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Good afternoon,

You will still need to come out with cash for expenses like:

- $5k option deposit
- $120 valuation fee if you are using cpf and/ or loan
- $80 resale application
- legal fees
- agent's commission (min 1% of purchase price plus GST)
- balance downpayment (up to 20% if you obtain 80% HLE)

Have you apply for HLE yet? We can work numbers out inclusive of any housing grants eligible before proceeding further.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

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There will still be minimal cash required for legal fees, valuation fees, resale application fees as well as option money and not forgetting agent commission.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com

My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

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Hi,

1) Buying property always needs hard cold cash, even buying a BTO, it's only a matter of how much.
2) To buy a resale flat you will need cash for the below:
(a) Option and exercise fees = $2~$5,000.
(b) Valuation report = $120
(c) Resale application = $80
(d) Fire insurance = $6
(e) Caveat fee = $160.90
(f) Registration fee for land registry = $76.60
(g) Miscellaneous = $15
So the minimum cash you will need = $460.50 ~ $5,458.50.

3) You will need further cash if your funds in your CPF are insufficient for the deduction:
(a) Buyer stamp duty ~3% = $8,100 for a $450k purchase
(b) Mortgage stamp duty = $500
(c) Legal fee = $1,040 for a $450k purchase

The above adds up to $9,640

4) Since you are Singapore Citizen, you are entitled to the below grants for your purchase:
(a) Family grant = $80k
(b) EHG grant = up to $80k depends on your household income (e.g. below $6k = $35k)
(c) PHG = $20k proximity grant if stay within 4km of either parent. This might not be applicable to your case.

5) You may utilize your CPF for (3), and these grants can act as a down payment. So you won't need so much loan for your purchase.
6) But you still need to prepare the cash needed listing in (2).

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answer your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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