How Much Cash Is Required For Buying Private Property
Cash is required for the payment of:
- Option Fee
- You will have to pay an option fee of 5% of the purchase price in cash when you book a new launch property (Private Condo, Executive Condo, Landed Property) in Singapore.
- You will have to pay 20% of the purchase price as the downpayment for the private property purchase.
- 15% within 8 weeks if you are buying a private condo or landed property; within 9 weeks if you are buying an executive condo.
- 5% upon completion of the foundation.
- You may use your CPF Ordinary Account Savings to pay for the 20%, provided you manage to get the 75% housing loan from the bank. If not enough topped up by cash.
- Legal Fees and Stamp Duties
- You may use cash or CPF Savings to pay for the legal fees and stamp duties.
- It may take some time for the withdrawal of CPF Savings for the payment. Please inform your appointed lawyer in advance to avoid any delay.
|1st||5%||Booking & Obtaining Option To Purchase||Cash|
|Buyer to engage a solicitor (~ $3000)|
Buyer to select the Mortgage Loan (Stamp fee ~$500)
|Cash or CPF OA|
|Buyer's Stamp Duty||Cash or CPF OA|
|Additional Buyer's Stamp Duty||Cash or CPF OA|
|15%||Downpayment||Cash or CPF OA|
|2nd||5%||Completion of Foundation Work||Cash or CPF OA|
|3rd||10%||Completion of Reinforced Concrete||Bank Loan|
|4th||5%||Completion of Brick Wall||Bank Loan|
|5th||5%||Completion of Ceiling / Roofing||Bank Loan|
|6th||5%||Completion of Doors & Windows Frames are in position, the Electrical Wiring & Plumbing & Internal Plastering||Bank Loan|
|7th||5%||Completion of Car Park, Roads and Drains||Bank Loan|
|8th||25%||Obtaining Temporary Occupation Permit (TOP)||Bank Loan|
|9th||15%||Upon Production of the Certificate of Statutory Completion (CSC)||Bank Loan|
|Housing Loan||1st Loan||2nd Loan||3rd Loan|
|Loan Tenure||Up To 30 Years||31-35 Years||Up To 30 Years||31-35 Years||Up To 30 Years||31-35 Years|
|Sum of Tenure & Age of Borrower||Up To 65||Above 65||Up To 65||Above 65||Up To 65||Above 65|
|Loan To Value Limit|
|Minimum Cash Outlay||5%||10%||10%||25%||25%||25%||25%||25%||25%|