4 Answers

askguru expert
Hi there, thanks for writing to us on AskGuru.

Here is the timeline when buying a resale condominium unit:

Step 1: Pay the property seller the Option Money which is equivalent to 1% of the agreed sale price in cash.

Step 2: Within the stipulated Option Period (usually within 14 days of the Option), exercise the right by signing the 'acceptance copy' of the Option form, and paying another 4% of the sale price in cash. Within these 2 weeks, you must obtain a letter of offer from the bank in order to exercise the OTP.

Step 3: Upon exercise of OTP, you need to pay Buyer's Stamp Duty (estimated 3% of the purchase price) within 2 weeks from the exercise date. This can be via your CPF.

Step 4: The balance 20% of the downpayment can be paid in CPF or cash and is payable at least 2 weeks from completion date.

Step 5: The balance 75% is via a bank loan.

Hope this answers your question.

Best Regards,

Team PropertyGuru Read More


YT Tan (陈永达)
Good evening s,

are you looking to purchase an unit there?

If you are able to obtain max 75% bank loan, your downpayment will be 25%.

If $1m, $250k downpayment.

Other costs will not limited to:
- 3 to 4% stamp duty
- legal fees
- valuation etc

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

Mobile: 91115171
Email: yt.tan91115171@gmail.com

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Silvia Yang
Hi Sir/Madam

1. Are you looking to purchase an unit at River Isles?
2. Before shortlisting project/unit, I will suggest to check your in principal approval of your loan from banker.
I can connect you with reputable banker for this, free of charge and no obligation.
3. For Singaporean 1st property Based on $1 mill, and assuming loan is 75% these are typical payment breakdown
5% Cash = $50,000
20% Cash/CPF = $200,000
BSD (Cash/CPF) = $24,600
Legal fee = $2,500 (estimated)
Please contact me at (65) 96608508 and I can share the breakdown for this calculation including timeline.
4. How many bedrooms are you looking at and which area you prefer?

I will be glad to assist, no agent fee from private property buyer
Appreciate if you can contact me at (65) 96608508
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


Robbie Chen Chee Howe

Downpayment is need for all purchases. The amount of downpayment will depend on how many outstanding mortgages you currently have.

If this is your first property purchase, minimum downpayment would be 25%, with minimum 5% in Cash. The balance can be from CPF.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

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