The appointment was bright and early at 8.15am but as I reached early at about 8 I was first in line, at counter 32 for resale flats. So for those who are gonna buy resale flats and have a time slot at 8.15, go early as there are many people queuing within that same time frame. Early in line = you get done sooner.
It was at this juncture where I received a text from the boy and he said something sweet which made me smile. I don’t suppose he knows how much it means to me and how it made me feel a load better. It is the little things that matter..
I’m feeling quite terrible actually. It all began since last night and yeh I am feeling ill indeed. A tad overwhelmed. Technically I usually feel better regardless of how ill or tired I am when I see my boy. I am not sure if he heard me saying that though.
I digress. Back to the first appointment. The process is relatively simple. Get a number from the counter and wait for the number to be called and that’s where you walk into one of the rooms for the assessment. They’ll deal with the buyers first, then as a whole with the sellers, and then the buyers are allowed to leave after they are done while the staff deals with the sellers. I took a bank loan for a resale purchase and the approximate amount of time it took from start to finish was 1 hour.
I did get pretty cheesed off over 1 matter though. I called HDB specifically to ask if my BC was all that’s necessary to prove that I am the son of my dad and mom. My parents got divorced when I was a kid so now I am forming a nucleus with my mom, with my step dad as an occupier. Turns out, they require the divorce papers, as proof that I am not a illegitimate kid. After all, you need to have been married before u could go through a divorce. I don’t blame them for this but why couldn’t they tell me this earlier? My mom had to dig the boxes (cause we just moved a couple months back) and honestly had they informed me earlier I would have asked my dad who appeared to be the lesser of the 2 affected. I know where my mom stands and taking out those divorce papers to fax them over, is tough. I don’t know… but I feel it is tough. It is something when once done, u don’t wanna look at it again. Bingo, it had to be, and at such notice. I can only feel for my mom.. and this is what that annoyed me the most. I was angry beyond angry, tired, sick, but the whole process had to complete before I ran over to the lawyer’s office which was just a couple floors up.
PKWA LLC was selected by the bank I took the loan from and seriously, HDB has a lot more papers and procedures to sign and document as compared to private property. Yet I think this can be good cause it is rather idiot proof. U follow the process and you probably wont go very wrong.
I was attended to by the counter staff who took my documents, made the copies as necessary, and I took the wait for my turn. I was called soon after by Nora who’s the BDM and did all the proceedings with me. Once done, the lawyer came over, verified the documents that they were accurate, witness the signing of some documents and left Nora to complete the rest.It was all done in less than an hour.
I was free to go and had to rush to work!
My experience? Relatively fuss easy. Staff are generally patient to explain things to me and as I opted to select my completion date to be 8 weeks from today (March 16th) and that I did not need to witness the handing over of keys to me, the law firm will liaise with HDB and the sellers to witness the handing over of keys to me on my behalf. I will then be able to visit the firm to collect the keys at my convenience thereafter. My bank interest rate with HSBC is SIBOR +1.1%. I did hear DBS came up with a SIBOR +1% soon after but I missed the boat. Not much difference anyway. With HDB’s loan at 2.6% and mine at 1.8% based on current SIBOR rate, I needed to ensure should SIBOR leap I will be able to handle the loan while I await an opportunity to refinance.
The next major step would be to source for contractors, designers, and watever lobang a new home owner needs. If any of you have an tips, advice, anything at all, pls share! I know the reno part is gonna be the killer part, but it is all good for I will sow the rewards later. I just need to prep myself mentally and adjust my stress level accordingly.
I am gonna head off to bed soon.. still feeling unwell. For now this has been a rather interesting morning. Stay tuned.. for more..!
PS – the first appoointment with HDB is done at their Toa Payoh hub office, next to the bus interchange.