Asked by Anonymous
Hi is it possible to buy resale house without forking out cash?
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7 Answers
Dear Sir/Mdm,
For resale house, there is a 5% cash component when you purchase either a HDB unit or a private condo. Therefore it is not possible not to fork out any cash when buying a resale house. However, with careful planning of timeline and cashflow, you may use the sales proceeds from your current place to purchase the resale house, thereby minimising the cash component for the purchase.
Please feel free to contact me so that I can understand your objectives and assist you futher. I am avaialble for discussion on zoom during the circuit breaker period as well.
Regards,
Nick Tan
(M) +65 9644 4854
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg
I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews
I have written a guide on buying Residential Property:
http://bit.ly/buypropertyguide
Testimonial from Satisfied Clients
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)
“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)
“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)
“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)
“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More
For resale house, there is a 5% cash component when you purchase either a HDB unit or a private condo. Therefore it is not possible not to fork out any cash when buying a resale house. However, with careful planning of timeline and cashflow, you may use the sales proceeds from your current place to purchase the resale house, thereby minimising the cash component for the purchase.
Please feel free to contact me so that I can understand your objectives and assist you futher. I am avaialble for discussion on zoom during the circuit breaker period as well.
Regards,
Nick Tan
(M) +65 9644 4854
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg
I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews
I have written a guide on buying Residential Property:
http://bit.ly/buypropertyguide
Testimonial from Satisfied Clients
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)
“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)
“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)
“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)
“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More
Hi,
It is not possible to purchase a property without any cash downpayment. However, depending on the type of properties purchased and the eligibility condition of the Buyer, you can pay as little as $2 in Cash as downpayment.
I am experienced and well-versed in both private and HDB resale transactions. I will be able to assist you in your housing plans. Please get in touch with me for a more in-depth discussion.
Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305 . I will be happy to assess and share with you the possibilities for you in the current market.
Thank you.
Best regards,
Robbie Chen
9748 6305
PropNex Realty Read More
It is not possible to purchase a property without any cash downpayment. However, depending on the type of properties purchased and the eligibility condition of the Buyer, you can pay as little as $2 in Cash as downpayment.
I am experienced and well-versed in both private and HDB resale transactions. I will be able to assist you in your housing plans. Please get in touch with me for a more in-depth discussion.
Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305 . I will be happy to assess and share with you the possibilities for you in the current market.
Thank you.
Best regards,
Robbie Chen
9748 6305
PropNex Realty Read More
Hi Sir
For bank loans, 5% cash downpayment is required for all types of residential properties. If you plan to sell your current property, you can plan the timeline properly and make use of the cash proceeds from sales of your current house to finance the downpayment. However if you are a first timer and thinking of purchasing a HDB, it is possible if you take up HDB loan. Cash deposit is negotiable with seller and the amount ranges from $2 to $5000. Although it might be attractive to place a low deposit to enable you to safe more on the cash component, however the right negotiating strategy has to be used and more often, units where seller can accept low deposit may be a non marketable ones in terms of features and location and they are in a desperate situation to sell it off. Do contact me at 93375051 for a free and non obligatory discussions on this.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
For bank loans, 5% cash downpayment is required for all types of residential properties. If you plan to sell your current property, you can plan the timeline properly and make use of the cash proceeds from sales of your current house to finance the downpayment. However if you are a first timer and thinking of purchasing a HDB, it is possible if you take up HDB loan. Cash deposit is negotiable with seller and the amount ranges from $2 to $5000. Although it might be attractive to place a low deposit to enable you to safe more on the cash component, however the right negotiating strategy has to be used and more often, units where seller can accept low deposit may be a non marketable ones in terms of features and location and they are in a desperate situation to sell it off. Do contact me at 93375051 for a free and non obligatory discussions on this.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
Hi, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead.
Regards
Aaron Chong
9730 8455
aaronchong2774@yahoo.com.sg Read More
Regards
Aaron Chong
9730 8455
aaronchong2774@yahoo.com.sg Read More
Dear Sir/Mdm,
I hate to disappoint you but it is really impossible not to fork out cash to buy a resale house. Let me explain to you why.
If we are using a bank loan to purchase our property, we will need to pay 1% of the purchase price to the seller when they issue the Option to Purchase to us. When we exercise the option at the law firm, we will need to pay 4% of the purchase to the law firm which they will hold on behalf of the sellers. We will also need to pay the stamp duty first but this amount subsequently can be reimbursed by our CPF if we have enough CPF. This applies to both HDB and private properties bought using a bank loan.
