QUOTE(asil66 @ Aug 21 2013, 12:02 AM)
ur process is correct, was told da same thing by banker n gyc... but not too sure bout da timeline to sign snp...
Fyi, for those who wants to use EPF withdrawal to pay partially / fully for the 48800 - 20000 - 3000 = 25800 or 22800 (depends on your buying price) Well you need to pay attention on how you sign:
1. You signed a letter to give notice to the Developer aka Mah Sing to state that you're going to use EPF withdrawal to withdraw and make payment.
2. Therefore they do not require you to pay the 1st 10% right away.
3. You'll need to get a stamped S&P (get within 2 weeks) and Bank Loan Offer Letter (already approved) to go to EPF to apply for the withdrawal, this process usually takes about 3 weeks.
4. Once you have settled the EPF, let's say your total EPF withdrawal is lesser than your 1st 10% (25800 or 22800) then you may get a bank draft / cheque to issue to the developer to settle off the remaining amount.
Besides for your info, if you didn't read the agreement properly, these are the info that I can remember, please add if you have more:
1. The title of the property is Master Title
- you cannot party more than 15 people without permission
- your maids / employees cannot go to club house
- The MOT will take place after 3 years of VP. They will change the title to Strata title. The MOT will cost about roughly 10,000
- No external renovations/paintings is allowed to maintain the high quality external looks of the property.
- Your pots of flowers must be in your compound at all times.
- You can only dry your clothes behind your house, not in front of the house to maintain the overall view of the property
hope this helps