How Long From Offer To Move In (resale)?

[chewiegranolabar 0]

Hi all, hope those who have experience in resale flats can shed some light:

1. From first offer, what are the procedures left to do (e.g. when to get bank loan, lawyer etc.?)

2. How long later will the sellers move out?

3. For those who hit income ceiling, what kind of reasons do you state in appeal?

Many thanks

[yokine9a 1]

1. Wait for 14 days. This is the cool down period. In case you found somewhere better and wanted to change your mind. Afterthat, sign the OTP doc with seller. Apply for your bank loan. A lawyer will be assigned to you automatically by the bank.

2. After the 1st appt, seller should move out latest 6 weeks' time. Can be earlier or later, must discuss during the 1st appt with HDB officer around. Handing over of keys will be during the 2nd appt.

3. Very hard to appeal, can forget abt it. Unless you can prove to MBT that you really need the subsidy, cannot afford a flat and got to sleep on the street without it.

Edited May 14, 2008 by yokine9a

[Starscream 0]

My own estimate is that it would take about 4 months from OTP signed to collected of keys.

After your signature(s) at the 1st Appointment @ HDB which handles most of the financial transactions & verification procedures etc. Sellers have to move within six weeks (so I understand) from the date of 1st Appointment. That means the house should be vacant and ready for hand-over at the date of 2nd Appointment.

Edited May 14, 2008 by Starscream