Once you have signed the booking form for your dream home, you can start applying for a loan right away! Preparing the documents for your home loan is not that hard if you’ve prepared all the necessary documents. Whether you are purchasing a developer unit (new launch project) or sub-sale unit, the requirements are similar. Let’s check it out!
To put it simply, sub-sale properties are properties that you'll be purchasing from an existing owner. On the other hand, new properties, sometimes known as under-construction properties, are freshly new from the developer site.
A regular employee and self-employed person will need to prepare different types of documents. If you are under regular employment or self-employed and wish to purchase a developer unit, then these are the documents you need to prepare! However, if you decide to purchase a sub-sale unit, you just need to prepare two extra documents which are the vendor sales and purchase agreement (S&P) of the property, and a copy of property title. All done! Now you can submit the documents to your preferred financial institution.
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