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 Purchasing Property Timeline, Wondering when to make payments

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teslaman
post Apr 7 2022, 11:44 PM

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QUOTE(lilac @ Apr 7 2022, 11:40 PM)
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? - yes loan approved / S&P signed
2. When do you start servicing the loan? After key handover? - this between you and bank, only after bank fully disburse the money
3. When do you start paying for the legal fees and tax? - from start of process to lawyer, upfront cash all
4. Any other items to pay during this transaction period? - new or old property?

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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