AskGuru Q&A Community

Good morning A T,

Let me help you with this.

It's not mandatory to take up a loan from either HDB or bank if you have sufficient cash or CPF OA funds to make a full payment.

If you will like to do full payment, you will have to make a 10% payment on first appointment and balance before second appointment. These payments will to be made to HDB then HDB will issue the sales proceeds in a form of cheque to the seller.

Outlay for resale HDB purchase:
1) $200 valuation fee
2) $80 resale application fee
3) $5k option deposit
4) 1% of purchase price plus 7% GST as agent's service fee
5) pro rated property tax on second appointment
6) HDB legal fees

If you are taking HDB loan,

10% downpayment either in CPF OA funds or cash.

If you are taking bank loan,

5% cash downpayment and balance 15% in cash or CPF OA funds.

Perhaps we can meet over a cup of coffee to discuss over your purchase so I will be in a better position to advise you further.

Hope to hear from you soon!

I dont just buy, sell or rent. I care for my clients as though they are my family. =)

- Your Leasehold Ally, Freehold Tactician -

1) Like my FB page: www.facebook.com/yt.tan91115171

2) Just to share!

Only a one time sign up, you will be able to receive a free SMS update on the value of your home and neighborhood from me on a monthly basis.

Click this now: http://goo.gl/Gg5pe3!

Join me on board towards a hassle free update on valuation now!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com

Powerful Negotiators
No1 team in Propnex Read More

Hi,

If you are using full cash and don't wish to take a loan, the lump sum has to be paid during the 2nd appointment. Its not mandatory to take a loan. If you wish to fund via installments, it be better to take up a loan but you will incur interest payments over the loan tenure. For a typical 300k property purchase, breakdown as follows:

10% cpf downpayment
90% hdb loan

Or

5% cash
15% cpf
80% max bank loan.

For both options,
3% stamp duties and legal fees apply
1%+GST agent commission
Hdb option deposit 5k
Hdb admin fees 300

Will apply.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews/
(Client's Testimonials) Read More

Dear Ms A T,

Re: Today’s SG Professional Choice- SGAgent.com & SGRealtor.com

Regardless you willing to pay in full cash, it still advisable to apply for HLE and bank loan before you exercise the option with $4K. Whereby, you can opt to use housing loan or pay fully by cashier order to HDB.

legal fee est $2500
Buyer stamp duties: 3%
Agent fee: 1% of the property value plus 7% GST.

I am contactable at 92222389  or onassis@sgagent.com / sgrealtor.com
In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

Onassis Gan | R021244C | Today’s SG Professional l SGAgent.com & SGRealtor.com

EXPERIENCED. PROACTIVE. SINCERITY. FEEDBACK
ACTA (Full); PDCE (Singapore); MSc BIT(Middlesex); BBA (South Australia)

Featured Realtor Services recognition by SGReview.com and SGBride.com

Singapore Line : (+65) 92222389 
Malaysia Line: (+60) 111-0788889
Email: onassis@sgagent.com / sgrealtor.com
Skype: incomecare

" Engage 1 & Get More than 800 Agents from the #1 TEAM in ERA to Serve You!” Read More

Hi Ms,

Take note, as a single Singaporean, you need to be above age 35 to be able to purchase a HDB resale flat from the open market. If you're below age 35, you can only go for private housing.

If you do not wish to take a loan, you will need to pay the whole purchase price before the end of the completion of sales.

It is not mandatory to take a loan when purchasing a property, you can pay in full CASH/CPF.

For a $300,000 purchase using full CASH, the breakdown is as follows:

Property price $300,000
1) max $5000 to be paid to Seller upon exercise of OTP
2) balance $295,000 to be paid towards end of HDB completion
3) Buyer Stamp Duty $4,200
4) Valuation Report est $200
5) HDB Submission $80
6) HDB conveyancing est below $500
7) Agent Fees est 1% of purchase price

Please contact me at my mobile 9748 6305  . I am looking forward to provide you with my best possible advice that suits your needs.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Afternoon,

If you have the require cash for the purchase of resale HDB unit, you do not need to take any loan from bank not HDB. You will have to prepare the lump sum in form or cashier order, payable to HDB.
Other cash component require will be the valuation fee, HDB resale admin fee, option and exercise fee, insurance, tax refund and commission payable. Assuming the purchase price is $300k, you will need to prepare around $9k for the above mentioned.

Do feel free to contact me for further discussion.

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

Hi
Let me assist you through the entire process. Do reach me via 91442664  for a detailed discussion on payment, timeframe and procedures.
Looking forward to hear from you.
Tricia Tan 91442664  Read More

Hi,

1. For cash purchase, pay up to 5K upon exercise OTP. The lump sum to pay to HDB during the 2nd appointment. The purchase process is remain the same but can skip the valuation if not taking bank loan or use CPF.

2. Its not mandatory to take a loan.
3.
- max $5000 to be paid to Seller upon exercise of OTP
- pay the balance of $295,000 to HDB at 2nd appointment
- pay stamp Duty $3,600
- hdb resale application $80
- HDB conveyancing and property tax, estimated below $500
- agent Fees 1% of purchase price

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More

Hi Ms,

Just to add on to my previous reply, and I noticed wrong computation of stamp duties from some of my colleagues, please take note that the Buyer Stamp Duty payable is S$4,200.

IRAS states that:
For 1st $180,000, 1% stampy duty
Next $180,000, 2% stamp duty
Rest is 3% stamp duty.

Hence, stamp duty computation for a $300,000 property is:
$1800 + $2400 = $4200.

Please contact me at my mobile 9748 6305  . I am looking forward to provide you with my best possible advice that suits your needs.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More