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We are a new PR in Singapore (just got our PR this year in Jan) and we are planning to buy a 5room flat in Tampines. Kindly let me know the below queries.

* Whether the 20% upfront payment is inclusive of the final transaction cost or this is 20% will not include the COV
* what are the other costs involved, i can see that there is a BSD, 5% ABSD, agent fees, pls let me know me know what are the other costs
* What are the different ways for me to get the financing for upto 25 % (20% upfront, 5% ABSD). I want the financing options only (not the answer as my own cash and CPF which i am aware already).
* can you give me an example based on the total cost of a 5 room flat, whose valuation is 500000, COV is 50000 so what should be my 20% upfront amount and what are the other costs (for this buying this 550000 house)
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3 Answers

Hi Chris

1) 5% will be cash.
2) The other 15% will be cash + cpf.
3) The remaining 80% will be bank loan.
4) Additional Stamp Duty of 8% will be cash.
5) Agent commission payable will be 1% of purchase price.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Afternoon Chris,

Please find attached response in respect to your question.

1) 20% downpayment is exclusive of COV
2) Other than standard stamp duty, legal fee, ABSD, COV, valuation report, property tax payment and salesperson commission, there should be no extra payments required.
3) For the downpayment and ABSD, you can opt to get personal loan from friends, relatives or even from the financial institute.
4) Based on valuation of $500k with $50k COV, assuming that you managed to get 80% loan and that you do not have anything in your CPF account, attached are as follows:
a) ABSD: $27.5k
b) Downpayment: $100k
c) Legal and Stamp Fee: $14k
d) COV: $50k
e) Mics: $1k
f) Agent fee: to be discussed
Therefore total cash required is around $192.5k, excluding agent's comm

Do feel free to contact me if you require further assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Hi,

Thanks i appreciate your question . Regard to your question. Why not you just drop me an email at ot1984pierre@gmail.com or Contact me @ +65 8 2 7 9 8 3 2 7 - Whatsapp / Call / SMS

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