Hi Andre,
Most properties take an average of 14 weeks to complete. Assuming you have already identified your choice home, you have 2 weeks to exercise the option and another 12 weeks for your lawyer/banker to work on the legal completion process.
In some cases, a shorter completion period can be agreed upon with the seller.
As for taxes, you will need to pay approximately 3% of the sale price of the property as stamp duty payable to the Singapore tax authorities. Other fees include lawyer's fees (which in some cases can be subsidies by the bank).
You may wish to note that currently, there is a new rule (introduced in Jan 2011) that stipulates that a seller's stamp duty is imposed if property is sold within 4 years of purchase.
If you need more information, you may reach me at
+65 8188-3133
.
Best Regards
Steven Chua
ERA
email : stevenchuahk@gmail.com
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