Hi Roshini,
The downpayment for purchasing a condo will be 20% which will consist of 5% cash and 15% CPF. Any shortfall in CPF will need to be paid in cash.
Other fees need to be paid:
1) buyer's stamp duty
(3% x purchase price) $5,400
Additional buyer's stamp duty of 10% will be subjected if you are a foreigner
2) legal fees of $2800 to $3000 which can be subsidised partially by bank.
Btw it is always advisable to obtain an In Principle loan before you start your house hunting. If you need any bankers to advise you on it, I can introduce some to you as well.
Feel free to contact me if you need assistance in your property purchase.
Warmest Regards,
YT TAN
District Consultant
R043025D
(M):
9111 5171 (E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
ECG Property Pte Ltd
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