[quote=Seremban_Guy123,Oct 17 2013, 04:01 PM]
[quote=cheryee,Oct 17 2013, 03:49 PM]
Usually it is 14 days from the date of the progressive billing. Late payment will be subjected to penalty.

Boss Cheryee, the SPS SA said the status of DIBS only
can be confirmed after budget 2014. How the government
approve DIBS before this...

[/quote]

Its conditional DIBS, right?
But, i think those loans approved before Budget 2014 confirm got DIBS.
So, cepat cepat pergi approve itu loan.

Anyways, removal of DIBS will only take effect for new launches; or loans approve after 1 Jan 2014.
Hence, its safe, to get the loan approved as soon as possible.
However, if DIBS is banned effective immediately, I think somehow rather SPS will have to give some sort of a rebate.

You can refer to what CY has said.
What will happen is, the execution will have to be in order, means the banks' lawyers will advise the banker that all docs have been received in full and in order; meaning that buyer has settled all convenats that needs to be satisfied before bank drawdown the progressive 70% payment.

Either way, you have to come up with 30% DP, just that it wont be on SPA signing date, you have a few months; my opinion at most 3 months time to pay up the remaining 20% after settling the 10% DP during SPA signing. The initial works cost more money than the later ones, so, the progressive payment will come fast, hence you need to be prepared.