cacabi111 0 Report post Posted October 7, 2009 Hi my 1st appt is tom, m now abandoned by agent & need some clarifications pls... for COV when & how do we pay? thanks! Can during 1st appt write cheque to HDB (but dated 2 days after 2nd appt), then HDB will settle it with seller? my seller quite difficult, think they may insist on immed payment on 1st appt tom..... Or there is some standard way of doing it....pls help, thank you. Share this post Link to post Share on other sites
JustMortgage 0 Report post Posted October 7, 2009 Hi my 1st appt is tom, m now abandoned by agent & need some clarifications pls... for COV when & how do we pay? thanks! Can during 1st appt write cheque to HDB (but dated 2 days after 2nd appt), then HDB will settle it with seller? my seller quite difficult, think they may insist on immed payment on 1st appt tom..... Or there is some standard way of doing it....pls help, thank you. In processing the resale transaction, HDB will: assess the eligibility of the seller and buyer; process the buyer's application for withdrawal of his CPF savings. Subsequent withdrawal of CPF savings after the first appointment will not be allowed; assess the buyer's financial position (credit assessment) and determine the amount of mortgage loan to be granted; determine the amount of cash the buyer needs to pay within 10 days from the date of the first appointment and the final cash payment the buyer needs to pay on completion of resale; obtain seller's and buyer's authorisation for HDB to act for them in the conveyancing (however, seller and buyer may engage their own solicitor to act for them); calculate the amount of stamp fees and conveyancing fees that both seller and buyer need to pay; fix the effective date of resale; and explain the resale procedures to both seller and buyer. If the cash payment required is more than 10% of the purchase price, you are only required to pay 10% within 10 days from the First Appointment date. The balance must be paid on the resale completion. If the cash payment required is less than 10%, this amount must be paid within the 10 days period. The cash payment to be paid within 10 days can be in cash, cheque or cashier's order. The balance cash payment to be paid on resale completion must be in cash or cashier's order. Share this post Link to post Share on other sites
