AskGuru Q&A Community

Hi Sir,

As you mentioned, since you will opting for the Deferred Payment Scheme and paying the 20% downpayment plus the legal & stamp fees fully In cash, you do not need to secure a bank loan first. The latest you will need to secure a bank loan is approximately about 6 months before the TOP of the EC.

Feel free to contact me at 91443311  should you havw more questions on the purchase of an EC. By the way, I am currently marketing a number of ECs so I may be able to provide you with updates on the prices and availability of various EC projects.

Darren Lim
HP: 91443311 
darrenlim.era@gmail.com Read More

Hi Mr Rai,

Qn 1: Hi, I just quit my job and I will start my new job only from december. If I were to buy an EC opting for the deferred payment scheme and pay fist 5%+15% and other legal fees in cash, do I need to apply for a bank loan before the signing of sales and purchase agreement?

Ans 1: No, you do not need to apply for a bank loan before signing the S&P. But you got to be certain that the bank is willing to support the loan of your purchase EC unit. An AIP (Approval-In-Principle) will resolve that uncertainty.

Qn 2: Or can I wait a few months after my job confirmation and apply for the loan? Thank you.

Ans 2: Yes, you can wait a couple of months after your job confirmation to apply for a loan. Again, pls ensure you have the banks' support in your EC unit purchase before committing the purchase.

Thank you

Call us for a discussion on your EC purchase or surf over to www.sgECsales.com to view many on sale/ballot ECs.

Andrew Ngauw
 8188 8887 
GPS Alliance Read More