AskGuru Q&A Community

Hi,

Yes it still looks possible. Typical breakdown for SPR 1st residential property of $1.25mil as follows:

(A) Cash 5% 62.5k
(B) CPF OA/Cash 20% 250k
(C) Stamp duties and legal fees approx 8% 99.6k

(D) Max loan 75% 937.5k

The cash and CPF on hand is able to cover (A) to (C).

As for (D), based on your income, age profile and assume no other major obligations and fulfilling TDSR requirements, your loan amount is approximately $1.6mil hence more than required.

Based on $937.5k loan, 21 years loan tenure, 1.4% pa. , The monthly works out to approx $4,300.

I am basing on a few assumptions, that you have no other residential property at the moment, and no major monthly obligations such as car loan installments etc, and credit score all ok.

May I know which condo development are your considering? Happy to share my inputs on the pros & cons of each move.
May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

ERA Top 11 Achiever in June 2020 (Top 1% Company Level)
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SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.

Contact: (+65) 97432395 
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-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --

I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.

-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --

I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan. Read More

Hi, I would be most glad to assist you further and pls feel free to let me know if you need any banker’s contact or any other assistance. Hope to hear from you soon and have a great week ahead. By the way, yes it still looks possible and pls do take note of the ABSD too.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Dear Sir/Mdm,

Based on your age and income, you will be able to secure the max 75% loan for the 1.25 mil property.

The breakdown of the purchase is as such:

1. 5% Cash - $62,500
2. 20% CPF - $250,000
3. Buyer Stamp Duty + Additional Buyer Stamp Duty - $97,100
4. Legal Fees - $2500

Total CPF required: $349,600

On paper, you got no issues securing a 1.25 mil condo. However, you need to take note that if you are buying a resale property, the Stamp Duty will need to be paid in cash first before you reimburse the amount from your CPF account.

Please feel free to contact me so that I can give you an outlook of the property market and an overview of the purchase process.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

I have written a guide on buying Residential Property:
http://bit.ly/buypropertyguide

Testimonial from Satisfied Clients
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Hi Sir

1. Before shortlisting project/unit, I will suggest to check your in principal approval of your loan from banker. I can connect you with reputable banker for this, free of charge and no obligation.
2. For PR 1st Property, Based on $1.25 mill, and assuming loan is 75%
5% Cash = $62,500
20% Cash/CPF = $250,000
BSD (Cash/CPF) = $34,600
ABSD (Cash/CPF) = $62,500
Legal fee = $2,500 (estimated)
Please contact me at (65) 96608508  and I can share with you breakdown for this calculation including timeline.
3. How many bedrooms are you looking at and which area you prefer?

I will be glad to assist you finding the right house, no agent fee from private property buyer
Appreciate if you can contact me at (65) 96608508  or Silviayang8@gmail.com
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More

HI

You may text 9620 0827  for a casual chat. We can share with you the transaction process and timeline. At the same time we can do an estimated financial statement for your reference,.

Warmest reagrds

Gavin Read More

Hi Yes, it is possible.

5% Cash = $62,500
20% Cash/CPF = $250,000
BSD (Cash/CPF) = $34,600
ABSD (Cash/CPF) = $62,500
Legal fee = $2,000
Monthly loan est $4383
Your CPF is enough to cover the 20%,BSD&ABSD. Your monthly loan repayment is manageable with the given details.

Do contact me at 97970200  to discuss more

Mark, your RIGHT choice
Propnex Read More

Hi Sir,

Yes, with the above figures, it is possible for you to purchase a private property in the range of around $1.25m.

A $1.2m property purchase requires a 5% ($60k) Cash downpayment, while the rest of the downpayment and stamp duties can be covered from CPF.

May I know which country are both of you from? Because you may or may not incur ABSD, depending on your nationality.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  .

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi there,

Yes you can, if you expect to do zero renovation and not buy any furniture/appliances.

It's a little of a stretch, but I have ways to help you overcome this problem.

Feel free to contact me to discuss further.

Regards,
Teck Chuan
BBA (Finance), NUS
Marketing Director
ERA Realty Network Pte Ltd
Mobile: 91374602  Read More