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Hi,

If its a completed property, its typically 1%+4% to exercise the option and confirm the unit. The balance 95% is payable only at completion date which is typically 3-4 months later. You can put it in writing to request for completion at Dec, and for the property to be handed over in vacant possession (without any tenant and furniture). Yes as long as you are not owner, property tax is not payable. But its an insignificant sum compared to the purchase price and stamp duties.

It appears you may be uncertain about the purchase process, might be good to engage an agent. May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

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

Email: Ivanng10@gmail.com
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Hi,

For your situation, you can discuss with the Seller of that property on the completion date of the sale/purchase to be closer to December. Of course, the Seller would have to be agreeable too.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi, yes you can drag the exercise date for a long period too so that hopefully by the time you collected the keys of the unit, the existing tenancy would be ending by then. It seems that you are very unsure of all the process of property purchasing issue, so it may be good for you to appoint an agent to assist you further so as to avoid unnecessary problem that may arise.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More