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Hi all,
I have a 1 bedroom condo, going to TOP soon. I have brought the unit in Nov 2010 at price of $446k. Bank loan is $360k. 20% downpayment comprised of 5% cash & 15% CPF.
If I sell @ $550k, how much would need to return to bank, cpf, legal fee, agent commission, Seller stamp duty & etc ?
Should I sell now or will the price increase further on ?
Thanks.
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4 Answers

Jeron Lee
Replied
Hi Gin,

Assume selling price is $550K, you will need to factor:
1) 2% sales commission or $11K
2) Seller's stamp duty of $11.1K
3) Estimated $69k to go back to CPF
4) Estimated outstanding bank loan to be $360K
5) Estimated early repayment penalty to be $5.4K (1.5% of outstanding loan)
6) Estimated legal clawback of $2K

Net cash to you will be approx. $91.5K.

Note: Actual figures may vary. Stamp duty will be reduced to $7.4K should the sale takes place after Nov 2011 (> 1 year after the purchase).

There is no straight answer to sell or hold but really depends on your investment objectives and what you intend to do with the returns. If $91.5K is going back to bank account and be eaten away by inflation, renting it out could be a better option.

Best regards,
Jeron Lee
Jones Lang LaSalle Residential
Mobile: 90015060 
Email: jeron.lee@jllassoc.com Read More
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Geryl Lim
Replied
Hi Gin,

Jeron has more or less provided you the comprehensive breakdown of the financial calculations, though it may vary very slightly subjected to details of the transaction.

If you don't mind, will you be comfortable to release details of your unit? This would be helpful in providing our analysis. I understand that your concern could be the existing market sentiments and anticipating the oversupply of units in the market in future.

Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg
ECG Property Pte Ltd - A Boutique Real Estate Company Read More
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Terence Low 刘建德
Replied
Hi Gin,

I have a few clients with budget of $600k looking for condos that are going to TOP soon. If you have decided to sell your unit, please drop me an email lowkienteck@gmail.com to discuss further. Thanks.

Terence Low
Huttons Asia Pte Ltd
 96411910 
www.jtproperties-sg.com
lowkienteck@gmail.com Read More
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Terence Low 刘建德
Replied
Hi Gin,

I have a few clients with budget of $600k looking for condos that are going to TOP soon. If you have decided to sell your unit, please drop me an email lowkienteck@gmail.com to discuss further. Thanks.

Terence Low
Huttons Asia Pte Ltd
 96411910 
www.jtproperties-sg.com
lowkienteck@gmail.com Read More
0
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