Asked by Anonymous
My husband and I are are SPR for 3 years. Please correct me if I am wrong, as what we understand that we need to get hdb to do valuation on the resale hdb after getting OTP with the deposit of up to $5k.
We were wondering, what if we found out that the cost over valuation for example is $50k, which mean that we have to pay additional $50k on top to 33% of deposit (25% Down payments and 8% of stamp duty as SPR). As the bank loan is only up to 75 % based on LTV (HDB valuation).
If at that point in time, we have constraints budget to pay additional $50k on top of the 33% of down payments . Will our deposit paid during OTP of up to $5k get forfeited ? Is there any alternative to avoid such incident to happen? Appreciate for your reply.
We were wondering, what if we found out that the cost over valuation for example is $50k, which mean that we have to pay additional $50k on top to 33% of deposit (25% Down payments and 8% of stamp duty as SPR). As the bank loan is only up to 75 % based on LTV (HDB valuation).
If at that point in time, we have constraints budget to pay additional $50k on top of the 33% of down payments . Will our deposit paid during OTP of up to $5k get forfeited ? Is there any alternative to avoid such incident to happen? Appreciate for your reply.
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