Excitedly Signing Our Money Away!

About a month ago, Sunshine received notification from HDB informing us that we were invited to go to HDB to sign our Agreement for Lease. This happened about three weeks before the actual day on 29 Nov 2016. I think this timeline is sufficient to give most people enough time to prepare and apply for leave if needed. This signing of agreement happened around three months after our first appointment, which was what had been conveyed to us when we selected our flat.

Excitedly signing our money away

Sunshine then login to My HDBPage to read on what we need to read more information about it. During this signing of Agreement for Lease, HDB would required us to pay 5% of the total purchase price of the flat (for other people, it may be 10%, depending on one’s eligibility. Read here for more information on staggered downpayment), lease stamp fee and conveyancing fee. HDB notified us that Sunshine and I have enough money in our CPF for us to pay this amount entirely using our CPF monies. Lucky sia! I read that we also have to bring along one of our bank statements or bank passbook so that HDB can credit the option fee (paid during flat selection) back to us and hence, I brought my passbook.

Excitedly signing our money away 1

Thankfully for us, our signing of Agreement for Lease falls on a weekday at 6.55pm. Hence, both Sunshine and I do not have to apply leave just for this appointment. When we arrived at HDB though, almost all the doors were locked and we could not find our way in. We quickly checked our appointment date and time again, went to the third level to check and walked around the whole premises on the first floor before we found the small entrance. =.=” As HDB was already closed to public and only those with appointments can enter the premises, the area was quite quiet and our number was prompted called soon after we registered.

The personnel explained to us what we were paying, the total amount, what was left in our CPF accounts, how much we need to pay when we collect our keys next year (another 5% of the total purchase price of the flat) and that we must pay either using cash or NETS as we would not have sufficient funds in our CPF accounts by then. Oh. There was no need for the passbook. I was told to just write my bank account details on a piece of paper. If I remembered correctly, the option fee would be returned to us within two weeks. After signing a few documents, we were done! Everything had been settled within 20 minutes and we went for dinner together. 🙂

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A novice baker =)

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