5 Answers

D. Kumar
Hi there Eileen,

Please feel free to contact me at 96659926 / or drop me an email for a non obligatory discussion for me to better understand your requirements and specifications to be in a better position to advise you further in the most detailed and thorough manner to assist you further- and give you an exact break down of the cash flow and go in depth of the progressive payments of your intended purchase etc. I could also share more key info- on loan issues/ transactions caveats to give you a better understanding. Please be rest assured, I will walk you through the entire process at no cost and obligation of course, since purchase of a private property does not make you liable for any agent commission payment.

Visit my website to view my testimonials & recent awards to gather more information on me: www.kumarrai.com

Look forward to hearing from you!

D Kumar
+65 96659926
ERA Associate Division Director
www.kumarrai.com
www.singapore-newproperties.com.
contactdkumarrai@gmail.com

About Me-

ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group-
2014 Overall Top Achievers
2014 December ERA Top Achievers
2014 3rd Quarter ERA Top Achievers
2014 August ERA Top Achievers
2014 September ERA Top Achievers
Ivan Ng
Hi,

Since you currently own a HDB, if you still have an outstanding housing loan, breakdown as follows:
Cash 25%
CPF 25%
Max bank loan 50%
Stamp duties (BSD+ABSD) and legal fees 13%

CPF usage will also be restricted for 2nd property purchase.

One way you could consider is the decoupling method, which could reduce the ABSD outlay + get a 80% loan for 2nd property purchase. For more details, I will be glad to elaborate over email. Thanks and hope to have the opportunity to work with you.

Warm regards,
Ivan ERA
97432395
Ivanng10@gmail.com
Www.ivanng10.com
CK Ang
Hi Eileen, yes ABSD is payable if you purchase a condo. Best to purchase using your name so only pay 7% ABSD. You could continue to hold your HDB. Please drop me an email for me to share more.

I can be contactable at my mobile or email.

CK Ang
9046 3808
res.ckang@gmail.com
YT Tan (陈永达)
Good morning Eileen,

Great hearing from you!

HDB household with at least one Singaporean is allowed to hold on to their HDB and purchase a private property for investment purposes.

Do take note that because this purchase will be your second residential property in Singapore thus you will be subject to 10% additional buyer's stamp (higher of 7% as SC or 10% as SPR.

Typical costs of a private property purchase if you are able to obtain a 80%:

1) 5% cash downpayment
2) 15% CPF/ cash downpayment
3) estimated 3% buyer's stamp duty
4) ABSD
5) misc fees like legal fees, valuation fee, stamp duty for mortgage etc.

Do bear in mind that if both of you have utilized CPF OA funds in your HDB this individually you have to keep a minimum sum of $77.5k in your CPF OA+SA first before you can use the excess for this purchase.

Hope my explanation helps!

If you need any assistance or advice on your property purchase, feel free to contact me. I will advise with you a financial aid etc.

Hear from you soon!

YT Tan
9111 5171
yt.lovelyhomes@gmail.com
YT Tan (陈永达)
Good afternoon Eileen,

The breakdown of a private property purchase will be as such if you decide to sell off your current HDB and purchase a private property:

1) 5% cash downpayment
2) 15% CPF/ cash downpayment
3) estimated 3% buyer's stamp duty
4) misc fees like legal fees, valuation fee, stamp duty for mortgage etc.

You don't have to bear ABSD as IRAS will regard your private property purchase as your matrimonial home (provided your current is being sold).

Yes the CPF housing grant will be refunded back to your CPF OA after sale. If you do remember that the funds were being released into your OA before you guys proceeded with your HDB purchase so for sale, its the other way.

Lastly for sale, same goes for the CPF OA funds you guys have utilised on your HDB will be refunded back to OA. Sales proceeds will be generated after further deduction of any outstanding loan, CPF OA funds utilised with interest, misc fees, agent's commission etc from your sale price.

If you need any further assistance or advice for your property needs, feel free to contact me. I will asvise you with a financial plan first so from there, you guys will have a better idea to 1) sell HDB and buy private or 2) hold HDB and buy private.

Hope to hear from you soon!

YT Tan
9111 5171
yt.lovelyhomes@gmail.com
www.yttan.com