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Hi Mr. Chia,

May I know are you looking at under construction or completed property? May I have also more details such as the minimum sum cohort you fall under and also which project you are looking at? I will be able to give you an estimate of the cash outlay required with more details shared and make better recommendations. Please note that 7% ABSD applies if you are SC. Thanks and look forward to value-adding to your plans further.

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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Good evening Junwei,

As you are purchasing a second residential property in Singapore thus you will have to take note of these restrictions before you proceed further.

1) you can obtain max 80% bank loan as you have no outstanding loan.
2) you will be subject to 7% additional buyer's stamp duty as Singaporean
3) Since you have utilised CPF OA funds in your current flat, you have to set aside $80.5k in your CPF OA + SA first before you can utilise the excess in this purchase.

Thus your initial outlay will be as such:

1) 20% downpayment
2) estimated 3% buyer's stamp duty
3) 7% ABSD
4) $2.5k legal fees
5) valuation fee etc

For example, if you are looking at a $1m property you will require $300k cash (assuming you dont have CPF OA funds to utilise)

Hope my sharing is beneficial to your property purchase.

May I know how can I continue to value add in this purchase?

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
R043025D
Propnex Realty Pte Ltd

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com Read More

Hi Mr Chia,

Re: Our Preferred SG Professional- Agent.myweb.sg & Agent.irealtor.sg

600k entry level for purchase property. Both of you need 30% of 600K to be prudent in view of ABSD of 7%.

Feel free to engage me as your agent. I can assist you based upon your stated contents and walk you through the entire process with options.

Call me now, we can explore further in detail.

I am contactable at 92222389  or onassis@sgrealtor.com / sgagent.com

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

Onassis Gan | R021244C | SG Professional l SGRealtor.com & SGAgent.com
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Hi Junwei,

Assuming you get a 1-bedroom unit for $700k, what you need would be 30% upfront (20% downpayment, 3% BSD + legal fees, 7% ABSD). If both you and your wife has $100k in CPF OA + SA, each, you can use a total of $39k only.

Hence you'd need to have $170k - $180k to be safe.

Feel free to contact me at your convenience, and we can carry on from there.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More

Morning Junwei,

Based on today's context, the CPF minimum sum required is $161k, where 50% of it can be pledged with property that have utilized CPF on the mortgage repayment. Based on what you and your spouse currently have in hand, the upcoming purchase will have to be paid with cash, even for the down payment. With your current property being paid and MOP being fulfilled, you will likely be eligible for 80% loan.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi Junwei
I would love to explain and share with you the alternatives plan based on your cash outlay, current financial commitment etc. Lets have a detailed chat to understand better
Tricia Tan 91442664  Read More