1 Answer

Jeron Lee
Replied
Hi Calvin,

Assume you have sufficient CPF to form the balance 15% of the downpayment and other misc fees such as stamp/legal etc, it is possible to buy a 3-room HDB flat with $50K cash.

Example:
5% cash deposit of $350K: $17,500
COV: $28,000
1% commission to agent: $3,780
Valuation report: $170.50
Mortgage stamp fee: $500
Total cash outlay: $49,950.50

The appointed agent has to be mindful that the price of the property should not exceed $300K before COV.

Best regards,
Jeron Lee
Jones Lang LaSalle Residential Read More
0
Upvote Upvoted