Hi,
1) Other than those who use cash for the property purchase, all buyers are advised to get an IPA or HLE before any home search.
2) This is how we practice as well. We will usually consult multiple banks and do a comparison with our client at the beginning of the home search process.
2) This is to prepare when there is a change of bank rate, and the promotion package might differ from the point of application.
3) Do note that IPA only valid for 7 days, thus you have to judge when you should apply.
4) Once you received the valuation report, you have to request the bank to process LOO (Letter Of Offer) immediately, because HDB OTP is only valid for 21 days.
5) Some banks took ages to process a LOO and could miss the exercise expiry date.
6) Do note that every LOO is only valid for a particular unit and tied to the valuation report.
7) The bank has to redo a new LOO for a new valuation report. Thus you have to repeat the whole nine-yard to process OTP offering, submit for valuation, etc.
8) Finally, do not exercise your OTP until you received LOO.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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