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I am targeting to buy a HDB 4 room by end of this year. If my cash & CPF are only ready and enough to pay the 5 % + 15% downpayment in Feb 2013, when is the suitable time for me to start to view interested House ? From paying 1k to 4K to the owner ( OTP), how long is the period? And also How long is the period between 1st appointment & 2nd Appointment ? Is the COV CASH & 5 % CASH + 15 $ CPF need to settled in 2nd appointment
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1 Answer

Mike Lim
Replied
Evening Chin,

To purchase HDB unit with bank loan, you can actually start hunting in early Feb 2013, after the CNY. But you can get banker to assess your loan ability slightly earlier.
After paying Option, you have 14 days to Exercise. Upon submission of documents to HDB, your first appointment is around 5 to 6 weeks away. You are required to pay the COV - $5k (Option and Exercise monies), 5% cash and 15% CPF, stamp and legal fee around 21 days from completion. The completion date is around 6 to 8 weeks from 1st appointment date.

Do feel free to contact me if you require further assistance.

Regards
Mike Lim
 96929209 
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