AskGuru Q&A Community

Hi,

Yes, there is no rules to say that you will need to take a bank loan when purchasing a property. You are free to pay in cash.

If you're looking at a BUC property, most of the launches now will be under Progressive Payment Scheme. This means that you will make the payment progressively, according to the progress of the construction.

There are some projects which still offers Deferred Payment Scheme too. Let me know if you're keen to explore these options.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi Do contact me at 97970200  to discuss more

Mark, your RIGHT choice
Propnex Read More

Hi, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead. By the way, can I know which project are you keen with?

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

Hi Sir/Madam

Yes it is possible and I will be glad to assist, no agent fee from private property buyer
For private property (apartment/condo) that is currently under construction, most of the project will be under Progressive Payment Scheme.
This means that you will make the payment progressively, according to the progress of the construction.

Here is a typical progress payment schedule for a condo under construction
After 20% "deposit", stamp duty etc, payment will be progressive, according to the progress of the construction:
Foundation work 10%
Reinforced concrete framework 10%
Partition walls 5%
Roofing 5%
Door sub-frames / door frames, window frames, electrical wiring (without fittings), internal plastering and plumbing 5%
Car park, roads and drains serving the housing project 5%
Building, roads and drainage and sewerage works in the housing estate, connection of water, electricity and gas supplies
(At this stage the Temporary Occupation Permit is typically released, meaning you can pick up your keys and move in) 25%
Final Payment Date and/or Completion (might be staggered further depending on when the Certificate of Statutory Completion is issued) 15%

As the Final Payment only uopn CSC (typically 1 year after TOP/taking keys) you might be already have sufficient savings to in cash by then.

Other than that there are some projects which offers Deferred Payment Scheme too.
Appreciate if you can contact me at (65) 96608508  or Silviayang8@gmail.com
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More

Yes definitely possible to buy a under construction, new launch condo with cash and no loan .

However you need to have at least 25% cash upon committment or signing the sales and purchase , and pay another sum for stamp duty . In addition , you NEED TO PAY as the construction progresss . NOT pay only upon t.o.p.

Best case scenerio , your cash flow can catch up with the progressive payment timeline , essentially it is roughly about 10% payment every few months , essentially it means pay as the building construction progress .

Worse case scenerio , you pay financial penalties and interest charges if your cash flow cannot keep up with the payment timeline .

There is another different scheme call deferred payment , essentially it is roughly like what you suggest . 25% deposit upon committment , the balance Payment in a year or 2 . These are new t.o.p ready units and available for move in immediately too , however this are bigger quantum condos , at least two million dollars , and please note the hefty forfeiture of downpayment if Legal purchase or full payment is not complete by a year or two , timeline for forfeiture depending on different projects .

Kindly contact me at hp 8333 3327  for a no obligations chat for your property needs.

NO COMMISSION CHARGEABLE WHEN I SERVE PRIVATE PROPERTY BUYERS.

joanne chia
Hp 8333 3327  Read More

Hi

Yes it is possible. 25% of the deposit (5% cash 20% cobination of CPF or cash) needs to be paid upfront along with buyer stamp duty while the rest of payment need to be paid progressively under Progressive Payment Scheme. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More