Good afternoon buyer,
Usually buyers who dont have sufficient finances to finance the initial outlay might turn to take up personal loan. This might not be the best option as the interest rate is usually slightly higher but it is one of the alternatives you can consider.
If not, you might want to seek short term financing from your family members, relatives or friends to cover the initial outlay.
Do take note that as a SPR purchaser, you will be subject to 5% additional buyer's stamp duty thus your initial outlay will be as such:
1) 5% cash and 15% CPF or cash downpayment
2) estimated 3% buyer's stamp duty
3) 5% ABSD
4) $2.5k legal fees
5) valuation fee
Hope my explanation helps!
If you need further assistance or advice in your property purchase, feel free to contact me. Cheers!
Have a great and enjoyable holidays ahead!
Warmest Regards,
YT Tan
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727
(M):
+65 9111 5171
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
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