Good evening buyer,
do take note that of the additional buyer's stamp duty applicable under different ownership.
If it's purchased under your name, it will be 5%.
If it's purchased under your spouse or joint purchase, it will be 15% due to your spouse is a foreigner.
If you are able to obtain max 80% bank loan, your initial outlay will be as such if you are a sole purchaser:
1) 5% cash downpayment
2) 15% CPF OA funds or cash downpayment
3) estimated 3% buyer's stamp duties
4) 5% ABSD as SPR
5) private legal fees
6) valuation fee etc
You can pay your 15% downpayment, stamp duties and legal fees via CPF OA funds but do take note that usually law firm will request buyers to pay cash for stamp duties as CPF board might not release the funds quick enough to pay IRAS.
Both of you are purchasing for own stay?
I have a freehold 1 bedroom + study at Kembangan Suites. 495 sqft. Situated opposite Kembangan MRT. Asking $750k.
http://www.yttan.com/18808729
If not probably you can share more information about your finances (cash and CPF OA funds) on hand so I will be in a better position to advise you further.
Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
R043025D
Propnex Realty Pte Ltd
(M):
+65 9111 5171
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com
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