Posted Mar 31, 2008

Michael,

To buy a resale condo, you need to make sure you have sufficient cash for the option fees, exercising of the option and other miscellanous fees. You may want to drop me at sghousingpartners@gmail.com.

Regards
Ignatius

Posted Apr 2, 2008

hi Michael,

The general procedure for buying resale condos is:

1)initial 1% cash of the purchase price called the "option fee" (writing a cheque) is made to the vendor upon buying. The vendor then issues the "option-to-purchase" docu to the buyer via his agent or himself.

2) The "option-to-purchase" has a 14-day grace period (counts from the date of the issuant of the "option-to-purchase"), which deters the vendor from considering other offers.

3) The buyer will need to exercise (i.e. signing the acceptance copy) the "option-to-purchase" & made payment for next 4% cash called the “option exercising fee” (writing a cheque) within or by the 14-day grace period, preferably in the presence of the buyer’s solicitor. Failing to do so will result in the initial 1% “option fee” to be forfeited by the vendor.

4) The balance 95% of the purchase price will be due upon completion date of the transaction, usually 8 to 10 weeks from the date of exercising the “option-to-purchase”. Shorter or longer completion period has to be discussed and mutually agreed by the vendor and buyer.


Additional Notes:

1) Buyer has up to maximum 14 days from the date of exercising the “option-to-purchase” to make payment for Stamp Duty fee. CPF/cash can be used for this purpose.

Stamp Duty fee = 3% of purchase price – $$5400 (approx)

2) PRs/Singaporeans can apply for bank loan up to *90% of the purchase price or valuation, whichever is lower. As for foreigners, bank loan cap is at *80% of the purchase price or valuation, whichever is lower.


3) Upon successfully obtaining a bank loan, the bank will subsidise the buyer’s legal fee up to max. S$2000. Buyer’s market legal fee is from S$2800 to $3200, depending on buyer’s requirements.

4) Buyer of S’pore private property is not required to pay agent commission.


* Terms & condition apply

Btw, I have a readily updated list of “good-buy, value-for-money” condo properties cat

Posted Apr 3, 2008

Hi Michael ,

The procedure is very striaght forward , let me know your budget , which area you prefer , from there I can guide you along . Call me at (+65)92272638 or drop me at andy.cheng@orangetee.com .

Best Regards
Andy Cheng (OrangeTee)

Posted Jul 7, 2008

Buying a condo is not as easy as you thought, some just show you and you decide without knowing that which one is most worth to invest. I am in real estate 18years , which help me to advice my clients where and what is best to buy for own stay or investment. feel free to call or email me 81283138 or taykelvin@yahoo.com

Kelvin Tay / PropNex Grandeur

Posted Jul 22, 2008

Hi Michael,

Well there are too many things as written so why not contact and discuss which is much better and clear picture

Joseph Ong
97834542

Posted Jul 25, 2008

Dear micheal,
To get a resale condo, u have to prepare 1% of option money. beside u can find a good banker to give u good interest rate & they will assist financing proposal for u. if u need more further information, while not drop me sms/ contact me, i'm willing to assist u ! good day

best regards,

Zane chew
Mobile : 9477 8866
email : Lsalice @ yahoo.com

Posted Aug 26, 2008

Hi Michael Koh, just engage a property agent. You may get recommendations from friends or simply look up the papers. Pay the agent 1% service fee. In this respect, the agt will work for you in your TOTAL interest. Rgds Ravin 9798-5917 fr KNIGHT FRANK

Posted Sep 3, 2008

Dear sir,

Though there are many agents out there, you may be thinking to yourself who do you wish to engage? Just try your luck maybe. Well, you can trim to three or two, eventually one who could and would focus and give you his reasonabe advice to suit your needs.

You may call me at 9636 8506 or email me at: soheddie@singnet.com.sg

Thank you and look forward to hearing from you.

Regards
Eddie Soh
DTZ