Asked by Anonymous
Hi, I'm considering of buying a second property under construction. The first property is still under financing. I understand that I'm only eligible for 50% loan for the second property. Due to initial capital constraints, I'm may not able to folk out the entire 50% cash immediately, but if I plan my budget carefully, I should be able to cover the shortfall within a year or less. My questions are: 1. Is it safe or advisable to commit my purchased if the property is newly launched and the first foundation and the completion of reinforced concrete framework are expected to be within 6 and 12 months respectively down the road? (which by that time, the shortfall should be coverred) 2. Is there any penalty or what is the consequence if there is a delayed payment to developer? Thanks.
1035 views
