Hi,

I've always heard people saying that they don't need to fork out cash when they bought their re-sale (i.e. 2nd hand) condominum. How is that possible? I thought we still need to pay 5% (because bank loan can only cover 95%) out of our own pocket? Isn't that mean we have to pay it in cash?

Need some advice from the kind souls and experts.

Thanks!

i thought 5% cash and 15% cash/CPF. the remaining 80% is bank loan. !!

Alot of possibilities, eg took a bank loan for that 5%, sold previous unit at a profit so contra, etc.

Whatever it is, you are right, 5% deposit is definitely a must in cash, plus all the stamp fees, convenyancing charges, agents' comm (if any) etc are all in cash as well.

Alot of possibilities, eg took a bank loan for that 5%, sold previous unit at a profit so contra, etc.

Whatever it is, you are right, 5% deposit is definitely a must in cash, plus all the stamp fees, convenyancing charges, agents' comm (if any) etc are all in cash as well.

stamp fees can be either in cash or CPF.

i thought 5% cash and 15% cash/CPF. the remaining 80% is bank loan.

5% cash, remaining can be cash, CPF or up to 90% bank loan.

5% cash, remaining can be cash, CPF or up to 90% bank loan.

yup, 5% cash then 15% cash/CPF and 90% bank loan (pte property). but how many % is the stamp fees for pte property?

the stamp fees can be a lot leh for pte property.

yup, 5% cash then 15% cash/CPF and 90% bank loan (pte property). but how many % is the stamp fees for pte property?

the stamp fees can be a lot leh for pte property.

Stamp fees are payable (by the buyer) on the sale and purchase agreement and the mortgage. A simple way of calculating the stamp fees on a sale and purchase agreement is to multiply the purchase price by 3% and deduct $5,400.00 from the result.

Stamp fees are payable (by the buyer) on the sale and purchase agreement and the mortgage. A simple way of calculating the stamp fees on a sale and purchase agreement is to multiply the purchase price by 3% and deduct $5,400.00 from the result.

yup, i know its 3% stamp fees but wanted to confirm again. but why must deduct $5400 after that? $5400 is for what?

for hdb, stamp fees is also 3%?

yup, i know its 3% stamp fees but wanted to confirm again. but why must deduct $5400 after that? $5400 is for what?

for hdb, stamp fees is also 3%?

should be..

if u don't like the $5400, u can transfer to my account..

I don't mind taking that

should be..

if u don't like the $5400, u can transfer to my account..

I don't mind taking that

of course, $5400 is quite a lot leh. but what's this $5400? why can be deducted? is it for direct or resale purchase (pte property)?

need some explaination?

of course, $5400 is quite a lot leh. but what's this $5400? why can be deducted? is it for direct or resale purchase (pte property)?

need some explaination?

why can deducted????

b'coz cheng hu say so.. (that's what my husband reply when I ask him the above question few yr back)

any sale.. regardless direct or resale. Buyer need to pay.

Even u buy HDB direct from HDB, also need to pay

Stamp duty is 3% of sale purchase - $5400. That's the formula for it.

Its payable by CPF. However, as there's some white tape involved, the gov will required u to pay in cash first then reimburse u with CPF later (think its 2 weeks).

why can deducted????

b'coz cheng hu say so.. (that's what my husband reply when I ask him the above question few yr back)

any sale.. regardless direct or resale. Buyer need to pay.

Even u buy HDB direct from HDB, also need to pay

Stamp duty is 3% of sale purchase - $5400. That's the formula for it.

Its payable by CPF. However, as there's some white tape involved, the gov will required u to pay in cash first then reimburse u with CPF later (think its 2 weeks).

no leh..

I pay thru' CPF, didn't come out cash then reimburse

why can deducted????

b'coz cheng hu say so.. (that's what my husband reply when I ask him the above question few yr back)

any sale.. regardless direct or resale. Buyer need to pay.

Even u buy HDB direct from HDB, also need to pay

i dont know what you were talking about leh. blur!

if the selling price is $800,000 (pte property) then 3% stamp fees is about $24,000. so, stamp fees $24,000 still can deduct $5,400 meh? eventually, the stamp fees is $24,000 - $5,400 = $18,600?

$5,400 is the standard deduction?

btw, i dont understand in red leh.

i dont know what you were talking about leh. blur!

if the selling price is $800,000 (pte property) then 3% stamp fees is about $24,000. so, stamp fees $24,000 still can deduct $5,400 meh? eventually, the stamp fees is $24,000 - $5,400 = $18,600?

$5,400 is the standard deduction?

btw, i dont understand in red leh.

Means both HDB & pte same formula...

By the way, stamp duties can pay by cpf ... only lawyer fees , I pay cash.

Don't know leh, cos different regulation at that time ... sometihing like 80%..blah...