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Hi gurus, I am currently looking for a flat in bt batok area and would like to find out more. For example a house cost 462k and is valued at 429k. Being a first timer living near my mom, I shd be entitled to a 40k CPF grant? also, how much min Cash as well as min CPF do I have to have at hand before I am able to complete my transaction.

Thank you
Richarhd
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2 Answers

Jasmine Lim 林慧晶
Hi Lester,

If both your spouse and you are 1st timer (PRs or Citizen), you will be entitled to 40k grant (near parents in same estate).

If you are using HDB HLE loan, you will need to standby at least 10% of valuation in CPF (subject to your HLE) for downpayment + Stamp + lawyer fees. You can use the 40k grant as downpayment.

Cash will at least be the COV,
agent's fee and other HDB misc fees.

You will be safe to standby the Cash + CPF before HDB 1st appointment.

Do drop me a sms / call if you need further assistance.

Cheers,
Adrian Tay HSR
 81383865 
adrian@sgproperty.asia Read More
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Additional Costs

Remember to factor in additional costs associated with buying a resale flat, such as:

Buyer's Stamp Duty (BSD)

Agent's commission (if you use one)

Legal fees

Valuation fees

By planning for these expenses, you'll have a better idea of the total upfront costs involved in purchasing your flat.
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