2 Answers

Hi,

It depends on what is inked in the Tenancy Agreement (whether automatic renewal is written inside). Usually, the clause will be where the landlord has the right to choose whether to renew or not.

When you exercise the OTP, another 4% is payable. For private properties, buyers usually do not pay commission. Thanks and may I assist further?

Warm regards
Ivan ERA
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Hi Mr J T, since you are buying for one stay, you could just inform the tenant that you would not be renewing the lease and that they would have to move upon the expiry of the lease. For purchasing of private property, cash needed will be the 5% of the purchase price, $2500 for the legal fee, 3% stamp duty if you are a local, 15% is by cpf + cash, remaining 80% is the bank loan. Pls feel free to let me know if you require more assistance.

Regards
Aaron
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