1 Answer

YT Tan (陈永达)
Good evening Anoop! If you are purchasing a resale unit, procedures will be: - Obtain in principle approval (IPA) from bank to find out how much can you loan before house hunting - Once you are interested in a unit, issue a cash/cheque of 1% (of purchase price) to seller to receive option to purchase (OTP) - Need to obtain letter of offer (LO) from bank to exercise the OTP with 4% cash/ cheque (to make up 5% deposit), Buyer's stamp duty (BSD), Additional buyer's stamp duty (ABSD), Mortgage's stamp duty, legal fees within 2 weeks (option period) from OTP grant date - Wait for 6 to 8 weeks completion period to get the keys Note: option and completion period can be negotiated between buyer and seller. If you need any assistance in your property purchase, feel free to contact me. Cheers! Warmest Regards, YT TAN 陈永达 | ACCA Graduate, RES Senior District Manager R043025D ECG Property Pte Ltd (A Wholly Owned Subsidiary of ECG Group of Companies) Estate Agent no. L3009759F Blk 190 Lorong 6 Toa Payoh #05-508 S (310190) (M): +65 9111 5171  (E): yt.lovelyhomes@gmail.com (W): www.yttan.com (W): yttan.stproperty.com.sg/ (W) www.lovelyhomes.com.sg (W) www.ecgproperty.com Read More
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