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Check Buyer's Financing Eligibility
If the buyer requires loan financing, details such as income, commitments, and employment type must be provided to calculate the maximum approved loan amount. Cash buyers can skip this step.
House Inspection
The buyer will be taken to inspect the condition of the house. If the house price is open for negotiation, this is the time for the buyer to make an offer.
The buyer will be taken to inspect the condition of the house. If the house price is open for negotiation, this is the time for the buyer to make an offer.
Pay 3.18% Booking Fee of the House Price
Once the buyer agrees to purchase the house, they must pay a booking fee of at least 3.18% of the house price as a sign of agreement. The booking fee will be refunded if the bank loan application is not approved. The booking fee will be forfeited if the buyer's loan application is approved but they change their mind or decide not to proceed with the purchase. Therefore, the buyer must think carefully before paying the booking fee.
Once the buyer agrees to purchase the house, they must pay a booking fee of at least 3.18% of the house price as a sign of agreement. The booking fee will be refunded if the bank loan application is not approved. The booking fee will be forfeited if the buyer's loan application is approved but they change their mind or decide not to proceed with the purchase. Therefore, the buyer must think carefully before paying the booking fee.
LPPSA Financing Application 1 Month - 1.5 Months
The loan financing application will be processed.
The loan financing application will be processed.
Lawyer will Prepare the Sales & Purchase Agreement (S&P) in 1 Week
Signing of the Sales & Purchase Agreement (S&P)
The buyer needs to visit the lawyer's office to sign the Sales & Purchase Agreement (S&P).
The buyer needs to visit the lawyer's office to sign the Sales & Purchase Agreement (S&P).
Signing of the LPPSA Loan Agreement
Once the buyer successfully obtains a loan from LPPSA, they need to sign the loan agreement.
Once the buyer successfully obtains a loan from LPPSA, they need to sign the loan agreement.
Can apply for EPF withdrawal to pay the remaining 6.82% deposit
Among the purposes that allow contributors to withdraw funds from their EPF savings is to pay the house purchase deposit. Only withdrawals from EPF account 2 are allowed. If the loan margin is 100% or full loan, the maximum EPF withdrawal is 10% of the house price. If the loan margin is 90% or full loan, the maximum EPF withdrawal is 20% of the house price.
Among the purposes that allow contributors to withdraw funds from their EPF savings is to pay the house purchase deposit. Only withdrawals from EPF account 2 are allowed. If the loan margin is 100% or full loan, the maximum EPF withdrawal is 10% of the house price. If the loan margin is 90% or full loan, the maximum EPF withdrawal is 20% of the house price.
Transfer of Ownership will be processed by the lawyer
Waiting Period of 5 - 6 Months for Government Financing and additional +2 Months if the buyer purchases low/medium-cost houses.
Waiting Period of 5 - 6 Months for Government Financing and additional +2 Months if the buyer purchases low/medium-cost houses.
Handover of Keys.