AskGuru Q&A Community

Hi Mr Red,

Regarding your questions:

1. Am I eligible to take 80% bank loan?
Yes, you are eligible to take 80% bank loan since your HDB has been fully paid off.

2. The 20% must be cash or can I use cpf?
5% must be cash, the rest 15% can be cash or CPF. However, you need to keep 65.5K in your ordinary account before you can use the rest.

3. If I top my wife cpf in cash, can I use this back as part of the 20%?
Yes, you can. but the same 65.5K applied to your wife account also.

4. Do I need to pay agent fee for new or resale condo?
Do not need if you appoint me.

5. Is there any stamp duty for new or resale condo?
Stamp duty applys for either new or resale condo. It is 3% - 5400. Can be paid by cash and reclaim from CPF.

6. What else do I need to take note of??
For payment wise, that about it. I believe there is a lot to find out to choosing a property, for example, bank valuation, bank loan, property tenure. Welcome to contact me if you need further assistance. Thanks.

Robert Peng 9800 1968 
Robertpeng001@gmail.com
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