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I am a SPR looking at purchasing a condo, can any helpful
agent able to help

- What is the latest payment scheme for SPR condo purchase?
- How much % down payment I would need to pay in Cash/ Cpf?

Thanks
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2 Answers

Hi,

Typical breakdown for 1st property purchase of SPR as follows:
Cash 5%
CPF 15%
Max Bank Loan 80%
Stamp duties and legal (BSD+ABSD) Approx 8%

Hence, about 28% of purchase price is payable within 8 weeks of booking of unit.

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
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  • KS
    Thanks for your reply, I will contact you next week.

    Cheers
Hi,

Thanks for your query!
For private property, the loan can only be obtained up to 80%. Cash portion will be 20%.

Initial cash outlay:
20% Cash:
15% CPF, 5% Cash
3% BSD + 5% ABSD for PR
Legal fees and misc

The first step to move ahead is always getting the finances settled. I can link you up with my bankers who will assist you with the approved loan , at no cost. If you have your own preferred banker, that's fine too. Following that, I will conduct the financial cash computations and progressive payments with timeline to illustrate the options you could consider.

Perhaps you can share more on your objectives but most importantly the requirements ; any particular type/ location/ budget to conduct a comprehensive search and shortlist of appropriate units.

Furthermore, there is NO agent fees involved! So you can take this opportunity to discuss more on your preferences & for me to give an entire overview and share more insights to the market, chart out the market price analysis and recent sales transaction caveats, work out comprehensive financial cash projections and provide you with up to date information to the procedural steps and its associated wings- financial (loan) , legal matters etc.

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com ( Recent Awards and Testimonials)

#1 team of ERA in Singapore, Asia Pacific International for 2014.

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