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Hello, I would like to know whether it is a standard procedure when one is buying a commercial property, 20% is needed for upgfront payment. What I understand is that 5% in cash and 15% cpf if applicable. This assumes bank or finance company would pay the balance 80%.
How about if bank or finance company only agrees to pay 60%?
How about if cpf is applicable in this case, does it mean we pay 20% in cash? Thx
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3 Answers

YT Tan (陈永达)
Replied
Good afternoon commercial buyer,

Do take note that you are not able to use CPF OA funds for commercial property purchase. If the bank is able to loan you up to certain percentage, you have to pay the remaining percentage by cash. For instance, 50% loan therefore downpayment is 50% cash. Probably you can speak to my bankers to advise on your in principle approval first.

Hope my explanation helps!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com Read More
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Patrick Lee
Replied
Dear Buyer, Like what YT Tan Said, for commercial properties you cant used your CPF, not only that Normally in the market Bank approval will be from 50-70% approval for loan depending on TDSR, depends on how many properties you had taken a loan and also if you are buying it under personal name or company name as all these is a factor which will affect your loan quantum. Lastly also depends on if you have any known banker to yourself which also will assist you in getting a better loan.

Do feel free to drop me a call for more discussion to assist you in getting the right property to run your business.

regards
Patrick Lee
CEA: R014511H
C&H International Pte Ltd
(M): +6593299559 
(E): sgpropertyguy@gmail.com Read More
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D. Kumar
Replied
Hi there,

Financial calculations are sphered different in commercial properties. There can't be the use of your CPF. Please feel free to contact me at 96659926  for a non obligatory discussion to be in a better position to advise you further in the most detailed and thorough manner, in your financial cash flow and loan matters. There are currently many star buy commercial units, going at immense discounts! I will be more than glad to walk you through the entire process to value add your understanding and make your purchase a less tedious one!

Visit my website to view my testimonials & recent awards to gather more information on me: www.kumarrai.com

Look forward to hearing from you!

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com
www.singapore-newproperties.com.
contactdkumarrai@gmail.com

About Me-

ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group-
2014 Overall Top Achievers
2014 December ERA Top Achievers
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