The First Appointment

22nd July 2008

We exercised our option to purchase on the 16th June 2008. During this process, we officially “booked” the house. This means that after we pay a deposit to “book” the home, no other interested buyers could purchase it! Unless the seller decided to back out during the two weeks window period. After the two weeks for both the buyer and seller to give serious consideration to the deal, once mutual agreement is reached the agent will then arrange for the first appointment with the HDB.

This might be a little senseless to many, but seriously when you are going to buy a flat of your own, the agent will be there to guide you. So don’t worry bout this procedural stuff. Just make sure you got the cash on hand (or at bank) because you will need plenty of it!

So today we went for our first appointment at the HDB. The seller and ourselves signed a whole lot of documents. Boy, do we feel like superstars. I signed till my signature kind of went out of shape and my hand was a little trembling. After the signing of documents, it was the payment part. So our retirement fund (aka CPF) was wiped clean. And every month, money will continue to get sucked out of the CPF accounts for installments. Well, I do feel a little pinch in my heart to see a lump sum amount becomes nought… but well, looking at the bigger picture, I am gonna own my first property right! Thats so exciting!

The whole waiting plus administrative works took us about 1.5 hours. The waiting time was a little slow, but the paperwork was relatively breezy. Payments can be done by cash or cheque. (I know the last sentence is a little redundant, but the image of someone carrying a suitcase of SGD to buy a HDB flat kind of amuses me! lol!)

So well, counting down to September for my second appointment and then the whole resale transaction will be completed! We will get the keys and will then be officially the new owners of our new home!