Hi all,
Let say 350k house for auction, normally need how much cash to prepare? Like 10% + lawyer + etc
Ignore outstanding bills/utilities, considering everything smooth like newly vp project, but up for auction
Thanks
Auction properties
Auction properties
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Jan 29 2019, 04:19 PM
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#1
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Newbie
5 posts Joined: Jan 2019 |
Hi all,
Let say 350k house for auction, normally need how much cash to prepare? Like 10% + lawyer + etc Ignore outstanding bills/utilities, considering everything smooth like newly vp project, but up for auction Thanks |
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Jan 29 2019, 05:39 PM
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#2
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Newbie
5 posts Joined: Jan 2019 |
QUOTE(AskarPerang @ Jan 29 2019, 04:45 PM) Where got so much. Noted tqvm bossThe cost is just like buying from subsale property. You are paying the same thing. 10% as downpayment (for 1st and 2nd property. 3rd property onwards, you will need 30% as bank allow to loan you up to 70% MOF only) 5% as legal fees, stamp duty (assume no 1st home buyer waiver) and valuation fees For newly completed property, be sure that the 1st owner bank already disburse out all money (especially the final 2.5% payment) to the developer. Developer is still alive and active to avoid any delay in the later process. Then that's it. There should not be any additional cost involve. What happen if bank not yet disburse the 2.5%? This post has been edited by Babo: Jan 29 2019, 05:44 PM |
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