Buyers who budget only for the downpayment are usually short by tens of thousands of dollars, because stamp duty and legal costs are cash outlays the loan does not cover.
The stamp duty component
Buyer's Stamp Duty is tiered: 1% on the first $180,000, 2% on the next $180,000, 3% on the next $640,000, 4% on the next $500,000, 5% on the next $1.5 million, and 6% above that. On a $1.5 million purchase, that comes to $44,600, and it is due within 14 days of exercising the OTP, in cash or CPF, never financed by the loan.
Legal and valuation costs
Conveyancing lawyer fees for a private resale typically run $2,500 to $5,000, covering title searches, legal requisitions, caveat lodgement, and completion. A bank valuation report costs a further $300 to $700. Neither is optional in practice, a lawyer is essential since the financing bank requires legal representation.
What ABSD adds for a second property
If this is not your first residential property, Additional Buyer's Stamp Duty applies on top of everything above: 20% for a Singapore Citizen's second property, 30% for a third, with different rates again for PRs and foreigners. On $1.5 million, a Singapore Citizen's 20% ABSD alone is $300,000, more than six times the BSD.
Total upfront cash, worked example
On a $1.5 million first property with a bank loan: 5% cash downpayment of $75,000, a further 20% from CPF or cash of $300,000, Buyer's Stamp Duty of $44,600, legal fees of roughly $3,500, and valuation costs of a few hundred dollars, totalling around $422,000 to $425,000 before you collect the keys.
Frequently asked questions
Is the legal fee negotiable?
To some extent. Conveyancing fees typically range $2,500 to $5,000 for a private resale purchase, and some lawyers price competitively, but the work itself, title search, requisitions, caveat, completion, is fairly standardised across firms.
Can I use CPF to pay Buyer's Stamp Duty?
Yes. Buyer's Stamp Duty can be paid from CPF Ordinary Account savings, unlike property tax, which is always a cash cost. Additional Buyer's Stamp Duty, where applicable, can also be paid from CPF OA.
Does the bank valuation fee apply even if my offer matches the asking price?
Yes. The bank commissions its own independent valuation regardless of the agreed price, and if the valuation comes in below your purchase price, the bank will only lend against the lower figure, leaving you to cover the gap in cash.
Want your total upfront cash figure confirmed?
Winfred itemises stamp duty, legal fees, ABSD if it applies, and your downpayment split, so you know the real number before you make an offer.
Book a free 30 minute callWinfred Quek is an Associate Marketing Consultant at Crestbrick Pte Ltd (CEA Licence No. L31010886H). CEA R073319H. This page is for general information only and does not constitute financial, investment, or legal advice. Rates and rules reflect the position as at 5 Aug 2026; verify current figures with IRAS, HDB, or MAS before making any decision.