Good morning Nich,
Let me assist you with your query.
As a SPR household purchaser, your initial outlay will be as such if you are able to obtain a 80% bank loan:
1) 5% cash downpayment
2) 15% CPF OA funds or cash downpayment
3) estimated 3% buyer's stamp duty
4) 5% additional buyer's stamp duty
5) $2k legal fees
6) $200 valuation fee
7) $80 resale application
8) $500 stamp duty for mortgage
9) agent commission (1% of purchase price)
Hope my explanation helps!
Since you will be fulfilling your 3 years SPR status in April, you might want to consider to start househunting just after chinese new year (1 to 2 months before). Once you are find an unit that you like, you can ink on the OTP straightaway on the date of 3 years SPR fulfillment.
I had assisted a couple of SPR buyers last year. To kick start the process, probably let my bankers advise you on your in principle approval first and share with me your preferred location and requirements so I am able to shortlist units for your viewing.
Hope to hear from you soon!
Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727
(M):
+65 9111 5171
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg
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