springsummer

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Bought 3-RM TPY @ $30K COV in Aug 09 (OTP), High floor, original condition.

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No need but you must have enough funds (cash / cpf / both) to pay the initial payments required to purchase your new flat & to go thru' with selling of your current flat. My buying 1st appt is on 20 Oct, my selling is on 16 Nov. My buying completion is on 7 Dec, my selling will be on 5 Jan. I'll get my cash proceeds from selling of my current flat on 8 Jan (estimated) I'll get my CPF refunds from selling of my current flat on 14 Jan (estimated) What i have to pay for my buying before i get my sales proceeds & cpf refunds: (1) $5K OTP (cash) --> pay during exercise of option (2) Stamp duties --> pay on 1st appointment (2) COV (cash) --> 2wks before completion (3) Legal Fees about $2k - $2.5K (can be cash or cpf or mixed) --> 2wks before completion (4) 5% Cash Portion (must be cash) --> 2wks before completion (6) Remaining 15% of Cash & CPF (can be cash or cpf or mixed) --> 2wks before completion (7) Bridging Loan for my CPF refunds up to 14 Jan (8) Agent fees (cash) --> on completion (9) Renovation cost (cash) --> ?? (10) 1st month housing loan instalment (cash or cpf) --> after completion before getting cpf refunds What i have to pay for my selling before i get my sales proceeds & cpf refunds: (1) Legal fees about $1.1K (cash) --> before completion (2) Agent fees (cash) --> on completion (3) SC&C apportionment (cash) --> before completion (4) Property tax apportionment (cash) --> before completion

Example: Purchase price = $310k valuation + $30k COV Bank loan is 90% (1) OTP, pay $5k (2) On 1st appt, pay Stamp Duty (3) About 2wks before Completion, pay: $25K (cash, remaining COV, $30k-$5k) 5% of valuation price = $15.5K (must be in cash) Legal Fees = $2.0K - $2.5K (cash; can also use CPF) 5% of valuation price = $15.5K (cash / cpf / cash + cpf) --> the $25K must be in cash --> $15.5K must be in cash --> legal fees can be in cash/cpf ---> another $15.5k can be in cash/cpf/cash+cpf

Should be able to negotiate to pay him closer to the completion date or on the completion date. If really unlucky, the seller can back off last minute as the flat is still legally theirs before completion date. In anycase, the cheque is still with you so the agent cannot do anything if you want to pay him on the completion date. He has to "so-called" oblige to your request now because you've gone thru' 1st appt & you've known the seller. It's him who'll be worried not getting paid. Anyway, try to ask nicely to pay him on the completion. If he's really a nutcase, then act tough and say he's not getting paid before the deal is completely done. If not wrong, there's a clause in the agent's agreement that if the sales is cancelled & it's not our fault, the agent will have to give us back the commission paid. But, it'll be difficult lar to get our $$ back once it's paid.

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Thanks Jonana !

Are you getting a lawyer? If yes, this is my payment schedule: (1) Stamp Duty ==> on 1st appointment date; pay to the law firm (2) Remaining COV = Total COV - $5K OTP (3) Legal Fees (4) 5% of Valuation Price (must be in cash) (5) The rest of 5% of Valuation Price (if you take 90% bank loan, can be in cash or cpf or cash + cpf) ** If you take 80% bank loan, then item #5 will be "the rest of 15% of valuation price" Item #2 - #5 Cash Portion: about 2 weeks before the scheduled completion date. The law firm will send you a letter about 1 month before the completion to give you the date. Cheque can be mailed, but i prefer to drop it off personally so that i can get the photo-copy of the cheque that i submitted. Alternatively, you can give them a post-dated cheque on the 1st appointment, so you don't need to go there again. Item #5 CPF Portion: CPF Board will deduct funds from your CPF OA acct about 1 week before the scheduled completion date. The law firm will send you a letter about 1 mth before the completion date based on your instruction on how much to withdraw from each account. (6) Agent Fees ==> The agency will send you an invoice within 1 week after the Resale Approval is out. HDB approves the resale within 1 week after 1st appointment. When you pay the agent, it depends on your agreement with the agent. For me, i paid my agent about 1.5 weeks before the completion. Some ppl advise to pay the agent on the completion date. It's up to you.

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Hi, are you interested in buying used TV console? I'm moving house & selling my TV console. It's solid wood with black veneer finish. Pls email me at foodiezz@yahoo.com.sg if you're interested to request some pictures.

we didnt' consult any FSM either but i heard from other ppl it's like that....

Hi dianawee, we actually want to hack off the wall b/w kitchen & living room, but i'm afraid the feng-shui is not so good.... if i hack off that wall, the front door will be directly facing the windows @ the utility room...cannot contain the "qi" don't know if it's true or not, but just want to play safe lor... so, our id will construct a dividing wall w/ some small racks for me to put small pots of plants (can you imagine?)

Hi dianawee, Your flat's layout is exactly the same as mine @ TPY. We'll hack off the middle wall in the kitchen but we'll keep the dividing wall b/w living room & kitchen intact.

These are the famous ones in SGP for treating infertility. I've tried Dr Tan Kian Sing but no good news. I'm now seeing Dr Tan Siew Buoy. Dr Tan Kian Sing blk 322 Clementi (near clementi MRT) 6872 3237 ** must call to book in advance Dr Tan Siew Buoy Thong Chai Medical Institute Chin Swee Rd (near chinatown mrt) 6733 6905 ** register on the spot

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Hi Gobii, can i ask where did you buy the wash basin @ the toilet? thanks

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Hi wennykoh: so sorry to hear abt your experience....it sometimes depend on our luck to find a good ID/contractor. The ID who did reno of our current flat @ Sengkang in 2004 was pretty good. Everyone who came to our place likes the color scheme, zen design of our flat. But, when we wanted to engage him again to do reno for our new flat, we found out that his company went bankrupt not long after he did reno for our Sengkang flat (lucky....). Although a bit worried, we decided to give him another chance & met up with him in End Sep 2009 to discuss our new flat's reno. The meeting went well & he promised to get back to us ASAP & we also decided to give him the job although we knew his history (i've checked the records...looks like he's still an undischarged bankrupt). A week passed by & still no news, so my hubby tried to call him , sms him, email him...Not a single reply from him. Up to now....nothing...he disappeared just like that. BTW, 20% for confirmation sounds quite expensive....we nego to 10% & for the rest of the payment schedule. Cannot let them get too much before the last stage -- handover....cos sure need to touch up before the flat is handed over. We thought to get a contractor instead of ID, but after reading some comments @ this forum, it looks like that we'll need to know exactly what we want (design, color scheme, etc) if we engage a contractor. So, we decided to go to an ID firm.... although we already hv some ideas what design & color we want. ---> we managed to grab quite number of design books (i use "books" cos some of the booklets are quite thick lor...) from those ID firms we visited previously....heheheeh....