Hi Edison,
There's no restrictions in getting a Condo.
You're required to pay 1% of the total purchase price to obtain an OTP.
You'll then have 2 weeks to consider the purchase; In between, you're advised to settle all necessary loan and CPF issues.
If you wish to exercise the purchase, you're required to fork out the additional 4%.
If you decided to back out, you'll simply lose the 1% deposit.
Once the total of 5% is being paid, the seller's solicitor will then prepare the Sales/Purchase agreement. The remainding 95% will be paid accordingly
15%- CPF/Cash
80%- Bank Loan
Additionally, you're also required to pay for the Stamp Duty.
Stamp duty = 3% of purchase price - $5400
Hope the above helps.
Should you have any enquiries on any other matters. Please feel free to drop me an email at clintonlimzj@hotmail.com. I hope to assist you in your search for one.
I can also be reached at
94523347
.
Hope to hear from you soon Edison,
Have a nice day.
Read More
