HardGainer 0 Report post Posted September 19, 2008 This is the summary bill from my lawyer: HDB - Resale price $455k COV - 30k Deposit - 4k Bank loan - 300k CPF lumpsum - 103,750 (where does this come from??) Understanding cash (to be paid via cashier order) = $47,250 What does this mean? Why can't I use all my CPF monies to pay for the bill (other than cash for the COV)? =============================================== Then I requested for a breakdown from the lawyer: Title search - $14 Bankruptcy search - $18 Defendent's cause book search - $13 CPF costs - $220 Stamp fees on option to purchase - $8,250 Stamp fees on mortgage - $500 Stamp fees on transfer - $10 Registration fees on mortgagee's caveat - $64.45 Registration fees on transfer - $38.30 Registration fees on mortgage - $38.30 Photocopy, fax etc - $150 Less legal subsidy from bank - $1200 Total - $8900 =============================================== I cannot reconcile the two billings above. I was told the lawyer's fees will be $1,850. Can anyone help me with this puzzle? Share this post Link to post Share on other sites
EL23 0 Report post Posted September 20, 2008 This is the summary bill from my lawyer: HDB - Resale price $455k COV - 30k Deposit - 4k Bank loan - 300k CPF lumpsum - 103,750 (where does this come from??) Understanding cash (to be paid via cashier order) = $47,250 What does this mean? Why can't I use all my CPF monies to pay for the bill (other than cash for the COV)? =============================================== Then I requested for a breakdown from the lawyer: Title search - $14 Bankruptcy search - $18 Defendent's cause book search - $13 CPF costs - $220 Stamp fees on option to purchase - $8,250 Stamp fees on mortgage - $500 Stamp fees on transfer - $10 Registration fees on mortgagee's caveat - $64.45 Registration fees on transfer - $38.30 Registration fees on mortgage - $38.30 Photocopy, fax etc - $150 Less legal subsidy from bank - $1200 Total - $8900 =============================================== I cannot reconcile the two billings above. I was told the lawyer's fees will be $1,850. Can anyone help me with this puzzle? You need to pay cash for: 1. 5% of valuation = 21,250 2. COV = 30,000 3. Less deposit 4k = 47,250 Total purch price 455k less Bank loan 300k less Cash (incl deposit) 51,250 = balance from your CPF yes, your legal fee is $1850. Your lawyer gave you a very good price. I hv just completed my 2nd appt this week. Paid much higher. You have to settle the $8900. Breakdown - Stamp duty $8250 + legal fee $1850 less $1200 subsidy. think can use your cpf. Share this post Link to post Share on other sites
HardGainer 0 Report post Posted September 20, 2008 Thanks EL23 - You are the expert in this? Share this post Link to post Share on other sites
EL23 0 Report post Posted September 20, 2008 Thanks EL23 - You are the expert in this? oh no, not expert... as i was getting a resale, i read up on hdb and cpf faq on these Share this post Link to post Share on other sites
