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Cash Purchaser

 
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pcgo



Joined: 15 Mar 2006
Posts: 6

PostPosted: Wed Mar 15, 2006 2:45 pm    Post subject: Cash Purchaser Reply with quote

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Last edited by pcgo on Mon Mar 27, 2006 6:03 pm; edited 2 times in total
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winnie the pooh



Joined: 24 Jan 2006
Posts: 1999

PostPosted: Wed Mar 15, 2006 5:48 pm    Post subject: Reply with quote

can i buy by cash? - most definitely
mode of payment? - depends on construction progress
pay full deposit? - upon signing your sale and purchase agreement

points to note for cash purchasers... check whether the developer has taken any bridging finance cause you've got to get from the financier (i) the redemption amount for your property (ii) some letter of disclaimer/undertakings.

reason for (i) - you wouldn't want to pay everything to the developer without the assurance that they will settle their loan with their financier. hence, first pasyments should be remitted to the financier until full redemption amount is paid

reason for (ii) - in the event developer defaults their bridging finance, the financier will not sell off your property to recover the outstanding amount.

noor713... boleh pakai, tak?
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Noor713



Joined: 15 May 2005
Posts: 507
Location: Sri Hartamas

PostPosted: Thu Mar 16, 2006 1:09 pm    Post subject: Reply with quote

From what I've gathered from pcgo's post, he/she is buying a hse from a developer. For a such a case, then I can say you are right, winnie.

One additional note though, for those buying from a secondary market, mode of payment for the balance purchase price will be different.

Cheers!
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