Le Quest Showflat Location & Address
Le Quest Condo exact location will be located at Bukit Batok West Ave 6.
Update: Below is the Showflat exact location, please call +65 6685 5536 to make your appointment to the Le Quest showroom.
Below image showing Le Quest showroom venue.
5 Preparations to Take Note Before Visiting Le Quest Showroom
- Remember to find out the amount of CPF you can use for Le Quest Purchase.
- Take some time to talk to a banker on how much you are eligible to loan. Tell them your existing property portfolio and the financial commitments.
- Are you affected by the ABSD? You will need to know the bracket you are in.
- The flow on how Normal Progressive Payment Scheme works
- For the actual launch date, you will need to understand how the Balloting system functions.
Register early (preferably now) to stay updated on Le Quest information and also understand how the above functions work.
Detailed Writeup About Things to Do Before You Visit Le Quest Showflat
Are you planning to visit the Le Quest show flat? If so, then it’s important to know the things before show flat. After you’ve decided to buy a new flat it’s important to take some steps in order to get the best results.
The process is a bit more complex than it might seem. One of the most important issues is your purchasing power. The most obvious factor is your budget and how much you’re able/willing to spend.
Even that issue is a bit complex. For example, how many properties are in your name? What’s your monthly/yearly income? How big of a loan can you secure based on factors like your income and monthly expenses? These are all important factors that affect your ability to purchase new properties.Click here to read more
The key is to take some important steps before you attend the show flat. Here are some helpful ones:
1. Get the Approval-in-Principle of your Housing Loan for Le Quest Condo
This is definitely one of the most important steps to take, but you might be surprised by how many people don’t take it. If you want to buy a property one of the most important steps to take is getting the loan’s approval-in-principle (AIP). Without this info, you won’t be able to set an accurate budget for your property purchase. That’s definitely a situation you’ll want to avoid.
On the other hand, with the AIP you will then know the exact amount a bank will be willing/able to lend you for the purpose of purchasing a property. Not only that, but the process is free. More good news is the bank only needs about 3 working days for processing your request.
Make sure that you have the right documents for the process. They include:
- NRIC/passport of purchasers (copy)
- Latest 1-year of your IRAS Tax Assessment Return
- Last 3 months of payslips/IRAS Tax Assessment Return
- Declaration form of credit facilities
- HDB page that shows HDB status
- Application form
- Last 12 months of your CPR contribution
- Latest credit card statements
This might seem like a lot of documents. However, it’s important to consider that you’re in the process of buying a property.
2. Understanding the way the Balloting Process functions For Le Quest Qingjian
This is yet another important step to take before you attend a flatshow in Singapore. Before a new condominium is launched there’s a preview period of 1-2 weeks. This allows you some time to preview the showflat and also research the price and unit size. Buyers who preview a showflat throughout this period get a chance to register for a no-obligation seat during launch date.
The registration makes you eligible so you can ballot units prior to the public launch. That’s where units are sold as they’re available. IT’s quite common for early bird discounts to be offered to buyers who purchase on launch day.
If you want to register for balloting it’s important to have the right documents. They include:
- Copy of NRIC
- Expression of Interest (EOI) form that’s filled out and signed
- A check was written to developer project’s account
What happens if you decide not to purchase a unit at launch? In that case, you’ll get a full set of all the documents you submitted
3. Find out your CPF available for the Le Quest purchase
It’s important to learn what your Central Provident Fund (CPF) amount is that you could use for purchasing a property. The maximum amount of funds you can use for the purchase is the amount of money in your Ordinary Account (OA) fund.
In the case that you’re buying your 2nd property, you must make sure that you meet the minimum amount of $75,000 in the combined total of the OA and Special Account (SA). This is an important step so it’s important to check it before you go to a flatshow. It will take some research, but it’s definitely worthwhile so you’ll know exactly how much money is available for your property purchase. The good news is there are various online resources that can help you with this process.
4. Understand how NPS works for Le Quest Condo
It’s important to understand how the Normal Progressive Payment Scheme (NPS) works before you purchase Le Quest in Singapore. It’s now the standard payment scheme that’s used in nearly all new condominium projects launched in Singapore. It’s important to understand the progression of payments. It will help when you plan the cash flow of any property purchases you make n the country.
Here are some of the main issues:
- A cash payment of 5% is made to the developer’s project account in order to get an Option To Purchase (OTP).
- Within a period of 2 weeks, the developer sends the Sales and Purchase Agreement (S&P) to the buyer’s address
- After receiving the S&P you have 3 weeks to use the contact at the solicitor’s office. If you don’t use the contract you’re refunded 7% of the Option Fee that you paid.
- After you use the agreement you must pay a Stamp Duty/ABSD within 14 days starting from the date of purchase.
- The leftover 15% of the downpayment is paid within 8 weeks starting from the original OTP date.
5. Know ABSD bracket
This is another important step to take before you attend the showroom. Why is it so critical to know your Additional Buyer Stamp Duty (ABSD) bracket you’re in? this is a very important step to take if you’re being considered for a property purchase. In Singapore, the first property doesn’t involve any ABSD. However, the 2nd property is taxed at 7% and the 3rd property is taxed at 10% based on the purchase price.
Another important issue is whether you’re a Permanent Resident (PR). In that case, the first property purchase you make is taxed at 5% of the purchase price. After that, your next property purchased are taxed at 10% of the property price.
Finally, there are the issues of taxes on property purchased by Foreigners and entities. This is important if you’re not from Singapore. I that case your property purchases are taxed at a rate of 15% of the property’s price.