Pls find the answer below:
1) what process & procedure is involved in buying or renting a commercial property.
Process is similar to residential. But, its best to nominate a professional agent to represent you if you are not familiar.
2) Do I have to pay any taxes later on
Stamp duty payable within 14days of exercising of OTP.
3) Any Stamp Duty required
Yes. 3%-5400. ABSD if applicable i.e. living quarters, number of properties etc.
4) Do i hv to pay commission to agent
1% for buying if agent is representing your INTEREST. - sourcing, validating ownership, negotiating, guiding you through resale process etc.
5) How much loan can i take
Typically 70% depending on your income.
6) How to get a valuation on the property that i intend to buy
You can get from the banks or the agent can provide indicative (from banks as well).
7)What are the additional costs
Legal fees, CVY admin fee, GST if applicable etc.
Do call me at (65)-9745-5178 or email firstname.lastname@example.org if I can assist you in your buying / selling / renting or leasing.
Thks & regards,
Mike Tay (郑树荣)
B.Sc. (NUS), EMBA (SUNY)
M: +65 97455178
HSR International Realtors Pte Ltd
Estate Agent Reg No: L3002226G