AskGuru Q&A Community

Good morning,

Legal and stamp duty are calculated based on the buying price. The maximum loan period for your case is 20 years as the loan age is capped at 65.

Do feel free to contact me should you require my assistance.

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

Hi Ms A T,

For approx of fees, pls refer to http://www.hdb.gov.sg/cs/infoweb/business/estate-agents-and-salespersons/buying-a-resale-flat/costs-and-fees.

I have a resale 3-rm unit at Toa Payoh for sale. Do contact me should you require any assistance.

Regards,
Talia
 96879032 
DWG Read More

Hi Ms,

You are right in terms of HDB loan. You can loan up to a maximum of 25 years, or till aged 65, whichever is shorter.

As for the cost that you need to set aside, it depends on your purchase price.

Stamp Duty is set at 1% for the first $180k, 2% for the next $180k, and 3% subsequently. Do take note that Stamp Duty can be paid using CPF.

Agent commission industry common is 1% of purchase price + GST for buying of HDB flat.

Do take note there are also fees such as conveyancing fee and other miscellaneous fee. These fees should not exceed $2000.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi,

Typical breakdown for buyer of your scenario as follows:
10% CPF
90% HDB loan
Stamp duties and Legal Approx 3% (can use CPF if sufficient in OA)
1% Agent commission+GST
Hdb admin fees approx 500
Cash over Valuation (if any).

Yes you can take hdb loan and can get 15k first timer grant if your monthly income is 6k & below.

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 ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews
(Client's Testimonials)

--- HDB Flat Upgraders Mr. & Mrs. Lee ---

We decided to engage Ivan as our agent as we were impressed with how he answered the enquiries on property guru website.

He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked.

When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.

Thanks Ivan! :)

--- HDB Flat Buyers Mr. & Mrs. Lau ---

"As 1st-timer Buyers we had plenty of questions, and were uncertain on how best to proceed. A discussion with Ivan cleared our doubts and our plans could progress quickly. We are comfortable with his working style as he is not pushy, and tries to think from our point of view.

It took us about 8 months & at least 30 viewings to find something ideal, & Ivan was always happy to 'house-hunt' with us, always emphasizing "Don't worry, suit you then buy. Important is that you all buy happy & parents endorse the unit".

Eventually, we got our ideal unit, negotiated below valuation. The financial planning calculations were smooth, breakdown was detailed and schedule of payments illustrated clearly so we know what to expect at each phase.

Every phase of hdb process & timeline was explained in detail & hassle free. If you're looking for an agent who is professional & patient, can give Ivan a call. He values the long-term relationship and looks out for your interests. Thanks Ivan and see you at our housewarming!" Read More

Dear Ms A T,

If you are planning to take HDB loan, below is the cash outlay
1) COV if any
2) Valuation fees and admin fees approx. $500.00
3) 1% agent service fees plus GST

The CPF components are:
1) 10% downpayment
2) Stamp duty approx. 3% of purchase
3) Legal fees $1,000.00

Do take note that you need top up with cash if you have insufficient CPF available.

Another important factor that you want to consider is that as most of the 3 room flats in Toa Payoh are more than 40 years old, you may not be able to fully utilize your CPF.

Hope that I have answered your question.
Feel free to contact me should you need any assistance.

Thanks and Regards
Johnny Goh
R018297H
Associate Group Director
OrangeTee.com Pte Ltd
Mobile: 90906267 
Email: johnny.goh@orangetee.com Read More

Hi Mdm,

I believed my colleagues have explained the cost involved in purchasing a 3rm HDB flat. I have a high floor 3rm flat for sale at Blk 194 Kim Keat Ave.

You may refer to this link for more info:

http://www.propertyguru.com.sg/listing/hdb-for-sale-194-kim-keat-avenue-20462024

Please feel free to contact me if you are keen to take a look at the unit!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

Testimonial from Satisfied Clients (2015/2016)
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted 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,
The standard cost required for the purchase are
- 10% of the purchase
- around 3% stamp duty
- legal fee
- 1% agent fee
-...etc

Please not the some cost is payable vis CPF. You are eligible for grants too. Please drop me an email for me to share with you more of the details.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More