Hi，
1） Yes, you are still able to find such private property within this budget.
2) I only wished to highlight that you have to also prepare for the other cost involved when buying based on this budget:
(a) Buyer stamp duty: $17,100
(b) Legal fees: $2,500~$3,000
3) The above was the critical costs that a lot of buyers neglected when setting their budget.
4) It is also important that you have to check with your banker carefully before making any commitment.
5) Although the journey of looking for your new home might take a longer time than you planned, once confirm everything will kick in very fast, especially on the payment.
6) You have to get your funds ready in the 1st 2 weeks once you offer for a property; 1% for the OTP, 4% to exercise + buyer stamp duty + legal fees (within 7~14 days) from the OTP date.
7) You also have to ensure you are able to get the Letter Of Offer (LOO) from the bank to secure your loan, within 7~14 days from receiving the OTP.
8) The rest of the payment 20% must be ready in another 2.5 months from the OTP date.
9) Do note that if you intend to utilize your CPF for the stamp duty in a resale private property. You will still need to prepare the cash for it before applying for the refund from the CPF board at the end of the completion.
10) It meant that you have to prepare not only the 5% cash but also cash for the buyer stamp duty.
Hope the above answer 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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