We all know that purchasing a property anywhere in this particular world is not hassle-free. You need to check selling if it is legitimate by getting exclusive information from the real estate agent and the neighborhood, which includes the detailed transaction procedure, and property taxes. It is vital be connected with a proficient and knowledgeable real estate agent. He could function your representative and smartly negotiate the price of one’s dream property. He will even act as your consultant should you require legal and financial advice associated the property’s purchase and mortgage application.

After the agent would be able to identify and shortlist some properties for approval, you will be thought to make short clicks. The trips are to make sure that you are satisfied the new interior and exterior types of the house including the fixtures of the property before deciding to acquire. Property investments are long-term and Jade scape condo also that need to make sure you would be happy before agreeing to the selling price. It ideal to inspect the property one last time an individual decide to sign the option to buy.

Things you should take thoughts when budgeting your cash

1. Stamp duty of 3% belonging to the purchase price – In excess of $300,000, you are crucial to pay 3% for the purchase price to the Inland Revenue Authority of Singapore.

2. Legal cost

3. Once fee of estimated $3,000 is paid to the solicitor

4. Equity of at least 30% with the purchase price

Within fourteen days after signing the Option to Purchase, if the amount exceeds $300,000, you might be required to spend a stamp duty having a minimum of 3% for this purchase prices. If you apply for a bank loan, banks usually allow borrowers to secured loan of 70% of the fee. This means that you should prepare really the 30% equity.

For the expats, you need to know that the Singapore government restricts foreign ownership by expats within the private homes as governed by the Residential Property Act in 1973. This Residential Property Act recently been amended in 2005. Foreigners can now purchase non-condominium developments of less than 6 levels. However, you need to seek approval if you propose to purchase land, landed properties, and semi-detached and terrace houses. To get the approval, you choose to submit the application to the Singapore Land Authority. Cardiovascular exercise prepare your entry and re-entry permits and other qualifications before applying.