1st Appointment Pay Cov With Cheque - How Long Does Hdb Take To Clear It?

[yixiang1 0]

Hi Guys,

Any experience with this? Usually u pay with cheque during 1st appointment, so how long does HDB take to clear that cheque....

I am paying a huge COV... over 50k.. so if they take a long time to clear.. i might want use my cheque from a higher interest bearing account.. rather than use the Standchart Extra saver super low interest account cheque..

Hope the guys here with experience can share... Many Thanks!

[Zc31 0]

Well for mine, it took 3 days to clear.

[lcy 0]

Hi Guys,

Any experience with this? Usually u pay with cheque during 1st appointment, so how long does HDB take to clear that cheque....

I am paying a huge COV... over 50k.. so if they take a long time to clear.. i might want use my cheque from a higher interest bearing account.. rather than use the Standchart Extra saver super low interest account cheque..

Hope the guys here with experience can share... Many Thanks!

Hihi,

I think mine also took ard 3 working days to clear. But anyway 1st Appt u only need to pay 10% of the total purchase price. So assuming your valuation is 200k and purchase price is 250k (COV of 50k), you only need to pay 10% of 250k cash (25k) on 1st Appt. But actually of this 25k, if you had paid 5k depoist initially, you just need to pay $20k then for this 1st appt.

Hope the above helps! Cheers!

[yixiang1 0]

Hihi,

I think mine also took ard 3 working days to clear. But anyway 1st Appt u only need to pay 10% of the total purchase price. So assuming your valuation is 200k and purchase price is 250k (COV of 50k), you only need to pay 10% of 250k cash (25k) on 1st Appt. But actually of this 25k, if you had paid 5k depoist initially, you just need to pay $20k then for this 1st appt.

Hope the above helps! Cheers!

Mine is >500k flat leh... so need >50k liao lor... poor me.... need to folk out all that cash...

Edited July 17, 2008 by yixiang1

[666 0]

Hmmm.funny.How come need to pay 10% of purchase price??

I thought if say bought at valuation, even if u pay 10% deposit..its all cpf?Even taking bank loan juz need to pay 5% rite..

Anyway which area did the threadstarter buy ah..50k cov..

i aredy feel heart pain payin 30k cov.

[TYM 0]

Mine is >500k flat leh... so need >50k liao lor... poor me.... need to folk out all that cash...

Wah >500k flat

[CutePinkElephant 0]

woah ....500k+50k....mine only 22k feel heart very pain pain liao , but if no need to reno anything then ok larr...

[Dazzle08 0]

Mine clear within 2 days coz COV must paid within 10 days from the 1st Appointment

Paid 27k for my COV but received 20k for my old flat. Come out extra 7k for resale flat

Renovation cost about 35k + 15 Furniture/appliances/ + 27k COV + Wedding 20k = appro 100k

Setting up a family is not easy in s'pore

[lcy 0]

Mine is >500k flat leh... so need >50k liao lor... poor me.... need to folk out all that cash...

icic..yes indeed then 10% of 500plus k is easily 50k cash on 1st Appt. Anyway me paying 57k cash in COV but as the flat costs $252k in total purchase price, i only need to pay up to $25,200 on 1st Appt. My 2nd Appt in mid August so then need to fork out the remaining $31,800. Heart pain also..

[yixiang1 0]

icic..yes indeed then 10% of 500plus k is easily 50k cash on 1st Appt. Anyway me paying 57k cash in COV but as the flat costs $252k in total purchase price, i only need to pay up to $25,200 on 1st Appt. My 2nd Appt in mid August so then need to fork out the remaining $31,800. Heart pain also..

wow.. this is interesting... mind sharing where is ur location, how come the COV so high but the total price not that high???

The reno is SUPER until nothing needs to be done?

[lcy 0]

wow.. this is interesting... mind sharing where is ur location, how come the COV so high but the total price not that high???

The reno is SUPER until nothing needs to be done?

haha indeed my case is rather unique as it involved getting a flat which is slated for enbloc in Clementi. You can read more details here http://www.renotalk.com/forum/index.php?sh...=13563&st=0

how about yours? i guess your location should be somewhere central like redhill or tiong bahru right?

[yixiang1 0]

haha indeed my case is rather unique as it involved getting a flat which is slated for enbloc in Clementi. You can read more details here http://www.renotalk.com/forum/index.php?sh...=13563&st=0

how about yours? i guess your location should be somewhere central like redhill or tiong bahru right?

I see... So factor in the enbloc gains liao.. hehee...

Its a good move lah.. u get priority selection next time right.... plus some $$ from govt.

All the best to you when ur balloting comes along!

[Zc31 0]

Mine clear within 2 days coz COV must paid within 10 days from the 1st Appointment

Paid 27k for my COV but received 20k for my old flat. Come out extra 7k for resale flat

Renovation cost about 35k + 15 Furniture/appliances/ + 27k COV + Wedding 20k = appro 100k

Setting up a family is not easy in s'pore

U case looks like mine, except i dun haf old hse to get $$. It's my first and all one shot

But nothing beats setting up your family, it's a price i paid, unknowingly

[hk203 0]

U case looks like mine, except i dun haf old hse to get $$. It's my first and all one shot

But nothing beats setting up your family, it's a price i paid, unknowingly

Woahhh...50K COV? Siao...for 2nd yr PR like me, not much cash in CPF...can't pay 50K COV for sure!

bought a flat at 400K + 20K COV...

10% of 400K = 40K

COV = 20K

Stamp fee, legal fee, agent fee, caveat fee all add up to be = 15K ++

total is around 80K+ cash...just to get a downpayment for a 5 room flat in Singapore and gotta pay mortgage for the next 20 yrs, pray that the property price will not crash...seriously...getting tougher living here each day...

[retchlow 7]

sorry guys but i was reading the COV & 10% need to be paid during the 1st appt??

how come the letter doesn't state?

oh dear.

and out of the 10%, half can be paid using CPF yes?