Legal Fees: You'll need to engage a conveyancing lawyer to handle the legal aspects of the transaction.
Legal fees vary depending on the complexity of the sale and the lawyer's experience but typically range from S$2,500 to S$4,500 or more.
Mortgage Discharge Fee: If you have an outstanding mortgage on the property, you'll need to pay a discharge fee to your bank, usually a fixed amount (e.g., S$500) or a percentage of the outstanding loan.
Valuation Fee: If the buyer is taking a loan, they might require a valuation report of the property. The seller typically pays this fee, which can range from a few hundred to a thousand dollars.
Property Tax: Ensure your property tax is paid up to date, as you might need to reimburse the buyer for any tax paid in advance.
Miscellaneous Costs: This could include advertising costs, repair or touch-up costs to make your property more appealing to buyers, and any penalties for early termination of existing contracts (e.g., maintenance, internet).
Moving Costs: Don't forget to factor in the cost of packing, transporting, and storing your belongings if you're moving out.
It's crucial to account for all these costs when calculating your net proceeds from the sale. You can consult with your real estate agent or lawyer for a more accurate estimate of the fees specific to your situation.
Here's a summary table for quick reference:
Fee/Cost Approximate Range
Seller's Stamp Duty (SSD) Varies depending on holding period
Legal Fees S$2,500 - S$4,500+
Mortgage Discharge Fee S$300 - S$500 or percentage of loan
Valuation Fee S$500 - S$1,000
Property Tax Varies based on property value
Miscellaneous Costs Varies
Moving Costs Varies
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
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"If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
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(***) You can check out my reviews here:
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For buyers, I offer solutions for sourcing resale and new private homes at no charge.
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I also have partners to assist with mortgage home insurance matters.
Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!
*** You can reach me at my Singapore mobile: (65) 98 56 92 55 or email me at Able.selling@gmail.com.
From: ABLE Toh- Your Property ASSISTANT : ）
“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”
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