Payment During 2nd Appt (completion)

[aosis 0]

Hi, as a buyer my agent said during the 2nd appointment I have to issue cheque for the 5% and also the full COV. Say, my COV is 8k and to exercise the option I have already paid 5k. However, I will still need to pay HDB the 5% + 8k which then HDB will reimburse me with 5k and the seller 3k at later date. I find this redundant and confusing. Can someone clarify? Thanks.

[zerochristy 0]

Hi, as a buyer my agent said during the 2nd appointment I have to issue cheque for the 5% and also the full COV. Say, my COV is 8k and to exercise the option I have already paid 5k. However, I will still need to pay HDB the 5% + 8k which then HDB will reimburse me with 5k and the seller 3k at later date. I find this redundant and confusing. Can someone clarify? Thanks.

Hi. We took a bank loan and the bank have a appointed laywer to assist us on the 2nd appt.

We just have to hand over the 5% which is in Cashier's Order to the laywer before the 2nd appt date.

On our case the value is 403k and the COV is 7k.

We paid 2k during OTP. So we still have a balance of 5K to pay to the seller.

We were informed by the lawyers to pay 5% of the purchase price of the house incl of COV.

Lawyers pass the cashiers to the HDB and in return HDB pay the balance 5K to the seller on our behalf.

Hope this helps.

Edited June 24, 2009 by zerochristy

[ncy 0]

Hi aoasis,

My scenario is more like what zerochristy described. This refund thing and pay another 8k in 2nd appointment seems quite fishy to me. By right, just pay the diff mah of 3k, since you already paid 5k during the OTP.

You might wanna check it out again with the approriate HDB officer which was assigned to handle your transaction.

[chronograph 0]

Agreed, should be 5% + 3k.

Clarify with the lawyer or HDB officer. Or your agent is sleeping har?

[Jessy 0]

Hi aoasis, by right u should be paying the remaining 3k ... since u already paid 5k le... my case is like the rest.. juz pay the remaining amt

[Marcussy 0]

Yup just need th pay the extra 5k. I did my 1st appt this morning and this was what the officer told me. Either your agent blur or he want to bluff you pay more money.

[aosis 0]

Ah ok, thanks for the confirmation.. I think the agent is quite new.

My 5% is 18k and remaining COV is 3k. Do I pay 21k to HDB or 2 different payments to HDB and seller?

Another question linked to above is, do I have to use the banks' Cashier's Order or can I use cheque? I don't have a cheque book now, so I'm contemplating whether is it necessary to get one to save on bank issued cheques.

[chronograph 0]

Ah ok, thanks for the confirmation.. I think the agent is quite new.

My 5% is 18k and remaining COV is 3k. Do I pay 21k to HDB or 2 different payments to HDB and seller?

Another question linked to above is, do I have to use the banks' Cashier's Order or can I use cheque? I don't have a cheque book now, so I'm contemplating whether is it necessary to get one to save on bank issued cheques.

21k cashier's order

[HomeMaster 0]

[deleted]

Edited June 24, 2009 by HomeMaster

[Marcussy 0]

The officer says that if pay during 2nd appt, then is either cash or cashier's order only. No personal cheques will be accepted. Anyway since you don't have a cheque book now, you don't have to go and get just for this case, just get bank to issue a cashier's order will do.

[aosis 0]

hi all, thanks for the very valuable information

[Teddy_Love 0]

i called HDB. I am in the same situation as u. my COV is 800 and OTP i paid 1500. So i dont have to fork out a single amount during 2nd appt.

the rest are correct.