I'm still new to this website. I'm bit curious for the amount for the bank draft. As an example if i am interested with house that worth RM100,000 how much is the amount that I need to pay for bank draft?
What happen if I managed to bid the 'dream' house but failed to get the loan for that house?
Hope someone can advice me on these. Thanks in advance for your kind assistance.
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Re:Amount for Bank Draft
Date: 2008/04/02 21:33
By: boss
Status: Admin
Karma: -1
Admin
Posts: 53
Hi olynnz,
I'm still new to this website. I'm bit curious for the amount for the bank draft. As an example if i am interested with house that worth RM100,000 how much is the amount that I need to pay for bank draft?
>> That will depend on whether the stated deposit is 5% or 10%. For your case, 5% = RM5000; 10% = RM10,000.
What happen if I managed to bid the 'dream' house but failed to get the loan for that house?
>> It is always advisable to check with your banker whether you are eligible for the loan amount before you go for bidding as failure to obtain financing for the balance purchase price will cause your 5% or 10% deposit being forfeited.
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