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Close to complete the purchase of a private condo. However, I need some professional views. I'm a first time buyer (Singaporean). Could you elaborate on the following enquiries
Condo prices $685,000 (I'm aware of the 10%+20%+70%)
a. How much stamp duty do I have to pay? Mode of payment?
b. How much is the legal fees?
c. Any Caveat cost?
d. Do I need to pay agent fee?
e. Any other hidden cost, administrative cost, etc?

Appreciate and thank-u....
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1 Answer

Samuel Ngiam Thong Yeap
Replied
Hi Ian, stamp duty is a standard 3% of the purchase price. The legal fees (conveyancing) is about $2500-$3000 and is usually waived by the bank if you take up their mortgage loan plan. No agent fee is required as your agent will cobroke the commission from the selling agent. There should not be any other hidden or administrative costs.

Hope this helps. No offense taken, I was wondering why your agent is not helping you with these queries.

If you need any further enquiries, feel free to ask anytime.

Regards,
Louise
CB Richard Ellis
 98512860  Read More
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  • SL
    Replied
    Thank-u, Louise

    I'm still looking for an apartment or condo. New or resale (less than 10 yrs). My budget is below 700k. Studio, 1 or 2 rooms is sufficient. Around Telok Kurau, Joo Chiat, Mariam Road/Way, River Valley, mainly eastern side....
    Regards,
    ST Lim

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