Dear all,

I m a first time buyer and would like to seek advise. I understand the downpayment is a minimum of 10% (2% deposit + 8% later)

I would like to know, normally what is the grace period to pay the remainder of 8% :-

1. Is it immediately upon signing of S&P ? (which is about 14 days from deposit)

2. Sign S&P first and then 8% later

3. Any idea how much should I prepare for Legal Fees (S&P and Loan Agreement) for a RM250k property?


I m buying a subsale condo unit.

Thanks
Ron

This post has been edited by coconutzz: Apr 5 2010, 09:33 AM

pay 2% downpayment upon signing the offer letter.
pay remaining 8% to the lawyer upon signing the s&p.

it is immediately upon signing of s&p (you give the remainder 8% to your lawyer)

Meaning, If my lawyer is okay for the delay, then it's okay to delay about 2 more weeks?

no....i think it is the seller that determine if the delay is ok....and bear in mind that if it is more than 2 weeks, the seller has the right to terminate your transaction, and you lose your booking fee

Thank leongal.
Step 1 : Get consent from seller on delay
Step 2 : Inform Lawyer

The reason there may be a delay is because I m waiting for my EPF.

can be discuss with seller, is he/she ok with your situation.

good luck to you...hope your seller is kind enough!

Hopefully la...sighzz..