AskGuru Q&A Community

Good morning buyer,

Do take note that as of now, buyer will apply for valuation after price is agreed between both parties. After valuation is out then you will know whether is there any valuation.

Best way to tell whether will there be any valuation will be that check the purchase price against past transactions to see whether are you offering the right price.

By the way other than these expenses, you will need to take note of these as well.

1) $80 resale application fee
2) $200 valuation fee
3) pro rated property tax
4) agent commission (1% of purchase price plus 7% GST)

Probably you can share with me your finances (CPF and cash) on hand and requirements for your purchase so I will have a better idea to assist and advise you further.

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com Read More

Hi,

We will only have an idea how much COV (if any) is required after the valuation is out. The hdb process has changed such that you have to agree price first before going for valuation, hence asking prices on this site does not say much about COV. However, with a professional agent input, its not difficult to estimate the valuation so you will not over offer, that's where an agent get value-add.

Other than what you mentioned, other fees include:
Hdb admin fees approx 300
Pro-rated property tax
Agent commission 1%+GST.

On whether you can max out the cpf OA to use for this purchase, it depends on a few factors such as age of property, purchaser profile and how much is it in the OA. Thanks and may I have more details of your housing plans so to make better recommendations? Let's discuss further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

Afternoon,

Advertised pricing are the intended selling prices. Interested buyers will then offer what they deem reasonable. When seller issue option, the buyer will request for valuation report. Only when the report is out, will we know if cash top up is required. Other fee like ABSD, stamp duty, legal fee, valuation fee are to be paid on top of the agreed transaction price. All buyers are eligible for utilize all the CPF OA funds for purchase of residential property unless the property have a balance of less than 60 years of lease.

Do feel free to contact me should you required additional assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi,
1. COV will only know after valuation. But since you are not taking any loan, no valuation is required and the agreed price will be the final figure.
2. No other processing fee
3. Yes, you can utilized max CPF before cash. Fyi, depends on your age, there is a min sum required to keep in CPF
You purchase will be consider as cash purchase.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More