View Full Version : Completion date for resale pc?
Normally how long it takes to fully complete the resale of pc transactions? Is the procedures the same as when you sell your HDB? Can anyone mind to share?
blackjack21trader
20-03-13, 08:24
Normally how long it takes to fully complete the resale of pc transactions? Is the procedures the same as when you sell your HDB? Can anyone mind to share?
Dear brother irisng, I am so very very happy you ask this question here. As you are most aware, many brothers and sisters here are expert landlords and hence they will be most helpful to assist you.
I for one, as you know, is a very handsome brother and will hence be the first to tell you. Everyday I look into the mirror, I find myself very handsome. But anyway, that is another matter entirely....
Sometimes the mirror is dirty, so I cannot see clearly. But I wipe it clean and walah ! I see a handsome man again.....
At other times, the mirror is clean, but my wiping cloth is dirty. So I wash it & clean and WALAH ! I see another handsome man again ;)
For my humble 25 years of property investing, the completion of a private resales is around 3 months:
1) 2 weeks to exercise option
2) There after from date 1 above, 8 to 10 weeks to complete the transaction.
Take note to specify both the above dates in your documents. Your lawyer can help you on this :)
For my case, I usually request to complete within 2 months as I will usually exercise the option before the 2 weeks and request the completion to be 8 weeks instead of the usual 10 weeks.
There could be other pertinent points I missed, so lets hear it from the other good brothers and sisters here.
:) :) :)
Good Luck.
princess_morbucks
20-03-13, 09:23
Lol... bro BJ, irisng is a sis lah!
Sis iris...bro bj is rite.
My resale pc I bot in Jan, April got keys, renovate 1 month, then shift in May.
Dear brother irisng, I am so very very happy you ask this question here. As you are most aware, many brothers and sisters here are expert landlords and hence they will be most helpful to assist you.
I for one, as you know, is a very handsome brother and will hence be the first to tell you. Everyday I look into the mirror, I find myself very handsome. But anyway, that is another matter entirely....
Sometimes the mirror is dirty, so I cannot see clearly. But I wipe it clean and walah ! I see a handsome man again.....
At other times, the mirror is clean, but my wiping cloth is dirty. So I wash it & clean and WALAH ! I see another handsome man again ;)
For my humble 25 years of property investing, the completion of a private resales is around 3 months:
1) 2 weeks to exercise option
2) There after from date 1 above, 8 to 10 weeks to complete the transaction.
Take note to specify both the above dates in your documents. Your lawyer can help you on this :)
For my case, I usually request to complete within 2 months as I will usually exercise the option before the 2 weeks and request the completion to be 8 weeks instead of the usual 10 weeks.
There could be other pertinent points I missed, so lets hear it from the other good brothers and sisters here.
:) :) :)
Good Luck.
hmm so from a seller's point of view, when will you receive 100% of your selling price?
On completion day... you will receive whatever is left after CPF, agent fees, lawyer fees and feels like a million :D
blackjack21trader
20-03-13, 09:47
hmm so from a seller's point of view, when will you receive 100% of your selling price?
excluding the option money which was the deposit paid by the buyer immediately to the seller, the exercise money which is paid 14 days later shall be held by the law society trust account. after which, on completion day, you will be paid the balance by cashier's order including the exercise money which can be immediately credited to your account if you collect the CO from the lawyer on completion day and then deposit at the bank before 2 pm.
:)
blackjack21trader
20-03-13, 09:48
On completion day... you will receive whatever is left after CPF, agent fees, lawyer fees and feels like a million :D
yes, i forgotten about all the hidden costs. these shall be deducted faithfully from your proceeds. woahahahahahheheheheheh
And ssd is paid upon buyer exercising his option? :/ 3 months before u could recover your money
I realised theres a lot of experienced buyers here but few seasoned sellers actually.
So all happy like bird sitting on paper profits.
Fyi Not necessary 8 to 10 weeks could be longer also, I ever stretch 16 weeks but only buyer agrees.
I realised theres a lot of experienced buyers here but few seasoned sellers actually.
So all happy like bird sitting on paper profits.
Haha... and sitting will soon be shitting if prices plunge like some forummers say :scared-5:
blackjack21trader
20-03-13, 11:11
Fyi Not necessary 8 to 10 weeks could be longer also, I ever stretch 16 weeks but only buyer agrees.
yes. that is correct :) you are very handsome.
Haha... and sitting will soon be shitting if prices plunge like some forummers say :scared-5:
those are siao lang la. they have no idea what is the objectives of FED or even the World Settlement Bank. they could end up waiting until they see coffin before seeing the crash la.
woahaheheheehheheh
Let the most handsome man, who walks with the illuminated, enlighten you guys.
The main objective is to elevate China's consumer quality so as to form a solid foundation for the next global growth agenda.
This could be seen as a fasten strategy to push the wealth level of the new middle class so that they can replace the past western consumers.
good luck, that is all i can reveal.
take note that RMB is slowly being liberalised and do you have any idea before that is materialised, how much US$ you must print?
woahahehehehehehhehehe
Fear not the crash, but the mega bull.
A big crash will reset all to same level. But a mega bull will seperate you further away from the handsome me.
woahehehehehehehheheheh
dumbs get dumber especially big neh neh.
Fear not the crash, but the mega bull.
A big crash will reset all to same level. But a mega bull will seperate you further away from the handsome me.
woahehehehehehehheheheh
dumbs get dumber especially big neh neh.
So true my bro! cheers......charrrrrrrrrge!
take note that RMB is slowly being liberalised and do you have any idea before that is materialised, how much US$ you must print?
woahahehehehehehhehehe
the hint is found in history.
back in the 1970s to 1990s, you have about 200million and 300million US and European consumers.
the end of that era saw the emergence of a potential of more than 1 Billion New middle class from China.
