Good afternoon buyer,
I will assume you are referring to private property purchase as for resale HDB purchase, option fee is $1000 while option deposit is $5000 in total.
Usual practice will be 1% option fee to secure option to purchase and 4% to make up option deposit to exercise the OTP.
But option deposit can varies up to 10% so it's between both you and sellers.
If you are able to obtain a max 80% bank loan, you will need to fork out cash for payment of stamp duties first as usually CPF board wont be able to release the funds quick enough to pay IRAS.
If you have excess CPF OA funds after 15% CPF downpayment, you can apply for reimbursement of stamp duties back in cash.
Hope my explanation helps!
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YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480
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