AskGuru Q&A Community

Hi Mr Ng,

The 1st criteria to buy resale for 2x SPR is both had hold the PR residence status for min of 3 yrs.

Below are the breakdown of cost for $540k property:

Cash:
(1) Option fee + exercising fees (deposit) = $5,000.
(3) Miscellaneous: $15
(4) Resale Application: $80
(5) Registration & microfilming: $215.90
(6) Valuation fee: $199.25 for 3-room & bigger
(7) Fire insurance: $5
(8) Mortgagee's caveat: $64.45
(9) Title Search fee: $10.40
(10) Agent fee (1%+GST): $5,778

Total: $11,368

CPF if sufficient:
(1) Legal fees: $116 (can use CPF using HDB loan), =<$2k for bank's lawyer (Cash)
(2) Stamp duty: $10,800 (can use CPF)

Total: $10,916

Min downpayment:
= $54,000 (10%) if taking HDB loan
= $81,000 (15%) if taking bank loan (cash + CPF) + $27,000 (cash)

Hope the above answer to your main concerns, but if there are more queries, 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

Note:
Any response to our answer do not reach us until we scroll through each and every queries posted daily.
The best way to get a follow up is to whatsapp or email us directly. Read More

Good afternoon Mr Ng,

Congrats on your impending marriage!

Because both of you are SPRs, you are only eligible for max 80% bank loan thus the initial cash outlay will be as such:

1) 5% cash downpayment inclusive of $5k option deposit
2) 15% cpf/ cash downpayment (depends how much CPF OA funds you intend to use)
3) estimated 8% stamp duties (5% additional buyer's stamp duty as SPR) - cash outlay depends how much CPF OA funds you have
4) $3000 legal fee (depends how much CPF OA funds you have)
5) $80 resale application fee
6) $200 valuation fee
7) agent commission (1% of purchase price plus GST)

estimated initial outlay will be around 28% of purchase price. Cash outlay will depend how much CPF OA funds you intend to use.

Perhaps you can share more with me so I will be in a better position to advise you further.

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yttanassetprogessor

Accolades:

Platinum achiever (Clock $100k commission within 1 month) August 2017(Propnex)
Top Individual Achiever August 2017(Powerful Negotiators Group)
Top Private Property Transactors January 2017 (Propnex)

Find out your property value for FREE on a monthly basis. Simply sign up by clicking the link below:

http://bit.ly/yt_proptrack Read More