Guidelines for visit Stirling Residences Showflat:

Always keep in mind that such residential units at showflats are sold on a first come first serve basis. So if you want to be able to select the unit of your dreams, it is essential you come prepared and with complete knowledge of your budget and finance. Here are a few mandatory things you should do before you visit any property showroom:

  1. Check your CPF For Purchasing Stirling Residences Condo:

Checking your Central Provident Fund (CPF) will tell you how much funds you require for the purchase of the new property. This way you will not have to face any financial difficulties and all your transactions will go smoothly. First time buyers will be able to use all funds in their Ordinary account while second time buyers must fulfill the minimum sum requirement of $75000 in their CPF accounts.

  1. Get your loan approved For Stirling Residences By Logan:

Any banker or mortgage broker can help you get this step done.You will need to apply for an Approval in Principle (AIP) and can use mortgage broking sites to compare rates. Any banker or mortgage broker can help you get it done. This is a free service! The documents you will need for this purpose are:

Here are the set of documents For Stirling Residences Condominium you will require are:

  • Copy of NRIC or passports of all purchasers
  • All your latest Credit Card Statements that you have utilized
  • Application form
  • Declaration form of all credit facilities
  • HDB page to show that your HDB status Most recent three months pay slip and IRAS Tax Assessment Return for people who are employed
  • Latest 12 months of CPF contribution for people who are employed
  • Latest 1 year of IRAS Tax Assessment Return for people who are employed and self employed
  1. Know your Additional Buyer’s Stamp Duty (ABSD) bracket For Stirling Residences @ Queenstown:

The purchase of the first property will be free of any ABSD for Singaporeans. However, on your later purchases,your account will be exhausted 7% and 10% on the price tag separately. For Permanent Residents (PRs), you will have to pay an additional 5% tax on the purchase price. Property purchases for Foreigners will be taxed 15% on the price of each property.

  1. Understand how the Progressive Payment Scheme Works For Stirling Residences:

After you have confirmed the unit you will be purchasing, you will need to:

  • Pay the developer’s project account 5% cash in exchange for the Option To Purchase (OTP).
  • The developer will dispatch the Sales and Purchase Agreement (S&P) to you in the next 2 weeks.
  • If you want to use the option, you will have 3 weeks from the date of receiving the Sales and Purchase Agreement (S&P).
  • The Stamp Duty and ABSD is payable 14 days from the date of exercise.
  • You will have to pay the remaining down payment of 15% within 8 weeks from the initial OTP issue date.
  1. Balloting process:

Before the launch of the condo, you will receive a preview timeframe of about two weeks so that you become aware of the size and the price of the unit. During this period, you will be eligible to register for balloting way before the public launch and will be able to select the unit of your choice at a discounted early bird rate.

The documents you will need for this are:

  • Copy of your ID card
  • Filled and signed interest form
  • Cheque issued to the developer’s project account

Follow these steps and voila! Your dream home is almost yours!

Singapore Property Outlook 2018