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Dear sir/madam,

As a SPR family, you will only be eligible for resale EC, and assuming that you have sold the current 4A, your maximum loan eligible will be at 75% therefore downpayment will be 25% where minimum 5% must be in cash with remaining 20% to be made up from CPF and/or cash, regardless for 5A HDB, resale EC or condo. On top of the normal buyer's stamp duty of 3% to 4% depending on the purchase price, you will also be subjected to Additional Buyer's Stamp Duty of 5% as your first property based on the assumption that you have sold your 4A HDB. Legal fees is in the range of $3000 +/-.

Hope the above helps.

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
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Dear Sir/Mdm,

For upgrading, you will need to pay special attention to both your cash flow and the timeline so as to minimise your cashflow and transit seamlessly without the need for an interim housing solution.

Assuming a maximum cost of 1.35 mil, the breakdown is as follow:

5% Cash - $67,500
20% CPF - $270,000
Buyer Stamp Duty - $38,600
ABSD (5%) - $67,500
Legal Fees - $2,500

You may use the sales proceeds of your HDB to offset these cost. I have assisted many of my clients in the same situation as you to upgrade smoothly from their HBD to a private property. Please feel free to contact me so that I can understand your situation better and draw up an upgrading plan for you!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020
Visit my website to get to know me better:
www.nicktan.com.sg
I was featured recently on Council for Estate Agencies (CEA) Newsletter:
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“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
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Hi,

A very merry Christmas and Happy New Year to you and your family too!

For property purchase for SPR family, if you can qualify for the ax 75% loan, you will need to fork out 25% as downpayment, out of which 5% must be in Cash.

In terms of stamp duties, ABSD of 5% is applicable if you manage to sell your flat before you commit to a purchase. Else, if you commit to purchase before you sell, you will be liable for 15% ABSD. This is on top of the normal BSD that everyone needs to pay for a property purchase.

Hence, I would strongly recommend that you sell your current flat before you commit to exercise for your purchase. In this situation, Timeline planning is crucial, as I also believe that you do not wish to shift house more than once, right?

I am experienced and well-versed in both HDB and private transactions, and have helped many families in their upgrading and downgrading plans. I will be able to assist you in your property upgrading plans.

Should you need require 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 in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi,

Merry christmas and happy new year in advance!

Approach (A)

For SPR family who are upgrading from their HDB to another 900k HDB, the breakdown is as follows:

5% Cash 45k
20% CPF OA 180k
75% Max bank loan 675k
5% ABSD 45k (can use CPF OA if sufficient)
Approx 3% BSD and legal fees 24.1k (can use CPF OA if sufficient)

Monthly installment for ($675k, 1.4% pa, 20 years loan) is about $3,227
Approach (B)

For SPR family who are upgrading from their HDB to another another $1.4m private property, the breakdown is as follows:

5% Cash 70k
20% CPF OA 280k
75% Max bank loan $1.05m
5% ABSD 70k (can use CPF OA if sufficient)
Approx 3% BSD and legal fees 43.1k (can use CPF OA if sufficient)

Monthly installment for ($1.05mil, 1.4% pa, 20 years loan) is about $5,019 .

For Approach (B), it is better you sell off your HDB first before you buy the private property, otherwise the higher ABSD rate of 15% is applicable and is not refundable.

It seems you are undecided on which property type for the next one? Happy to share more about the pros & cons of both options and see which approach is best for your plans.

I have worked with similar cases and would be happy to share the best approach for a smooth transition. 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 Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

ERA Top 11 Achiever in June 2020 (Top 1% Company Level)
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-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --

I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.

-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --

I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan. Read More

Hi,

I'm assuming you are qualified to get 75% loan-to-value from the bank.

The cost of different purchase are as follow:
1) Pte/EC ($1.35M)
5% cash = $67,500
20% cash and/or CPF = $270,000
Legal fee = $2,500~$3,000
Buyer Stamp duty (~4%) = $38,600 (cash or CPF)
Additional Buyer Stamp Duty (5%) = $67,500 [This is assume you are able to provide exercised OTP at the time of purchase]

Total: $446,600

2) HDB ($900k)
5% = $45,000
20% cash and/or CPF = $180,000
Legal fee = $2,500~$3,000
Buyer Stamp duty (~3%) = $21,600
Additional Buyer Stamp Duty (5%) = $45,000 (Cash and/or CPF)

Total: $294,600

A) Take note that without an exercised OTP, you will be subject to 15% ABSD, and this amount cannot apply to get reimbursed from IRAS.
B) The payment is always cash first, follow by CPF and loan last. I give an example according to the HDB scenario; $900k:

You have CPF OA amount of $250,000. After paying 5% cash. The rest of the payment such as 20% downpayment, BSD, ABSD, legal fee is $249,600. You may use your CPF OA to pay them, and left with $400 in your OA.
You only have CPF OA amount of $200,000. You have to fork out another $49,600 to pay your BSD, and part of ABSD, thereafter than can activate CPF to pay the rest such as downpayment and legal fee.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Hi, I would be most glad to assist you further and pls feel free to let me know if you need any banker’s contact or any other assistance. Hope to hear from you soon and have a great week ahead.

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

Before you even dwell on the purchase, it'd be imperative to know if your house can be sold easily. That is the first step even before talking about buying.

Feel free to contact me to discuss further.

Regards,
Teck Chuan
BBA (Finance), NUS
Marketing Director
ERA Realty Network Pte Ltd
Mobile: 91374602  Read More

Hi sir

The breakdown is as below for $900k HDB is as follows
Cash Component:
5% - $45k
CPF/Cash component:
20% deposit: $18,000
BSD - $21,600
ABSD - $45,00
Legal Fees: $1,800

For private property budget $1.35 mil:
5% - $54,000
CPF/Cash Component:
20% deposit: $270,000
BSD: $38,600
ABSD: $67,500
Legal Fees: $2,500

Do note that the ABSD portion is calculate assuming you have sold your current HDB flat. The rest of 75% purchased price can be financed with bank loan provided the bank can grant you the maximum loan quantum. With trends showing that HDB flat do depreciate in value in recent years while private property is always on a high demand, it may be worth investing in a private property if you can afford it. I have experienced assisting HDB upgrader transitioning smoothly to private properties. Do contact me at 93375051  for a free and non obligatory discussions on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More