Asked by Anonymous
Need some Mathematics Gurus to help check, Thanks!
Example #1: First-time buyer (Singaporean)
Property cost: S$588,000
Buyer's Stamp Duty = S$12,240
*Note that in this case, no ABSD is payable because of 1st Property ownership.
BUYING A RESALE CONDO @ S$588,000 BREAKDOWN:
BANK LOAN 80% = S$470,400
Remainder = (S$117,600)
5% CASH Purchase Price = (S$29,400) <<< CASH
15% BY CPF = (S$88,200) <<< CPF (CPF HAVE AROUND 100K IN OA, ###NOT SURE IF THIS PART REQUIRE CASH UPFRONT FIRST, THEN CPF REIMBURSEMENT LATER ???)
Buyer's Stamp Duty = (S$12,240) <<< CASH PAID FIRST! ###CAN BE REIMBURSED FROM CPF, BUT HOW LONG ???)
Legal Fees for Condo = ~(S$2,500) <<< CASH
TOTAL NEED TO PAID BY CASH = 29,400 + 12,240(CPF REIMBURSEMENT LATER) + 2,500(LEGAL FEES) = (S$44,140) <<< CASH NEEDED ON HAND
@REMARKS:
###Buyer's Stamp Duty = (S$12,240) <<< PAY BY OWN CASH FIRST!
###Legal Fees estimated at S$2,500 correct?
Example #1: First-time buyer (Singaporean)
Property cost: S$588,000
Buyer's Stamp Duty = S$12,240
*Note that in this case, no ABSD is payable because of 1st Property ownership.
BUYING A RESALE CONDO @ S$588,000 BREAKDOWN:
BANK LOAN 80% = S$470,400
Remainder = (S$117,600)
5% CASH Purchase Price = (S$29,400) <<< CASH
15% BY CPF = (S$88,200) <<< CPF (CPF HAVE AROUND 100K IN OA, ###NOT SURE IF THIS PART REQUIRE CASH UPFRONT FIRST, THEN CPF REIMBURSEMENT LATER ???)
Buyer's Stamp Duty = (S$12,240) <<< CASH PAID FIRST! ###CAN BE REIMBURSED FROM CPF, BUT HOW LONG ???)
Legal Fees for Condo = ~(S$2,500) <<< CASH
TOTAL NEED TO PAID BY CASH = 29,400 + 12,240(CPF REIMBURSEMENT LATER) + 2,500(LEGAL FEES) = (S$44,140) <<< CASH NEEDED ON HAND
@REMARKS:
###Buyer's Stamp Duty = (S$12,240) <<< PAY BY OWN CASH FIRST!
###Legal Fees estimated at S$2,500 correct?
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