Hi folks, what are the expenses one incurs during the purchase of a private condo? How much do you pay for stamp duty / registration? What about the agent fee? Is this usually negotiable? 

Edited September 16, 200917 yr by sepultura

Typically the buyer do not pay the commission. The agent will charge the seller between 1%-2%.

If the agent co-brokes with another agent who represents the seller. The agent makes an average of 0.5%.

That is in the case of the private secondary market.

A simple calculation of Stamp Duty would be 3% of the purchase price - $5400.

What do you mean by agent fee??

Generally buyer of private property don't pay agent fee

don't bother abt the agent fee. simi co-brokes la, simi simi.. not your concern.

Pay

1. lawyer fee

2. Stamp fee

3. mortgage fee

what is registration?

What is mortgage fee? Is it different from the procedure you follow when signing up for a regular HDB mortgage at a bank ? 

Sorry, dunno about registration fee, it was just something I heard getting tossed around in the conversation.

Generally buyer of private property don't pay agent fee

don't bother abt the agent fee. simi co-brokes la, simi simi.. not your concern.

Pay

1. lawyer fee

2. Stamp fee

3. mortgage fee

what is registration?

What is mortgage fee? Is it different from the procedure you follow when signing up for a regular HDB mortgage at a bank ? 

Sorry, dunno about registration fee, it was just something I heard getting tossed around in the conversation.

Legal fees might include

-registration fee (not all lawyers charge this)

-GST might be inclusive or exclusive

-Mortgage Stamp Fee (Average $500)

-CPF Charge (Up to $500)

A lawyer might be able to give you an "all-in" fee that includes everything for e.g. $2300 nett or $2500 nett..

When you sign up a mortgage at the bank, the procedures are typically similar for all banks/financial institutions.