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i am currently on single ownership resale wanting to buy another 600k resale unit with my spouse.

what will be the total fees involved and their calculation?
e,g OTP, resale application fee, caveat, conveyancing, bsd, absd, agent commission, etc.
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4 Answers

Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, agent commission will be at 1% with gst and would you like to speak with a mortgage broker too?

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Hi,

I assume you meant getting another HDB resale? You will be required to sell off your existing property within 6 months of the next resale HDB purchase completion. For sale, typical costs include the conveyancing fees of approximately 2k (if bank loan) and agent success fee of 2% of sale transacted price + GST.
For buying, typically buyer stamp duties of approx 3%, conveyancing fees of approx 2.5k (if bank loan), and agent success fee of 1% of transacted price+GST.

I have assisted various homeowners to successfully transit to their next place and plan for their smooth transition. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

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We were fortunate to have met Ivan Ng. He was thorough in going through what the complicated home-selling process required of us and more so in understanding what we would like to achieve from the sale of our unit. His responsiveness and assurance, was a trait that we really appreciate. We managed to secure a sale that exceeded our expectation with Ivan’s advises. The offered price for our unit was a record set for the flats in the neighborhood. This was definitely supported by the fact that Ivan’s listing of our unit was detailed and stood out from other listings. Because of this, we also engaged Ivan's service to help us search and buy our new resale home. After some searches and viewings, we managed to secure one at a reasonable price with his help. With Ivan’s cheery and positive demeanour, selling our unit to procuring a new one, was a smooth journey for us. It was a pleasure to have worked with him.

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Dear Sir/Mdm,

If it is a 2nd property then ABSD of 17% is payable on top of the buyer stamp duty which is about 3%. If you are referring to a HDB the ABSD is not applicable because you will need to sell your current resale unit.

Please feel free to contact me so that I can understand your situation better and send you the spread sheet with the detailed financial calculations.

Regards,
Nick Tan
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Typical funds breakdown as follows:

Upon acceptance of offer 1% ($60,000)
Upon exercising of OTP 4% ($240,000)
Stamp Duty within 10 days exercise OTP $3%- $5,400 ($12,600)
ABSD 17% within 10 days of exercise OTP 17% ($102,000)
Caveat, conveyancing, miscellaneous upon completion ($3,500 thereabout)

The above is assuming that you are purchasing a 2nd residential property (private) without selling your current property.

I have been in the real estate business since 2009, with more than 13 years 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.

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