Today rain whole day, some past moments just slip into my mind.....
A month after i pay my booking fee for my clementi flat. I visit a friend at Lorong Ah Soo. His father told me though his location alittle "ulu" but he wont sell his flat and buy a new one cos its so troublesome? Then i think to myself.......troublesome?...............or he just wanted to avoid trouble............
Today i test already......its really troublesome.........initially i am not convinced.....cos i think that i also buy a new flat before............how troublesome can it be?...............but buying a second new unit is really differernt from buying a new one first time.........
let me breakdown the difference between buying your first unit and buying your 2nd unit.......
1. The amount of paperwork.........u buy first flat...........just focusing on buying it will do.........u buy a second new one........u must settle the paperwork to sell your current flat and then u must settle the paperwork to buy the new flat.....really headache....let me give an example....after paying booking fee for my clementi unit..........the next thing i must do is to sell my punggol flat...but at the same time i must apply HLR for my new unit.....wait for approval....selling a flat already complicated enough but u also think about buying flat matters also.....why i say selling a flat is complicated?.............u must know u r not the only one selling in the whole block............if u need to sell at good price...........u need a good strategy.........
2. U need to have enough hard cash........when u buy a new HDB unit, they want u to pay upfront deposit(be it in the form of CPF or cash), they dont care whether u are still servicing your curent flat loan, HDB also cant wait for u to sell your flat and pay them. So u must pay them upfront...........many end up having bridging loan from the bank to pay HDB....they will return the bridging loan after they sold their current flat..............bridging loan is a nice term..........but the interest rate they charge also very nice.......
3.The amount of legal fee...u pay stamp fee, legal fee, completion fee, survey fee........a lot of funny fee..........they name it, you just have to pay it..........no room for argument.......hahaha...give an example, after my first appointment with my buyer last month, HDB officer ask me pay completion legal fee upstair, i forgot is $200++ or $300++.............then i think.......pay again?....today i dont even see lawyer............also must pay legal fee..................
A month after i pay my booking fee for my clementi flat. I visit a friend at Lorong Ah Soo. His father told me though his location alittle "ulu" but he wont sell his flat and buy a new one cos its so troublesome? Then i think to myself.......troublesome?...............or he just wanted to avoid trouble............
Today i test already......its really troublesome.........initially i am not convinced.....cos i think that i also buy a new flat before............how troublesome can it be?...............but buying a second new unit is really differernt from buying a new one first time.........
let me breakdown the difference between buying your first unit and buying your 2nd unit.......
1. The amount of paperwork.........u buy first flat...........just focusing on buying it will do.........u buy a second new one........u must settle the paperwork to sell your current flat and then u must settle the paperwork to buy the new flat.....really headache....let me give an example....after paying booking fee for my clementi unit..........the next thing i must do is to sell my punggol flat...but at the same time i must apply HLR for my new unit.....wait for approval....selling a flat already complicated enough but u also think about buying flat matters also.....why i say selling a flat is complicated?.............u must know u r not the only one selling in the whole block............if u need to sell at good price...........u need a good strategy.........
2. U need to have enough hard cash........when u buy a new HDB unit, they want u to pay upfront deposit(be it in the form of CPF or cash), they dont care whether u are still servicing your curent flat loan, HDB also cant wait for u to sell your flat and pay them. So u must pay them upfront...........many end up having bridging loan from the bank to pay HDB....they will return the bridging loan after they sold their current flat..............bridging loan is a nice term..........but the interest rate they charge also very nice.......
3.The amount of legal fee...u pay stamp fee, legal fee, completion fee, survey fee........a lot of funny fee..........they name it, you just have to pay it..........no room for argument.......hahaha...give an example, after my first appointment with my buyer last month, HDB officer ask me pay completion legal fee upstair, i forgot is $200++ or $300++.............then i think.......pay again?....today i dont even see lawyer............also must pay legal fee..................
4. Also after u buy your first flat, you can take your time to move in and renovate slowly if u money no enough........but you buy a 2nd new flat the move in speed is different........u need to move in fast...........cos after u sell your first flat..........u need to move out fast and move into your new unit cos the buyer who buy your last unit will want to move in soon. So time is not on your side.
Before i got this 2nd new unit.........my wife and i often go jalan jalan during the weekend.........but now not much "mood" to do so.......hope this nightmare end soon...........hahaha.........
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