Asked by john
Hi i am a indian PR I would like to by a 4 room flat how much cash required?
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1 Answer
Hi John,
Which area are you looking at? The price range is very wide.
For eg, a 4rm flat valuation $400k, COV at $30k. Since you are PR, need to take bank loan. Assume you qualify 80% loan, cash needed.
1) 5% cash: $20k.
2) 15% cash/cpf: $60k.
3) Stamp duty cash/cpf: $7.5k
4) COV cash: $30k.
5) Agent commission cash 1%+gst: $4.6k
6) Lawyer fee cash: $2.5k
Depending how much CPF you have in OA acount, the cash requirement can range from $57k to $125k based on the example above.
Also, it is good to do an in-principle approval from bank to determine your loan quantum. I can refer you to some bankers whom i closely work with.
Appreciate you can call me at 98628691 to discuss further.
Thanks.
Ander DTZ Read More
Which area are you looking at? The price range is very wide.
For eg, a 4rm flat valuation $400k, COV at $30k. Since you are PR, need to take bank loan. Assume you qualify 80% loan, cash needed.
1) 5% cash: $20k.
2) 15% cash/cpf: $60k.
3) Stamp duty cash/cpf: $7.5k
4) COV cash: $30k.
5) Agent commission cash 1%+gst: $4.6k
6) Lawyer fee cash: $2.5k
Depending how much CPF you have in OA acount, the cash requirement can range from $57k to $125k based on the example above.
Also, it is good to do an in-principle approval from bank to determine your loan quantum. I can refer you to some bankers whom i closely work with.
Appreciate you can call me at 98628691 to discuss further.
Thanks.
Ander DTZ Read More