Asked by Anonymous
How much cash do we need to buy a resale flat?
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4 Answers
Good morning,
cash component will be higher if you use bank loan.
If you decide to use hdb loan, 10% downpayment can be fully paid by cpf.
.
Other costs:
- option deposit $5,000 cash
- stamp duty can be in cash/ cpf
- valuation fee: $120 cash
- resale application fee: $80 cash
- legal fees: min $1100 cash/ cpf
- agent's service fee: 1% of purchase price plus gst (cash)
Perhaps you can share more figures with me so I can be in a better position to advise you further.
Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?
Best regards,
YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner
Contact:
Mobile: 91115171
Email: yt.tan91115171@gmail.com
Do follow me on:
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YouTube: https://bit.ly/Youtube_PropertyKaki
To find out what’s the estimated valuation of your existing house, try our SRX property tracker.
You will receive free sms update on a monthly basis.SRX property tracker: http://bit.ly/yt_proptrack Read More
cash component will be higher if you use bank loan.
If you decide to use hdb loan, 10% downpayment can be fully paid by cpf.
.
Other costs:
- option deposit $5,000 cash
- stamp duty can be in cash/ cpf
- valuation fee: $120 cash
- resale application fee: $80 cash
- legal fees: min $1100 cash/ cpf
- agent's service fee: 1% of purchase price plus gst (cash)
Perhaps you can share more figures with me so I can be in a better position to advise you further.
Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?
Best regards,
YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner
Contact:
Mobile: 91115171
Email: yt.tan91115171@gmail.com
Do follow me on:
IG: instagram.com/propertykaki
FB: https://www.fb.com/propertykaki/
YouTube: https://bit.ly/Youtube_PropertyKaki
To find out what’s the estimated valuation of your existing house, try our SRX property tracker.
You will receive free sms update on a monthly basis.SRX property tracker: http://bit.ly/yt_proptrack Read More
Hi,
1) This depends on you are taking an HDB loan or a bank loan.
2)
(a) HDB loan: Max 90% LTV, 10% down-payment.
You may use CPF and/or grants to pay for the down payment. All except $20K is allowed to reserve in your CPF OA, this is to minimize the loan needed.
(b) Bank loan: Max 75% LTV, 25% down-payment.
5% must be in cash (option and exercise fees is inclusive in this cash portion), 20% can be CPF and/or cash.
You can take the maximum loan and leave the balance in your CPF OA to accumulate interest.
3) Other costs:
(a) Buyer stamp duty (can be CPF): ~3% of the purchase.
(b) Legal fees (Can be CPF): depends on the lawyer engaged; HDB lawyer is slightly cheaper. The estimated amount can be found on the HDB web.
Private legal (must be used if taking bank loan): ~$1,500~$2,000.
(c) Valuation (cash): $120
(d) Resale application (cash): $80
(e) Fire insurance (cash): ~$10 (depends on flat type and size)
(f) Caveat and miscellaneous (cash): $300
4) If you have sufficient funds in your CPF OA, your cash portion will be minimum.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636 , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
Note:
Any response to our answer does not reach us.
The best way to get a follow-up is to Whatsapp or email us directly. Read More
1) This depends on you are taking an HDB loan or a bank loan.
2)
(a) HDB loan: Max 90% LTV, 10% down-payment.
You may use CPF and/or grants to pay for the down payment. All except $20K is allowed to reserve in your CPF OA, this is to minimize the loan needed.
(b) Bank loan: Max 75% LTV, 25% down-payment.
5% must be in cash (option and exercise fees is inclusive in this cash portion), 20% can be CPF and/or cash.
You can take the maximum loan and leave the balance in your CPF OA to accumulate interest.
3) Other costs:
(a) Buyer stamp duty (can be CPF): ~3% of the purchase.
(b) Legal fees (Can be CPF): depends on the lawyer engaged; HDB lawyer is slightly cheaper. The estimated amount can be found on the HDB web.
Private legal (must be used if taking bank loan): ~$1,500~$2,000.
(c) Valuation (cash): $120
(d) Resale application (cash): $80
(e) Fire insurance (cash): ~$10 (depends on flat type and size)
(f) Caveat and miscellaneous (cash): $300
4) If you have sufficient funds in your CPF OA, your cash portion will be minimum.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636 , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
Note:
Any response to our answer does not reach us.
The best way to get a follow-up is to Whatsapp or email us directly. Read More
Hi
If you are referring to HDB loan, the cash component involved is
Deposit: $2 to $5,000 (negotiable between sellers and buyer)
COV ($0 to no fixed amount)
Resale application fee: $80
Valuation Fee: $120
Legal Fee Cash Component: $166
For bank loan, there is an additional 5% compulsory cash on the value of the house (excluding COV) that needs to be placed as deposit. I am specailised in HDB transactions and the vast majority of my buyers managed to get a house with no COV despite the seller's market situation we are facing now. Do contact me fat 93375051 for a free and non obligatory discussion on this and I am more han happy to assists.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
If you are referring to HDB loan, the cash component involved is
Deposit: $2 to $5,000 (negotiable between sellers and buyer)
COV ($0 to no fixed amount)
Resale application fee: $80
Valuation Fee: $120
Legal Fee Cash Component: $166
For bank loan, there is an additional 5% compulsory cash on the value of the house (excluding COV) that needs to be placed as deposit. I am specailised in HDB transactions and the vast majority of my buyers managed to get a house with no COV despite the seller's market situation we are facing now. Do contact me fat 93375051 for a free and non obligatory discussion on this and I am more han happy to assists.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
Hi,
The amount of cash needed is dependent on a few factors:
- the purchase price
- the Valuation (to determine COV)
- your max loan, based on your income
- type of loan you're getting
- the amount of CPF you have for downpayment
The deposit for OTP of a HDB resale flat can be as low as $2, up to max of $5,000.
I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property 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
The amount of cash needed is dependent on a few factors:
- the purchase price
- the Valuation (to determine COV)
- your max loan, based on your income
- type of loan you're getting
- the amount of CPF you have for downpayment
The deposit for OTP of a HDB resale flat can be as low as $2, up to max of $5,000.
I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property 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