Hey bro,

How't things?

Day was busy busy busy. 

Here you go. I started from No.4 onwards:

1. Sign letter offer and legal doc
2. Ex-bank issue confirmation letter on how much my is balance
3. Current bank pay my balance in ex-bank (and forwards Deed of RnR for execution)
4. Ex-bank returns original docs to current bank with Deed of RnR.
5. Stamping of Deed of RnR
6. Revocation of PA
7. Submission of FA, new DOA and new PA  for adjudication
8. Payment of stamp duty for FA, new DOA and new PA  for adjudication
9. Registration of new PA in Court
10.Notice of assignment to Developer
11. Lawyer advises bank to drawdown (release balance loan sum).
12. You get $$$ from refinancing in bank

Buying cash or taking loan?

. Pay 10% and sign SPA, MOT and other docs
. Purchaser lodges caveat
. Purc sol sends MOT for adjudication followed by stamping.
. Purc signs loan docs
. Bank lodges caveat
. Loan doc sent for adjudication followed by stamping.
. Letter of undertaking by vendor to bank to refund monies.
. Letter of undertaking by Bank to vendor to release loan.
. Vendor releases docs to purchaser's sol
. Purchaser's sol releases all docs including withdrawal of cav, Form 14A(MOT). and registration fees to loan sol.
. Loan sol withdraws both caveats, presents Form 14A and registers charge
. Loan sol advises for drawdown of loan sum
. Payment of loan sum/balance purchase price to vendor and hand over of vacant possession.

As to how long, it would normally be faster than a normal transaction where the vendor still has an outstanding loan, but it depends on how fast the bank and the bank's sol move as well as the purc's sol. Don't delay the application for loan, as things will only move once the loan sol starts the ball rolling and writes to the purc's sol.

It would normally be faster as you eliminate one trail of correspondence and can reduce turnover. Some SPA lawyers can also reduce the disbursements if you appoint them to do the loan doc as well.

However, it depends on how efficient and knowledgeable your SPA lawyer is to do the loan doc. If they are efficient, then all the better. Otherwise, it will end up delaying the whole process.

A double-edged sword,really. If you're confident with your lawyer, then go ahead.