Hi,
Do note that you have to physically occupy the hdb flat for 5 years first before you can fully sublet the whole unit out for rent. For condo theres no such requirement.
If you are able to and taking 90% hdb loan, typical breakdown as follows:
Downpayment 10% cpf less option fee
Max hdb loan 90%
Stamp duties and legal approx 3%
(Cash components)
Option fee up to 5k
Agent commission 1%+7% GST
Hdb admin fees up to 500
Cash over valuation (if any)
If you are taking max bank loan 80%, theres slight difference. It will be 5% cash (minimum) and 15% cpf instead. Hence you can't use cpf fully for the purchase price.
I am quite active in the east and will be happy to share more on the best approach. 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
Contact:
(+65) 97432395
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews
(Client's Testimonials)
**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **
-- HDB BTO 4rm Sellers Mr. Farvin & Ms. Sel --
Ivan was the first agent that we met up with and right from the offset we had good vibes as he has a friendly personal approach, detailed working style and focuses on building the long-term relationship.
Our unit comes with its challenges but Ivan remained positive and had no qualms committing to our plans right from the start. It took only 6 weeks of aggressive marketing for him to secure a good offer which was a pleasant surprise in the end.
Ivan was always responsive and we had no worries to pass him the house keys. The whole process was transparent and hassle free, and he was always thinking from our point of view on how to make life easier for the client. He is a committed professional and has fast execution, so we felt assured that things are done well and we can entrust the sale process entirely to him.
--- HDB Flat Upgraders Mr. & Mrs. Lee ---
We decided to engage Ivan as our agent as we were impressed with how he answered the enquiries on property guru website.
He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked.
When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.
Thanks Ivan! :)
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