Based on historical extrapolation, it took 30 years to fully consume the western consumers. For the new china consumers, i expect around 60 years before the next crash...by then... I already become FAIRY LIAO la....woahahehehehehehehhehe
Thank you brothers and sisters. How about valuation, the agent get the valuer or I have to get it myself. Where should we do all the transactions, for public housing, we did all the documentation at HDB but how about for the pc, is it at the lawyer firm?
Handsome brother BJ, tell you secretly, I was once a pretty girl too :D but now my mirror is too dirty already, I can't see myself clearly anymore.:scared-3:
Thank you brothers and sisters. How about valuation, the agent get the valuer or I have to get it myself. Where should we do all the transactions, for public housing, we did all the documentation at HDB but how about for the pc, is it at the lawyer firm?
Handsome brother BJ, tell you secretly, I was once a pretty girl too :D but now my mirror is too dirty already, I can't see myself clearly anymore.:scared-3:
Hi
For PC, you will have a lawyer to carry out the conveyance work, between CPF, banks, agent fee, property tax refunds, MCST refunds, keys and access cards etc.. typically $2k to $3k. All in all just a visit to the lawyer's office towards the completion of sale.
Valuation is from the buyer's end, usually the bank handling their mortgage loan.
sorry i don't know about the selling of HDB.
Hi
For PC, you will have a lawyer to carry out the conveyance work, between CPF, banks, agent fee, property tax refunds, MCST refunds, keys and access cards etc.. typically $2k to $3k. All in all just a visit to the lawyer's office towards the completion of sale.
Valuation is from the buyer's end, usually the bank handling their mortgage loan.
sorry i don't know about the selling of HDB.
Thank you so much.
remember to call bank find out exact date for ur rate change and match completion date exactly.
u early or late by a day they can charge u hefty penalty :beats-me-man:
sister ur buyer bank will give them indicative valuation and get their valuer to match, so u dunnid do anything except open door for valuer. :)
i telling u coz u pretty girl hor :D
Thank you brothers and sisters. How about valuation, the agent get the valuer or I have to get it myself. Where should we do all the transactions, for public housing, we did all the documentation at HDB but how about for the pc, is it at the lawyer firm?
Handsome brother BJ, tell you secretly, I was once a pretty girl too :D but now my mirror is too dirty already, I can't see myself clearly anymore.:scared-3:
remember to call bank find out exact date for ur rate change and match completion date exactly, ur early or late by a day they can charge u hefty penalty :beats-me-man:
Wow, never know difference in date can also get a hefty penalty.
Sorry, btw, what do you mean by "ur rate change"?
i telling u coz u pretty girl hor
Aiyo, no more pretty girl liao lah, now is already an "obasan".
if you on variable % 3 month sibor or sor, they will reassess the rate every 3 months and mail you the new rate. there is an exact date of change. call bank and ask them. then tell buyers completion on that date only.
Wow, never know difference in date can also get a hefty penalty.
Sorry, btw, what do you mean by "ur rate change"?
Aiyo, no more pretty girl liao lah, now is already an "obasan".
blackjack21trader
21-03-13, 19:13
Thank you brothers and sisters.....
Handsome brother BJ, tell you secretly, I was once a pretty girl too :D but now my mirror is too dirty already, I can't see myself clearly anymore.:scared-3:
I DUN BELIEVE YOU !
I BELIEVE YOU ARE STILL AS PRETTY AS BEFORE. I saw your beautiful self with my THIRD EYE..paiseh....I mean that I can mentally feel your beauty...not physical vision, dun misunderstand hor.
Your kind words and kind heart shown in this forum double confirm that my THIRD EYE IS CORRECT.
That you are so so so beautiful that whenever you walk past any florist, the florist would run out of the shop to scold you...and how so ?
Because you are so beautiful that the flowers all commit suicide when they see you la......
DUN BLUFF !
:(
wahpiangeh... now I know why so many florists close shop liao la.
:(
bro bj, dun mind tell us how flowers commit suicide ?
:doh: :doh: :doh:
and how do you "feel" beauty without seeing it, bro bj, please enlighten us leh :)
blackjack21trader
21-03-13, 19:30
wow wow wow ...slow down a bit... I will answer the questions one by one:
A1) You can tell a beautiful person without seeing by the "tone" they use in this forum. For example, if the person sound very nice, most likely the person is very happy and satisfied with his or her look. And how so ? Pretty of course everyday happy la...and also very well mannered, tiobo ?
If ugly and have to carry two big neh neh like 2 big parcels to the Post Office then sure not happy with one's own look, everyday will swear one and everyday also angry one la.
A2) Flowers commit suicide by booming with bright colors and nice scent to attract the scissors of the florists lor.
:(
A1) You can tell a beautiful person without seeing by the "tone" they use in this forum. For example, if the person sound very nice, most likely the person is very happy and satisfied with his or her look. And how so ? Pretty of course everyday happy la...and also very well mannered, tiobo ?
I'm joking only, I'm not a beautiful "woman" lah. I think I need to dig a hole and hide myself liow.:ashamed1:
A2) Flowers commit suicide by booming with bright colors and nice scent to attract the scissors of the florists lor.
Bro BJ, you are so humorous and there are some of the forummers here also quite humorous. Seems like long time never have such feeling anymore, so many heated arguments nowadays in this forum.
if you on variable % 3 month sibor or sor, they will reassess the rate every 3 months and mail you the new rate. there is an exact date of change. call bank and ask them. then tell buyers completion on that date only.
Thank you so much.
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