Originally Posted by
richwang
Thanks a lot for all the replies.
I was from China. Over there, whoever has access to the physical title deed can use it to get a bank cash loan of 70% or so. That's why my grand mother is so careful about where to hide it. You may not believe it, we don't even know where she hide it even after she has passed away! So no one can sell the unit now. My uncle and his family is staying in the unit (for 70 years?)
In Singapore, I guess I will leave it with HDB Hub. Will they charge me if I change my mind and want to keep it myself? Will loan shark access the physical title deed to get 70% cash loan? Maybe I can get 200K from them.
With my 300K cash in hand, I could have 500K cash.
If I take a 80% bank loan, I could afford 2.5M unit.
OK, anything "smart" in Singapore is likely illegal.
I will just use the 300K to make a 80% bank loan, then maybe I could buy something 1.3M - free hold, low rise.
Thanks,
Richard