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Hi, We're planning to buy a 1.5million condo next year (May or June 2015). Im a SPR and my partner is a Singapore Citizen. We have a few questions. 1. Is it correct to say that we have to pay a total downpayment of 25% of property price in cash. 20% for the house and 5% for the ABSD? 2. What other cost should we factor in? How much is the legal and agent fees? and how much would this be? 3. If we buy the condo apartment solely in my partner's name (who is Singaporean), can I still use my CPF to help finance his apartment? Thanks!
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4 Answers

Dear sir/madam, The above aspects in terms of cash outlay and financing is applicable for current, and in 2015, the model may change. Visit and Like my facebook page at https://www.facebook.com/propertyblogshop Regards, Geryl LIM Real Estate Director Masters Of Real Estate (L3010548F) CEA Reg R014783H Mobile: +65-81577565  /+65-92787772 Email: geryl7772@gmail.com M.O.R.E Landed Dynamic Alliance Home of *7772 Hotline Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now! Our next exhibition is on 2nd and 3rd August 2014. If you have missed out successful exhibition on 10th and 11th May, do not miss this opportunity again. Register your interest to attend this showcase event now! Read More
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YT Tan (陈永达)
Good afternoon! As of current regulation, if this will be your first residential property and you guys are purchasing it as a married couple, there will not be any ABSD as IRAS will regard it as your matrimonial house. Other than 20% downpayment (5% cash and 15% CPF or cash), the main initial cash outlay will be $3k legal fees, valuation fee (few hundreds), estimated 3% buyer's stamp duty and stamp duty for mortgage. And normally buyers don't have to pay agent's fees as buyer's agent will get it from seller's agent or developer. Last of all, you won't not be able to finance the property with your CPF as your partner is the sole owner. Hope it helps! If you need any assistance in your property purchase, feel free to contact me. Cheers! YT Tan ECG Property 9111 5171  yt.lovelyhomes@gmail.com Read More
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Robbie Chen Chee Howe
Hi,

Here is the breakdown.

Property Purchase Price: $1,500,000
5% Downpayment (CASH): $75,000
15% Downpayment (CPF/CASH): $225,000
Stamp Duty: $39,600
ABSD: N.A.
Agent Fee: N.A.
Legal Fee: $2500 (estimate)

80% Loan: $1,200,000
Tenure: 30 years
Bank rate: 1.5%
Monthly installment: $4141

If you need a more detailed financial calculation, feel free to call me at 97486305  . We can take this discussion further.

Best regards,
Robbie Chen
Propnex Realty Read More
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