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> My first home property investment: Flora Damansara, Advise, Feedback, & Comments? Investment

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SUStat3179
post Jun 23 2012, 08:04 AM

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QUOTE(lilac @ Jun 22 2012, 11:46 PM)
This is at Block F. Corner unit.

Was just wondering about the purchase process and loan as this is my first.
After loan approval and I pass the bank my SnP and all, how will the bank make the payment?

I hear people using loan money to do renovation and extra stuff, but how do they do that? do they state it prior to loan application?
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For that you have to get the seller to agree to do a "markup" prior before applying for loan.

For example, your agreed price is actually 100k, but you get the owner to declare in your SNP that the sale price is 120k. So long the bank approve the SNP valuation, you pay the owner the 100k and you pocket the rest.

But since you got the loan already I think it is bait too late already.

BTW, pls check your PM.

 

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