AskGuru Q&A Community

Hello!

Good day to you!
I’m Daniel Tan from Huttons.

The rough estimated downpayment required for the purchase of S$400K unit for SPR is as follows.

1. 20% downpayment (Bank loan for SPR) - S$80K
2. BSD (3% of purchase price minus S$5,400) - S$6,600
3. ABSD (5% of purchase price for SPR 1st property) - S$20K
4. Legal Fees - S$2,000 to S$3,000
5. Other related fees (Agent fees, valuation, insurance, etc)

With all the fees added, you will be looking at an initial payment of slightly over S$110K. Most of the amount is payable by CPF.

Hop that you can share with me more of your details so i can give you a more exact calculation.
Hear from you soon.

Any other queries?
Please always feel free to contact me for a non-obligated discussion on how I can assist you with your real estate needs.

Have a great day ahead.

Best Regards

Daniel Tan
Huttons Asia Pte Ltd
 (+65) 94775100 
daniel.tck@outlook.com Read More

Good morning SPR buyer,

Are you eligible under any HDB schemes to purchase a resale HDB?

You can purchase a resale HDB with a SC or SPR but if both of you are SPR household, both needs to fulfill SPR status of 3 years respectively before you can purchase.

Estimated initial outlay will be 24% to 30% of purchase price. It will consist of 20% downpayment (5% cash and 15% CPF OA or cash if shortfall), 3% buyer's stamp duty, 5% additional buyer's stamp duty (applicable as SPR household), legal fees, valuation fee, resale submission fee, agent's commission etc.

If you need any assistance in your property purchase, feel free to contact me.

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

Morning,

For purchase of HDB under bank loan, your downpayment would be 20%, provided you managed to obtain 80% loan. 5% of the downpayment must be made with cash while the balance 15% can be using CPF. DO also note that you will also be liable for stamp duty and ABSD.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More