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Selling my 1st house, Nusantara Prima, under construction.

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Selling my 1st house, Nusantara Prima, under construction.

Postby daamz » Thu Aug 30, 2012 10:35 am

Guys,

Is there any possibilty for me to let go my house which is under construction and might get the key by end of 2013? i've never ask my lawyer yet. But im sure u guys have info. I use UOB mortgage with lock-in period is 3 years while the penalty is 3% (i think).

thanks,

daam
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Re: Selling my 1st house, Nusantara Prima, under constructio

Postby linkor » Thu Aug 30, 2012 10:54 am

if u got buyer, you can sign S&P first but cannot stamp. date also cannot put. You still have to service your loan until S&P stamped and completed.
You can collect 10% downpayment if buyer willing to pay.

but, why not wait till VP ?
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Re: Selling my 1st house, Nusantara Prima, under constructio

Postby Property lover » Thu Aug 30, 2012 11:01 am

Not usually done but you may sign SPA with conditional precedent,I.e. conditional upon vp..

This way, u can collect 10%, lock in the sale... But, all cost prior to vp, such as interest ( if no DIBS) will still be born by u.

But, from now till end 2013 is still long way leh... What if the price is much better then? Unless u have reason for it.

P.s. : I presume bank has released some progressive payment already.
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Re: Selling my 1st house, Nusantara Prima, under constructio

Postby daamz » Thu Aug 30, 2012 11:51 am

yes.. bank hv released some amount, time by time. my reason is to free up a bit space of my loan capability to buy another house. i plan to buy Setia Eco Village or Gerbang Nusajaya which is will be launch maybe end of this year and i think its shuld be around 500k for the cheapest house there. i think base on calculation i still able to make a loan for another 1.8k-2k..

what is VP actually then? validation period? hehe

what do you guys think? hold till get key then sell, or try to sell it now?
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Re: Selling my 1st house, Nusantara Prima, under constructio

Postby daamz » Thu Aug 30, 2012 11:55 am

or is there other nice residential project around Nusajaya? im working in Singapore and use 2nd link to go work. i'm searching for nice house yet affordable for me. Estimation price is around 400k for intermediate terrace house and got G&G.

edit - maybe wrong place to ask this question.. :) :)
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Re: Selling my 1st house, Nusantara Prima, under constructio

Postby Property lover » Thu Aug 30, 2012 12:36 pm

daamz wrote:yes.. bank hv released some amount, time by time. my reason is to free up a bit space of my loan capability to buy another house. i plan to buy Setia Eco Village or Gerbang Nusajaya which is will be launch maybe end of this year and i think its shuld be around 500k for the cheapest house there. i think base on calculation i still able to make a loan for another 1.8k-2k..

what is VP actually then? validation period? hehe

what do you guys think? hold till get key then sell, or try to sell it now?

Vp is vacant possession. Ie upon completion of the house by developer.
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Re: Selling my 1st house, Nusantara Prima, under constructio

Postby linkor » Thu Aug 30, 2012 12:44 pm

daamz wrote:yes.. bank hv released some amount, time by time. my reason is to free up a bit space of my loan capability to buy another house. i plan to buy Setia Eco Village or Gerbang Nusajaya which is will be launch maybe end of this year and i think its shuld be around 500k for the cheapest house there. i think base on calculation i still able to make a loan for another 1.8k-2k..

what is VP actually then? validation period? hehe

what do you guys think? hold till get key then sell, or try to sell it now?


VP means vacant possession , aka got CF, keys.
1) Selling now doesn't free up your loan. Because the loan not settled.
2) imo, It is better to sell after got keys, unless u really want the 10% down payment NOW OR you really sure the price u selling is future price. ;)
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Re: Selling my 1st house, Nusantara Prima, under constructio

Postby daamz » Thu Aug 30, 2012 2:59 pm

tq sir.. i might wait till get the key then.. and my journey to get another house hope to end somwer soon..
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Re: Selling my 1st house, Nusantara Prima, under constructio

Postby Money168 » Fri Aug 31, 2012 2:26 am

Daamz, where is Gerbang Nusajaya?? is it nice?? How big it will be?
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Re: Selling my 1st house, Nusantara Prima, under constructio

Postby Roy » Fri Aug 31, 2012 7:54 am

So what you can do now is pray and hope the Government remove the 70% LTV for 3rd loan onwards in the upcoming Budget =)
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