003SYPQ has steaming function too?? i read their online specifications and it wasnt stated so le

    I got for around 40% discount, and yes u r rite it doesn't hv steaming ...I am sorry my wife cooks most of the things ...by myself ...i just and made bread after watchin too much of Jamie Oliver shows :deal:

  16. Posted

    I have recently done a overlay of tiles in both bathrooms. It was done in a matter of 3 days and so far no issues at all. It been almost 6 months now.

    For those who are against overlaying ...i have few questions.

    1. Normally when do the tiles start popping up/water leakage etc after overlaying ?

    2. is it due to poor workmanship or just that overlaying in itself is not a good process ?

    To me overlaying seemed to be the correct option during my reno. The xisting tiles looked horrible, If I have to do repairs for minor pop ups in the future ...I don't mind .....rather than looks the orginal tiles :yamseng:

    Hacking was a no-no bcoz of the cost.

  17. Posted

    I recently bought the Panasonic oven NN-C2003SYPQ, when the compass point courts was closing ....got a very good deal.....but was very worried about the oven since it was a display set.

    I haven't tried steaming yet but all other things work pretty good.

    Grilling(meat/fish) is really great.

    Baking - tried pasta/cookies/cakes/bread - everything perfecto !

    I doubt if there's anything that the oven can't do :sport-smiley-018:

  19. Posted

    When I bought my place ..I was in the same situation. My existing laminate was in good condition but I did not like the color.

    I asked my id to change all doors or relaminate however the id and contractor suggested to replace the existing one as the cost for relaminate was very high.

    Anyways now I am living with the same kitchen. Could you let me know the approximate cost ur contractor quoted for relaminate ? and the contact details of the contractor. thanks.

  23. Posted

    can try to look for those garang gunis in classified ads.

    bombshelter i believe it's not going to be cheap....

    Which means I can replace the bomb shelter door with a door of my choice ? No rules for this ?

  24. Posted

    $300+ types are not fire rated.

    $650+ for fireproof doors.

    you will only need fireproof main door if your unit is next to lift/staircase.

    my house is 2 units away from staircase and my quotation for maindoor is only $350.

    go here

    http://www.hdb.gov.sg/fi10/fi10205p.nsf/WP...te?OpenDocument

    Excerpt from HDB site

    <<Replacement of main entrance door and/or frame along fire escape route >>

    <<Door openings into passageways (such as staircases, lift lobbies) that serve as a mean of escape in case of fire, the new door/frame must be half hour fire rated solid door/frame with door closer (fire door/frame must have PSB label on the door/frame). >>

    Looks like I dont hv to go for a fire rated door since my main door doesn't open to life lobby or staircase.

    BTW if I buy a new door does anyone buy back the exisitng fire rate door? can I get anything for that or its a loss ?

    I wish something could be done about the bomb shelter door too !

  25. Posted

    look for those door advertisements in classified ads, cost around $350 and below for a main door.

    provided you are not changing a new door frame(cost a lot more)

    Bro Mace, Are you very sure its 350 ? I understand the HDB door is supposed to be fire proof and all ? Is there any HDB regulation on this or I can just simply put any door ?

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