5 Answers

Ivan Ng
Replied
Hi Ms. Ting,

Based on 500K selling price, and assume valuation comes in at 490K, yes 120K is sufficient for downpayment. As you can only take a bank loan of maximum 80% of purchase price or valuation (whiche er lower)

Details as follows:
Downpayment
5% cash (24.5k)
15% cash/cpf (73.5k)

Stamp fees
BSD of about 3% of purchase price (15k) +
ABSD of 5% of purchasd price (24.5k)

Legal fees
About 3K

Potential cash over valuation
10K

So you are looking at about 150K to prepare. You might wish to reconsider your options. And yes, eligible to purchase HDB, but have to sell overseas property within 6 months of getting resale flat. Can I help.to assist in your property purchase?

Thanks,
Ivan Ng ERA
 97432395 
Ivanng10@gmail.com Read More
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Ivan Ng
Replied
Mike Lim
Replied
Morning Gigi,

Assuming that you have $75k in CPF and managed to get 80% loan, you will need cash component of at least $75k more, in order to facilitate the purchase of unit at $500k.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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YT Tan (陈永达)
Replied
Good morning Gigi,

Your initial outlay will be 20% downpayment (provided you can loan up to 80%) and 8% stamp duties (estimated 3% buyer's stamp duty and 5% additional buyer's stamp duty as SPR).

You need at least $30k more (inclusive of agent's fees) top of your $120k CPF + cash.

Maybe let my banker to advise you on your IPA so you can gauge how much loan can you obtain.

Do take note that your fiancé has to dispose off his interest in overseas property within 6 months after completion.

If you need any assistance in your property purchase, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More
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CK Ang
Replied
Hi Gigi, assuming your loan is up to 80% of the valuation, 120K is just nice. It is very important to understand the break down of the calculation. Please let me know if you like me to send you the break down.

I am reachable at my mobile.

CK Ang
 90463808 
Vestor Realty Read More
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