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Hi, if a SC wanted to buy a 1.1mil condo for 2nd property, not utilizing CPF.With no other outstanding Bank loan, so what is the estimated amount of cash needed for the down payment + the necessary Stamp Duty or ABSD or other fee?
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2 Answers

Lyna Song
Replied
Hi Ms Foo;

For 2nd property without outstanding home loan,you are eligible for max 80% home loan(subjected to approval by banks).The downpayment portion would be:1

5% cash upon booking
15% cash within 8 weeks(as you are not using cpf)
3% Stamp duty + 7% ABSD(assuming you are Singaporean)

so total u need for a $1.1 Mil house would be $324,600

the other fee that you need to pay is legal fee(approx $3k +/-) and valuation fee..Please feel free to contact me for further discussion.I have a few new launches near to MRT that are within your budget.Thanks

Rgds;
Lyna ERA
 96238442 
lynasong@hotmail.com Read More
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Aaron Chong
Replied
Hi Ms Foo

The main bulk of payment in your case will be the 10% buyer stamp duty. Another 2.6k to 2.8k will be the legal fee.

Pls feel free to let me know if you need any assistance. Cheers!

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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