keltan8 0 Report post Posted November 11, 2011 Hi,got very confused on this 5% or 10% cash issue :1)let say now i sell my 5-room (still got outstanding loan) and 1 month later i sign OTP for a resale 4 -roomquestion is :a)when i go for my 1st appointment for the resale 4 room, i pay 5% or 10% cash ? (presumed i had already gone for my 1st appt for sell)b)or can enlighten me how and when should i buy , so as to pay only 5% CASHxie xie Share this post Link to post Share on other sites
Plastic3 0 Report post Posted November 13, 2011 (edited) HDB Loan 1st appt pay:- COV (cash within 10days)- 10% down + Stamp + Conveyancing (cash/cpf) Bank Loan 1st appt pay:- depends on bank, each bank have their own procedure...some 1st appt don't have to pay anything, all pay just before completion, COV (cash) + 5% down (cash) + 15% down + Stamp + Conveyancing (cash/cpf)Nice BB King quote in your signature, are you a bluesman?Best,Mark Edited November 13, 2011 by Plastic3 Share this post Link to post Share on other sites
keltan8 0 Report post Posted November 15, 2011 HDB Loan 1st appt pay:- COV (cash within 10days)- 10% down + Stamp + Conveyancing (cash/cpf) Bank Loan 1st appt pay:- depends on bank, each bank have their own procedure...some 1st appt don't have to pay anything, all pay just before completion, COV (cash) + 5% down (cash) + 15% down + Stamp + Conveyancing (cash/cpf)Nice BB King quote in your signature, are you a bluesman?Best,Markthanks Plastics ... u answer half my question ... ( i am confused on the portion hdb rule say if u have outstanding current loan, then ur next purchase downpayment cash is 10% ) ...so my question is if i sell current one (after finish 1st appt) and when i go for buy appt, do i pay 5% or 10% ??the quote is from my calendar ... wat is bluesman ??? sorry Share this post Link to post Share on other sites
bepgof 20 Report post Posted November 16, 2011 thanks Plastics ... u answer half my question ... ( i am confused on the portion hdb rule say if u have outstanding current loan, then ur next purchase downpayment cash is 10% ) ...so my question is if i sell current one (after finish 1st appt) and when i go for buy appt, do i pay 5% or 10% ??the quote is from my calendar ... wat is bluesman ??? sorryBuy appt??? Refer to HDB flat or brivate condo alike2010 Aug rule revision allows one to loan 70% if there is one outstanding mortage loan is being served, and down payment(or call booking fee) revised from 5% to 10% (in cash). However some marketing agents still practising "5%" booking fee rule as selling point.Eventually, buyer still needs to pay 30% (100%-70%)of price (if with one os m. loan)before mortgage loan is being disbursed.More cash on hand is "better", a slight "miscalculation" sure land you into "somewhere" unplanned for. Share this post Link to post Share on other sites
therat 18 Report post Posted November 17, 2011 Begoff, is 60% loan If had existing loan. Share this post Link to post Share on other sites
