Monday, November 05, 2007

A Good Deal... or is it?

My wife and I are discussing what we should do, to circumvent our current situation:

1.       The rental contract for the current flat is ending 31-Dec.

2.      The advice to renew/terminate rental contract can’t be later than 1-Dec.

3.      We are allowed to get the keys and occupy the resale flat starting 16-Dec.

4.      The valuation report will not be out until 2nd week of Nov, at most.

5.       The re-application of bank loan for the new flat can’t be done without the valuation report.

6.      The bank loan re-application may be fast, but it will still take some time, perhaps 2-3 days.

7.      The resale application can only be submitted by 17-Nov, to mark the year 5 of the building.

8.      First appointment letter may be out by the last week of Nov, to be optimistic.

9.      Date of first appointment may be end of Jan-2008, not week 3 of Dec; more transactions, less workforce.

10.   Resale Completion date may be end of Feb-2008.

11.   Renovations can’t be done until completion date is over.



1.       To occupy the resale flat prior to completion date, at least the first appointment letter must be on hand.

2.      There should be at least 1 week after the owners have vacated the unit before we move in.

3.      Even if we move in, only a couple of items should be brought in.

4.      The 1-week “slack period” is to allow the flat some fallow time; after the week is over, we will have some “cleaning time”, before moving in. of course, we will open up the flat and let the air in and through the house within the 1-week period, so that nothing untoward happens, like something unintentionally left gets rotten, and you discover only after a week… or something like that.

5.       Let the first appointment take place, before we move in. As there is a possibility for the resale to be rescheduled, rejected, or cancelled, due to one or both parties not appearing at the first appointment, this is an event that must take place before we can move in, safely, into the flat.



1.       The first appointment letter is a must; can’t allow the prior problem of putting in the full deposit, then getting a rejection/cancellation notice from the Board that our race is ineligible to buy in that block. Also this is already check beforehand, we’ve decided to be doubly sure that the resale is not going to hit a problem – we must have the first appointment letter on hand.

2.      Even with the first appointment letter on hand, there is still a possibility of any party (seller/buyer) not appearing on the first appointment. When that happens, the resale can be rejected/cancelled by the Housing Board, at their own discretion and judgment. This, again, is a major problem. Well, the party at fault will be charged in court, unless the reason is legally valid and accepted, but that will put us, as the buyers in a very problematic situation: we would have no place to stay.

3.      Having no place to stay is worse than having to pay a thousand dollars rental.


In all of these, I can relate to David’s cry, when he said in 1 Chron 21;13, “David said to Gad, ‘I am in deep distress. Let me fall into the hands of the Lord, for his mercy is very great; but do not let me fall into the hands of men.”


Although the Lord has given us a very good deal, with men able to put their hands into it, and change the situation, I would rather wait until it a a clear green light, rather than being in a situation that would allow evil to triumph.


May God grant us compassion and clear mind to handle the situation well.

To Him be the glory alone!

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