hello everyone,
I just spoken to someone whom have chosen to drop out. I met him onsite before and he was actually quite keen to pick a flat for KW. His queue number is 10x.
But eventually he was forced to give up his queue number due to the following facts.
1) He currently owns a flat. Both husband and wife are working. They have 1 kid.
2) As it is not convenient to ask his salary, I guessed that their combined incomes are approximately 7-8K per month based on the age of their look. They are in their 40s. However, they have their commitments too e.g. they own a car.
3) As he currently owns a flat, his entire CPF are used to pay off his current flat loan. His CPF is left with $5000.
4) Which means in order to buy KW, he can only depend on the CPF of his wife.
5) According to him, he plans to get housing loan, however, due to his situation (still servicing his current flat loan), he can't borrow that much.
6) As a result, he needs to fork out at least $150,000 during key collection which he feels he is not confident to do so.
7) Hence he gave up his queue number to go for SEP BTO.
This is what I heard from him and he is quite sure a lot of people are like him. Facing with this problem.
Those who are like him, better start planning what you are going to do.
If you have doubts, feel free to ask here. But I dun have his contact so it is not possible to ask him anymore. We met 2 times only.