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 Purchasing Property Timeline, Wondering when to make payments

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TSlilac
post Apr 7 2022, 11:40 PM, updated 4y ago

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Joined: Aug 2006


Hey Guys, It's been a couple of years since I last made a property purchase and was recently tempted to make another purchase. However, I can't quite recall when to make certain payments.

I do remember 2-3% deposite upon booking. However

1. When do you pay the balance 7-8%? Is it after loan approval?
2. When do you start servicing the loan? After key handover?
3. When do you start paying for the legal fees and tax?
4. Any other items to pay during this transaction period?

Was trying to plan out when to release some funds to make a purchase, and would really appreciate the help from the sifus here smile.gif


 

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