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Hi, I am a SPR and looking for a 1BDR or 2BDR condo and would like to move in by end of this year. There are a few things that I would like to know.
I am looking at 500k property. So I would require

1) 5% down payment (Cash) = 25K
2) 15% down payment (CPF) = 75K
3) 8% stamp duty (3%+5%), Cash first then CPF = 40K
4) Legal Fees (Cash) = 3k

Total Cash required : 68K. My questions are:

1) For instance, after 15% down payment (75k) deduct from OA, if I only left the balance 20K in OA, meaning the stamp duties to be reimbursed back to me in cash is 20K?
2) How much can I withdraw from the CPF (OA)? If I am not wrong 100% from OA?
3) Let’s assume I get 80% from bank loan, can I make a monthly installment payment to the bank by CPF (OA)? (of course need to top up if the OA contribution is not enough for the installment plan)
4) Commission fees?
5) Lastly, can I get the 1BDR or 2BDR condo with 500k, possible?

Thanks.
Eric
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7 Answers

Hi,

For 2 bedder condo units for 500K, it will be unlikely. For 1 bedder completed condo, 500K units chances are limited. If its a new launch, there are still condo units available for around 550K onwards.

Perhaps we can check out on how much financing the bank can support before we explore possibilities. There are bankers I could recommend to assist. Thanks and hope to discuss further.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More
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Hi Eric, a 1 bedroom unit generally starts from 600k onwards. And you do not have to pay any commission fee.

Regards
Aaron
 97308455 
aaronchong2774@yahoo.com.sg Read More
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Hi Eric
Which area are you looking at. Let me give you some suggestions from here. Will need to have a detailed discussion.
Tricia Tan
www.triciatan.myweb.sg
 91442664  Read More
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Hi Eric, the nearest of 1 bed room unit is around 570K, there is no commission from the buyer.
To assist and advise you in details, please drop me an email for me to share.

I can be contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More
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Good day Mr. Eric Aung,

Thank you for your query.

For PR buying $500K first property, estimated minimum Cash required is $50k and around $87k in CPF/Cash. Monthly Income to qualify for 80% LTV or $400k loan is around $3,000 per month.

Please find the respond to your remaining questions as following:

1. Only Buyer’s Stamp Duty (BSD) may be deducted from CPF directly without paying cash first and later reimbursement if your law firm was instructed properly and able to execute the paperwork timely.
ABSD (5%) cannot use CPF and require cash payment within 14 days of exercising/signing the Option to Purchase.
If you use cash to pay the BSD of $9,600 ($500k property) then only the same amount will be reimburse back from your CPF.

2. You may fully utilise 100% of your OA if this is the first property using CPF

3. You may instruct your law firm to arrange monthy mortgage repayment via full or partial CPF deduction and may change later by login CPF website with your Singpass.

4. For private properties such as condos, buyers need not pay commission fees

5. It is possible to get 1 or 2 bedrooms close to $500k but it will most like NOT be ready by next year.

There is an upcoming mega condo project on Fernvale Road, next to Thanggam LRT (4 stops to Sengkang MRT). It will be built on a huge plot of land the size of approximately 8 soccer fields. Expected to consist of 1376 condos, 10 Semi-Ds, 4 Bungalows and 9 shops with 118 facilities.

It will be an exciting new project with limited 2BRs expected within your affordability of $500k.

As we do not get prompted when you respond here, kindly contact me directly should you require more details or would like to be invited for VIP Preview and have a chance to be the lucky first few to choose your choice home.

Thank you and have a pleasant week ahead.

Warm Regards,
Karrien N. Chan
CEA Reg. No.: R052532H
Mobile: +65 82250212 
Email: karrien.realty@yahoo.com

POWERFUL NEGOTIATORS
PropNex Realty Pte Ltd
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Floor Plans & Listings:
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Dear Sir/Madam,

We are a team of full time real estate salespersons with a combined of 22 years in this industry and hence for us to sustain, we set benchmarks on yourselves to render the best service.

CBRE Singapore was established in 1978, having grown from a merger with CH Williams. Today it is a mature business with more than 450 employees. Singapore also acts as headquarters for CBRE’s strategic South East Asia regional hub.

Our local market knowledge and extensive business offering keep us ahead of the competition. Consequently, we are widely regarded as the undisputed market leader in terms of commercial leasing, investment sales, residential project marketing and commercial asset management in Singapore.

As the leading real estate service provider in Singapore, we offer a comprehensive suite of transaction, management, advisory and corporate services along the following business lines.

We are committed to providing the highest quality offerings to developers, investors and occupiers – throughout Singapore and across the world. We collaborate across markets and service lines to provide the best and most informed real estate solution; think creatively but act practically; and work in a rewarding environment that encourages the delivery of superior results.

At CBRE, our clients always come first. Kindly contact us for a discussion for a kickstart to purchasing your properties in Singapore. We are your solutions provider.

Chris Chua | CEA R030867Z
Senior Sales Director (Resale)
CBRE Realty Associates Pte Ltd I License No.: L3010008E
65 9382 1739 
chris.chua-sp@cbre.com.sg Read More
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Joanne Chia 谢诗琳
I m marketing a new launch spore condo that will top in 2018 .

Cheapest full facilities condo in the market .

$ 400k for a studio .

Kindly contact me for a no obligations chat for your property needs .

Joanne chia
Hp 8333 3327  Read More
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