Frequently Asked Questions (FAQs)

Frequently Asked Question

1) New Condo Purchase Breakdown
As Updated From July 201825% Minimum Down-payment
( Consists of Cash & CPF OA Usable)+*75% Highest Loan Applicable
( *Loan amount will be in consideration of Age of buyer & Income Assessment )
( *Maximum Loan Tenure Capped at 30 years OR Buyer’s age of 65 Years Old )+Buyer’s Stamp Duty Profile
( Check Our FAQ on Stamp Duty Payable )Example: Price of $1,000,000[$250,000]
25% Minimum Down-payment
2) Is there Any agent Fees?
No. There is no agency fee payable by buyers. 100% Totally Free.Other Than no Agency fee, Our Team will Render all assistance & LIFETIME after-sales service to you.
All for FREE From Start to the Finish.( Standard Duration from purchase until move in will takes 4 months to 3 Years depending on construction stages of the Property. )
3) New Condo Purchase Timeline Stages

Stage	Timeframe	Description	Payment
Stage 1	Day 1	Issue Option to Purchase (OTP) (Meanwhile selection of Bank Mortgage loan & Appointment of Law Firm)	5% Booking Fee
Stage 2	Within 2 weeks	Sales & Purchase Agreement (S&P) to be sent to Law Firm, or sent to Buyer if no Law Firm is appointed	–
Stage 3	Within 3 weeks from delivery of S&P	Buyer to exercise the OTP and sign the S&P at Law Firm	–
Stage 4	Within 2 weeks of Signing S&P	Buyer to pay all Stamp Duties	Buyer Stamp Duty (BSD) & Additional Buyer Stamp Duty (ABSD)
Stage 5	Within 8 weeks from Day 1	Buyer to pay remaining downpayment (Cash / CPF / Both)	15% Downpayment
Stage 6	Thereafter	Progressive Payments	80% Progressive Payment Breakdown

4) Buyer’s Stamp Duty
The Buyer’s Stamp Duty, or BSD, is a levy that all house buyers must pay when they acquire a home. The amount you must pay is determined on the value of the property. The more the tax, the more costly the property. For residential properties, the fee is 1% for the first $180,000, 2% for the second $180,000, 3% for the next $640,000, and 4% for the balance. The total amount due is rounded down to the next dollar.
Latest Buyer’s stamp duty & Additional Buyer’s Stamp Duty Policy Implemented Dec 2021
- - How Do You Determine ABSD?
    Assume a property is worth $1 million but the selling price is $1.1 million. If you are subject to 12% ABSD, the ABSD amount you must pay is $1.1 million x 12% = $132,000.
  - Who Must Pay ABSD?
    ABSD applies to the following buyers:
  - ABSD will be imposed on second (17%) and subsequent (25%) property purchases by Singaporeans.
  - ABSD will be imposed on all purchases made by Singapore Permanent Residents (PRs). The first purchase will be 5%, the second 25%, and the third and future purchases will be 30%.
  - Foreigners: 30% ABSD on all property purchases Entities (companies or associations): 35% on each property (with
  - An extra 5% non-remittable ABSD for developers): 35% on all property purchases
5) New Condo Progression Payment
Order of PaymentProgress of Payment% of Payment1stBooking / Option Fee
- Upon booking and obtaining Option To Purchase (OTP)
- By Cash
- S&P will be delivered to buyer’s lawyer or to the buyer (if no lawyer is appointed yet), within 14 days from the date of option.
- Buyer needs to sign the S&P at law firm and return the S&P to the developer, within 3 weeks upon receipt of S&P.
5% Buyer’s Stamp Duty
- Within 14 days upon signing S&P, by Cash or CPF OA
  - 3% – $5400
Additional Buyer’s Stamp Duty
- Within 14 days upon signing S&P, by Cash or CPF OA
  - SC buying 2nd residential property – 7%
  - SC buying 3rd and subsequent residential property – 10%
  - SPR buying 1st residential property – 5%
  - SPR buying 2nd and subsequent residential property – 10%
  - Foreigner or Entity buying any residential property – 15%
Down Payment Less Booking Fee
- Within 8 weeks from the signing of Option of Purchase
- By Cash and/or CPF
15% 2ndUpon completion of foundation work10%3rdUpon completion of reinforced concrete framework10%4thUpon completion of brick walls5%5thUpon completion of ceiling / roofing5%6thUpon completion of doors & windows frames (are in position), the electrical wiring (without fittings) & plumbing & internal plastering5%7thUpon completion of car park, drains and roads serving the project5%8thUpon obtaining Temporary Occupation Permit (TOP)25% 9thUpon completion date2% Upon production of the Certificate of Statutory Completion8% On the expiry of 12 months from the date of notice to take vacant possession5%
6) When Can I Sell? Seller Stamp Duty?
SSD is the tax levied when you sell residential real estate or land within the required holding period. Three years is the minimum holding period before no SSD is payable.Here are the SSD rates for property purchased on or after 11 March 2017:

Holding Period SSD Rate

Up to 1 year 12%

More than 1 year and up to 2 years 8%

More than 2 years and up to 3 years 4%

More than 3 years No SSD payable
7) When Can I Sell? Seller Stamp Duty?
CPF Restriction for Second Property Purchase

Click Here For CPF Info

CPF Minimum Sum up to 2022

Click Here For Minimum Sum Info
8) Common Abbreviations of Property Purchase

Common Abbreviations of Property Purchase

OTP – Option to Purchase
S & P – Sales and Purchase Agreement
BSD – Buyer’s Stamp Duty
ABSD – Additional Buyer’s Stamp Duty
SSD – Seller’s Stamp Duty
TOP – Temporary Occupation Permit
CSC – Certificate of Completion
LTV – Loan to Value
TDSR – Total Debt Servicing Ratio
MSR – Mortgage Servicing Ratio
Tenure – Loan period of Years
CCR – Core Central Region of Singapore
RCR – Rest of Central Region Singapore
OCR – Outside Central Region Singapore
AV – Annual Value of Property
BUC – Building Under Construction
MCST – Management Corporation Strata Title
Caveat – A caveat is usually lodged by the purchaser to protect his/her interest soon after an option to purchase a property is exercised or a sale/purchase agreement is signed.

Holding Period	SSD Rate
Up to 1 year	12%
More than 1 year and up to 2 years	8%
More than 2 years and up to 3 years	4%
More than 3 years	No SSD payable

faqs

Frequently Asked Question