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I am planning to get a new condo unit soon, trying to understand the payment scheme before viewing:

My understanding of Cash or CPF as follows:

5% (Cash paid within 2 weeks of booking)
15% (Cash/CPF)
80% Loan


Other fees:
Legal Fees = 3K+
Agent Fees = 1% (Cash +7% GST)
Stamp Duty Fees = 3% of purchase price - $5400


My question is when am I required to pay the 15% and other misc fees. I only understand that the 5% cash must be paid within 2 weeks.
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2 Answers

Hi Winston,

The remaining 15% will be required approx 2 weeks before the completion date.

For the legal fees part, normally there will subsidy from the bank up to $2500 if u took up a bank loan.

Please do give me a ring to meet up as then i can show u my system where it displays all the units for sale in the market since 3years ago. Then we can compare with the past transacted prices to ensure that you are not buying a high-priced unit.

Cheers,
Brandon -ERA Marketing Director
HP: 8233 23 23
Email: aw.brandon@gmail.com Read More
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Hi Winston,
I believed you are refering New Condo to Developer Launch uncomplete new project that you will purchase directly from Developer Showflat.
follows: 5% cash of Purchase Price on the day of Booking.
15% of Purchase Price(Cash or CPF) in 8 to 10 weeks upon booking your unit.
80% Loan payment through Progressive or Interest Asborption Schemem (pay balance upon TOP)
Other fees: Legal Fees = fm 2.5K + above depending on Purchase Price (50% subsidised by Bank)
NO Agent Fees
Stamp Duty Fees = 3% of purchase price - $5400 My question is when am I required to pay the 15% and other misc fees.
>>> Upon the Signing of Developer Sales & Purchase Agreement which is 8 - 10 weeks from the day you had made your 5% booking fees.

>>> THIS IS NOT CORRECT if it is Under-construction Developer Units Read More
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