Cash Payment For Purchase Of Property

How Much Cash Do You Need To Prepare To Purchase A New Launch 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 of the new launch property in cash, when you book a new launch property (HDB EC, Condo, Landed) in Singapore.

• Downpayment – You will have to pay the 15% of the purchase price as downpayment for the private property purchase, within 8/9 weeks. You may use your CPF Ordinary Account Savings to pay for the 15% (provided you manage to get the 80% housing loan). If not enough top 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 advanced to avoid any delay.

How Much Cash Do You Need To Prepare To Purchase Resale HDB Flats (HDB Loan)?

Cash is required for the payment of:

• Option Fee – You will have to pay an option fee of $1 – $1000 in cash/cheque, when you want the sellers to grant you the OTP.

• Option Exercise Fee – You will have to pay an option exercise fee of $1 – $4000 in cash/cheque, when you want to exercise the OTP.

• Cash Over Valuation (COV)

• Cash Downpayment – No cash downpayment required

• Cash Payment – when the eligible loan (up to 90% of the purchase price) and the CPF allowable money for withdrawn (for property purchase) are not enough to cover the purchase price.

If the cash payment required is more than 10% of the purchase price, you are only required to pay 10% within 10 calendar days from the 1st Appointment date. The balance must be paid on the completion date of the purchase.

If the cash payment required is less than 10%, this full amount must be paid within the 10 days period.

How Much Cash Do You Need To Prepare To Purchase Resale HDB Flats (Bank Loan)?

Cash is required for the payment of:

• Option Fee – You will have to pay an option fee of $1 – $1000 in cash/cheque, when you want the sellers to grant you the OTP.

• Option Exercise Fee – You will have to pay an option exercise fee of $1 – $4000 in cash/cheque, when you want to exercise the OTP.

• Cash Over Valuation (COV)

• Cash Downpayment – At least 5% of the Valuation Limit

• Cash Payment – when the eligible loan (up to 90% of the purchase price) and the CPF allowable money for withdrawn (for property purchase) are not enough to cover the purchase price.

Bank’s lawyer will advise the “Name” for Cashier’s Orders to be issued to. The buyer has to pay 5% cash + COV, 10 days before Completion Appointment to the lawyer.