How Did You Pay Cov

[berry_surprise 0]

Hi there

1)I like to know how did you pay for the OTP $1000 followed by $4000?

2)Did you ask the seller to sign stating he have received the $?

3)Will we receive any b&w receipt upon paying $5000?

@ the 1st appt

1)how did u pay for the remaining COV? cash/cheque?

2)should we be afraid at this point of time because it will be at least 8 week later for 2nd appt.

3)Will we receive any b&w receipts upon paying the remaining cov?

Many thanks.

[therat 18]

1)I like to know how did you pay for the OTP $1000 followed by $4000?

==> use CHQ. Written the purpose on the CHQ. eg deposit for the HDB Blk XX #xx-xxx xxx street

==> If is the remaining 4K. Can write, for exercise OTP for HDB Blk XXX, #xx-xxx xxx street.

==> The CHQ must be under the seller name. Ask ur agent to check the seller is the rightful owner.

2)Did you ask the seller to sign stating he have received the $?

==> agent should write the CHQ number/which bank on the OTP form

3)Will we receive any b&w receipt upon paying $5000?

==> no b&w receipt. So must ensure the OTP written both CHQ number and which Bank.

@ the 1st appt

1)how did u pay for the remaining COV? cash/cheque?

==> CHQ. Easy to carry

2)should we be afraid at this point of time because it will be at least 8 week later for 2nd appt.

==> afraid what? seller run road?

3)Will we receive any b&w receipts upon paying the remaining cov?

==> don't know. Had not reach that stage yet

[chronograph 0]

I tot remaining COV is by cash order and it is pay during 2nd appt. At least it is the case for me.

[born_again 0]

I tot remaining COV is by cash order and it is pay during 2nd appt. At least it is the case for me.

yup, we also bought cashier cheque from bank to pay HDB on 2nd appointment for the 5% cash over valuation (for bank loan cases) and COV. For all the amounts that we paid to seller i.e deposit, otp, everything was written clearly and agent gave us the receipt.

[berry_surprise 0]

Just want to say, I have paid in cash for the $5000 and I am intending to give the remaining COV in cash when I go for the 1 appointment.

Initially I issued a cheque but it got bounced for some signature problem.

Cold hard cash is better (for myself-Yes)

now must give cov...super sian!

got $ still must wait 6mths in order for the final completion.

no $ wait 4 years.

Thanks to my leaders.

Just a note: I got the recipient to ack the amount received thru b&w.

Edited October 22, 2009 by berry_surprise

[momo13 0]

i paid my COV in cashier cheque from bank to HDB on my 1st appt, using HDB loan... then HDB will issue receipt

Edited October 23, 2009 by momo13

[alamak 0]

for my case (resale), cov paid in cheque to hdb. receipt was given. i paid on the day of my 1st appointment but there is a 10-day allowance after the 1st appointment for me to make the payment if i choose to.

as for the exercise fee, my agent wrote down the cheque numbers on the OTP for the deposit and exercise fee. also the purpose of the cheque behind the cheque.

Edited October 23, 2009 by alamak

[Hiera 0]

For my case, I went for the easier way... I wrote a cheque for all...

At least there is a record of $ transaction in case things crops up

[kyeo23 0]

but what if seller insist on cash for the remaining $4K to exercise the OTP?

Is it safe to pay in cash? It's becos they need the cash for the flat rental after selling their place.

My agent (aka my friend) kept saying it's safe.

Anyway, she just passed & got her agent license not long ago.

I'm quite skeptical about paying in cash although she assured that B&W will be given to proof payment.

Pls advise.

TIA

[kelamel 0]

but what if seller insist on cash for the remaining $4K to exercise the OTP?

Is it safe to pay in cash? It's becos they need the cash for the flat rental after selling their place.

My agent (aka my friend) kept saying it's safe.

Anyway, she just passed & got her agent license not long ago.

I'm quite skeptical about paying in cash although she assured that B&W will be given to proof payment.

Pls advise.

TIA

Cheque is the best...dont use cash.....lastly, any px above cov...must be legitimate and let hdb know...there is some oath that both parties must sign too.

[therat 18]

CHQ still the best. Can track.

If use cash, u pass to agent

agnet pass to the seller

then seller say shortage of $50

Then u say no.

story goes on

[berry_surprise 0]

i paid 5000 in cash, gave to owner personally then she signed an acknowledgment letter.

today i went 1st appt and paid the remaining cov in chq (maximum 10 days to pay up the remaining cov), payable to HDB.

hope it helps.

[forgotten 1]

i paid 5000 in cash, gave to owner personally then she signed an acknowledgment letter.

today i went 1st appt and paid the remaining cov in chq (maximum 10 days to pay up the remaining cov), payable to HDB.

hope it helps.

How's your case now? Are you going to issue lawyer letter to the seller to vacate the house after 2nd appt, or let her stay 2 months?

My agent said she would protect my rights. She would make my seller pay market rate rent to me if they stay beyond the agreed 1 week extension. If they refuse, she would get my lawyer to issue lawyer letter to them.

Edited January 30, 2010 by forgotten

[berry_surprise 0]

How's your case now? Are you going to issue lawyer letter to the seller to vacate the house after 2nd appt, or let her stay 2 months?

My agent said she would protect my rights. She would make my seller pay market rate rent to me if they stay beyond the agreed 1 week extension. If they refuse, she would get my lawyer to issue lawyer letter to them.

let them stay foc. not interested to view the house until 1 day before they move out.

[bepgof 20]

Berry, u said u paid COV during 1st appointment?

U need not to pay anything besides the $5K, before 2nd appointment. Pay valuation price + COV only during 2nd appointment.

I noticed in mkt there is a "reverse" way of paying the deposit & OPT fee aginst the paper written in the HDB web. Mkt = deposit 1k, otp=4k. Paper put deposit 4k, otp 1k. funny, isn't it. Who bothers?