7 Answers

askguru expert
Hi there, thanks for writing to us on AskGuru.

For a commercial property that is under construction, you will first need to make a payment of 20% of the purchase price upon the exercise of the option.

Here are the progressive payment schedule:

Make a 10% payment when the foundation work has been completed.

Make a 10% payment when the reinforced concrete framework has been completed.

Make a 5% payment when the brick walls have been completed.

Make a 5% payment when the ceiling has been completed.

Make a 5% payment when the door and window frames are in position, and that the electrical wiring (without fittings), internal plastering and plumbing have been completed.

Make a 5% payment when the door and window frames are in position, and that the electrical wiring (without fittings), internal plastering and plumbing have been completed.

Make a 5% payment when the car park, roads and drains serving the project have been completed.

Make a 5% payment when the electrical plant, sanitary and air con plant of the project have been completed.

Make a 25% payment when the notice for Vacant Possession and production of the Temporary Occupation Permit

Make a 10% payment upon completion.

Do note, you will not be able to use your CPF when purchasing a commercial property.

Hope this answers your question.

Best Regards,

Team PropertyGuru
Geryl Lim
Dear sir/madam,

Are you purchasing it as an investment? If you are purchasing it under personal name, there is not much difference except that you may wish to check with a banker on your loan matters as well as the cash requirement since no CPF is involved in the purchase of a commercial property.

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888 [mob] +65 81577565 [LDA] +65 92787772
www.geryllim.com
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Robbie Chen Chee Howe
Hi,

May I know if you're looking to buy for investment or for own use? If you're looking in terms of investment, then I would like to share with you some of the pitfalls that Buyers will encounter when dealing with commercial properties.

I am experienced in both residential and non-residential transactions. 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
Nick Tan
Dear Sir/Mdm,

For commercial property, most buyers will buy it under a company. May I understand your requirements and objectives further before I can better assist u?

Please feel free to contact me for a discussion. I am also available on Zoom during the circuit breaker period.

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)
Taufik Hussein
Hi Sir
For commercial property, having a residential property does not matter much in terms of regulations. Do contact me at 93375051 for a free and non obligatory discussions on this.

Regards
Taufik Hussein
ERA Relaty Network Pte Ltd
Mark Ng S W
Hi do contact me at 97970200 to discuss more on how you can purchase commercial property

Mark, your RIGHT choice
Propnex
Silvia Yang
Hi Sir/Madam

I will be glad to assist

I won't be able to contact you first as I do not have your contact, appreciate if you can contact me at (65) 96608508 or Silviayang8@gmail.com
or click here http://bit.ly/2tzIQ1a to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

PropNex Realty Pte Ltd
Mobile: (65) 9660 8508
Email: Silviayang8@gmail.com