If we are buying a HDB and we are using a HDB loan, then the good news is we do not need to fork out so much cash. For HDB loans, the deposit payable for the house is at a maximum of $5000. Of course we can negotiate with the sellers for a much lower deposit amount but that will depends on how popular the house is. Usually if the house is very popular, the sellers might insist on collecting the full $5000. I have successfully helped my buyers to negotiate for $500 deposit before. So it will not be possible to buy any property in Singapore without forking out any cash at all. The issue is how little can we fork out.
I hope I have answered your questions but if you have any other questions, feel free to contact me and I can explain further to you. N0 worries there are no obligations at all. We can just take it as a chat.
Looking forward to hear from you soon! Cheers!
Best Regards,
Jeffrey Heng
Associate Executive Director (Sincerus Division)
OrangeTee and Tie Pte Ltd
NAVIS Living Group - The fastest growing group in OrangeTee that believes in Technology, Training & Teamwork (3Ts)
Mobile : +65 9858 1322
Email : hengjeffrey@gmail.com
Web : www.sgpropertyadvisers.com
Founder of Sincerus Division
SAEA Real Estate Excellence Silver Award - Best Client Service (2014)
SAEA Real Estate Excellence Award Nominee - Best Client Service (2012/2013)
* Featured in CEA Newsletter for Great Client Service - https://goo.gl/NMusPZ *
* Featured in Propertyguru Magazine With My Partner- https://goo.gl/cioyEu *
* Featured in PropertyGuru Magazine for Team Building - http://tiny.cc/80w5lz *
* Words From Clients - https://www.sgpropertyadvisers.com/testimonials *
* Check Out Our Client Testimonial Video Here - https://youtu.be/WzNepsjH1Oc *
* Check Out My Team Mates’ Testimonials Video Here - https://youtu.be/SmdXkgREVOU * Read More
I hate to disappoint you but it is really impossible not to fork out cash to buy a resale house. Let me explain to you why.
If we are using a bank loan to purchase our property, we will need to pay 1% of the purchase price to the seller when they issue the Option to Purchase to us. When we exercise the option at the law firm, we will need to pay 4% of the purchase to the law firm which they will hold on behalf of the sellers. We will also need to pay the stamp duty first but this amount subsequently can be reimbursed by our CPF if we have enough CPF. This applies to both HDB and private properties bought using a bank loan.
If we are buying a HDB and we are using a HDB loan, then the good news is we do not need to fork out so much cash. For HDB loans, the deposit payable for the house is at a maximum of $5000. Of course we can negotiate with the sellers for a much lower deposit amount but that will depends on how popular the house is. Usually if the house is very popular, the sellers might insist on collecting the full $5000. I have successfully helped my buyers to negotiate for $500 deposit before. So it will not be possible to buy any property in Singapore without forking out any cash at all. The issue is how little can we fork out.
I hope I have answered your questions but if you have any other questions, feel free to contact me and I can explain further to you. N0 worries there are no obligations at all. We can just take it as a chat.
Looking forward to hear from you soon! Cheers!
Best Regards,
Jeffrey Heng
Associate Executive Director (Sincerus Division)
OrangeTee and Tie Pte Ltd
NAVIS Living Group - The fastest growing group in OrangeTee that believes in Technology, Training & Teamwork (3Ts)
Mobile : +65 9858 1322
Email : hengjeffrey@gmail.com
Web : www.sgpropertyadvisers.com
Founder of Sincerus Division
SAEA Real Estate Excellence Silver Award - Best Client Service (2014)
SAEA Real Estate Excellence Award Nominee - Best Client Service (2012/2013)
* Featured in CEA Newsletter for Great Client Service - https://goo.gl/NMusPZ *
* Featured in Propertyguru Magazine With My Partner- https://goo.gl/cioyEu *
* Featured in PropertyGuru Magazine for Team Building - http://tiny.cc/80w5lz *
* Words From Clients - https://www.sgpropertyadvisers.com/testimonials *
* Check Out Our Client Testimonial Video Here - https://youtu.be/WzNepsjH1Oc *
* Check Out My Team Mates’ Testimonials Video Here - https://youtu.be/SmdXkgREVOU * Read More
Greetings from Ohmyhome!
Beside total deposit of not more than $5000, you can use CPF OA funds to purchase a HDB resale flat without further cash if it's sufficient.
Should you need further information or assistance, feel free to contact us at 68869009 or WhatsApp us at 97551009 .
We will be most glad to assist.
Richmond Chia
Senior Advisor
Ohmyhome Pte Ltd Read More
Beside total deposit of not more than $5000, you can use CPF OA funds to purchase a HDB resale flat without further cash if it's sufficient.
Should you need further information or assistance, feel free to contact us at 68869009 or WhatsApp us at 97551009 .
We will be most glad to assist.
Richmond Chia
Senior Advisor
Ohmyhome Pte Ltd Read More