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I am looking for a HDB resale apartmenr purchase here. Both me and wife are PR. Can you help to advice on the initial cost required to secure a house? Considering the property is valued at $400,000 how much initial cost would i need to secure the house apart from EMI??
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2 Answers

Mike Lim
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Evening,

Based on $400k valuation, the legal fee should be around $500 to $1k, depending on how much loan you applied for. The stamp fee is $6600. If bank grant you a 80% loan, you need to prepare around $80k cash, if you don't have any CPF. With agent's assistant, you also need to factor in the commission payable. Lastly, you need to rememeber the COV component. Overall, you need around $140k in cash.

FYI
Mike Lim
 96929209 
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Catherine PANG
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Recently my client bought a condo while 'holding' on to a HDB flat. She need the 'funds' and hence, has to sell the HDB unit. The S&P process needs careful and confident planning. Call us if you need an opinion.
www.catherinepang.com Read More
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