aoiaoi

You will have to pay 5% in cash and then another 15% in cash and/or CPF within the next 2 months of exercising the OTP. Depending on the condo you purchase, whether it's new (gonna TOP or still under construction) or resale, payment modes could vary. I think there are the usual progressive payment scheme (i.e. the normal payment where the buyer have to pay certain percentages upon the property being built to a certain stage) and the interest absorption scheme (which replaces the previous deferred payment scheme). You mentioned getting a 10% loan from the bank. Meaning the remaining 90% will be from cash and/or CPF and proceeds from selling your existing property (if any)? Sale proceeds could take a while to be refunded to you though, so you may still need a bridging loan from the bank in the mean time in addition to the term loan from the bank. Or do you mean 10% of the 20% you intend to get from bank loan, meaning 5% cash and 5% CPF? Do take note that most banks are only willing to lend up to 80% of the valuation of your property and 90% could be difficult. Nevertheless, do get in principle approvals from a few banks first before you pay the 5% booking fee. Stamp duty you have to pay in cash first. You can claim reimbursement from your CPF through your lawyer subsequently. Those should be the fees you have to pay for now. Upon TOP, you'll be asked to pay about 6 months of the property's maintenance fee and also the surveyor fee (depending on what is written in your sale & purchase agreement). Not long after, I believe your property tax from IRAS will also find its way to you.... Hope that helps.

I found my value buy at www.sgadsonline.com. There were a few properties that I saw which would have fallen within your $750k budget for a 3 bedroom but that was in end Feb period. I think prices may have risen a bit since. Celestia at Joo Chiat Terrace was quoted at $750 psf and One @ Pulasan at Pulasan Road at $700 psf. I bought the One @ Pulasan at $650 psf. These 2 properties just TOP in end Apr... Other 3 bedroom properties I saw include a) Palm Galleria @ Telok Kurau (was a 3 + 1) 1119 sq ft for $750k (tried negotiating for $700k but agent wouldn't even consider and submit my offer to the developer duh...), b) Ivory @ Ceylon Lane $650k (1044 sq ft) but was too near to the sleazy Joo Chiat nightspot for my liking. My friend made an offer successfully but he changed his mind subsequently on the purchase and c) Ricchezza @ Telok Kurau $700 psf (1033 sq ft). The agents were dishonest and pulled a lousy trick on me as another of their colleague quoted $650 psf just 2 weeks ago and then they said no such price existed ever. How sneaky is that.... So I learnt fast! ALWAYS bring YOUR CHEQUE when you see a too-good-to-be-true deal. You never know. I think Naturalis seems to be on "clearance sale" now as developer is looking to clear their remaining units b4 show flat is torn down. No harm taking a look. Bliss Ville at Kembangan seems to be quite reasonably priced also. Good luck!

It's very near to Still Road and Koon Seng Road intersection, opposite Telok Kurau. The property just TOP last week. Now waiting for my mortgage bank and CPF to pay the remaining amounts and I can collect my key.

I don't think prices today will bot fall to 2005 again. Reason being back then there was an over supply of HDB flats. With HDB flats' prices being lower, there is a wider gap between public and private housing. Thus private property prices were able to fall to such rates. However, since HDB has now limit the flats that it builds and mostly go for DBSS or other buy-first-build-later schemes, over supply of HDB flats is unlikely to repeat again. So the gap between public and private housing is much more narrow and HDB prices is unlikely to fall much with supply now fixed. For me, I have just very recently bought a about to TOP private apartment 3bed 1087 sqft in D15 at $650 psf. Everybody tells me it is a very good buy, my banker, the lawyer, my colleagues and even the property agent. I think I have struck gold! hehe.... More so after finding out that the 2nd floor unit was sold for $880k while mine on the 3rd floor was bought at $706k from developer. There are definitely good buys around. Just keep a look out for those gonna TOP or fire sale units. Mostly developers want to sell them fast as the original buyers either defaulted or didn't secure a bank loan. However, check the smaller listing websites instead of the major ones.