QUOTE(sk_lim_taurus @ Mar 11 2009, 12:17 PM)
we all learning in properties line. this is my 1st purchase. so pls do correct me if i'm wrong.
just from wat i found from banker n developer, how they are charging us. before bank release any money to developer, bank cannot charge us cos we are 'not owning' bank any money. pls refer to schedule of payment that attached to S&P

developer will bill bank based on the progress of construction. after bank release the payment, the portion will be our loan amount.

yes.. my point exactly..
if u paid 10% and then 90% loan.. they will bill bank based on how many % built.. there's a guide on the billing thingie.. my bro told me to check out on the ministry website..
but cuz im only loan 70 or 75% so i need to paid 10% when i sign SPA.. and then depending on how many % built.. i need to pay the next 10%.. and so on..
so i think if 90%.. we will start paying the bank little by little until fully owned the property..
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and yeah.. i did not get any calls from bankers at all.. think i should start calling them now..
how long have u guys booked ur unit?
i remember they say 14 days from booking.. still looking for loan tho..
will call up public bank and ocbc tomorrow..