Last time I buy my house under the First Home Programme, even though my loan is 100%, I was still compelled to pay the 10% downpayment. Just the bank reimburse me later through the loan.

So the question is... is the seller willing to not receive the 10% downpayment? And the installment become very high lo.

if the property can get that value by the bank panel valuers and the bank should be able to give the loan base on the mark up value

ive seen a lot of mark up loans being done

Are you the agent or the owner?

Bank wouldn't know that the price had been marked up.

Only the buyer, seller and SPA lawyer will know as usually the lawyer will prepare an additional 'variation' letter to indicate that the owner is giving some discount etc. in order for both parties to agree on the 'actual' selling price.

If you are the owner, be prepared to pay extra on legal fees as it will be based on the marked-up SPA price (but usually you can ask the buyer to absorb the differential amount).

you will need a written consent from owner that he/she will pay you back the 10% cos once your loan is done, your bank will disburse the $ to the owner

pls consult your lawyers

is it increase the snp price?
the property kena rgpt tax or not?
if yes..then u need to pay higher tax cos of it

Possible. The risk is on the buyer not the seller. The buyer need to make sure he can get the bank valuation at such mark up price, you need the agent & lawyer to cooperate with some panel bank as well.

Reason simple only. The agent want to close the sales. The bank also want to hit their target. The buyer want to own the unit without any upfront payment. You want to sell it without any possible penalty(RGPT must tell lawyer that it must be paid by buyer if any).

You only need such win-win-win-win arrangement. In fact, some of this arrangement is actually initiated by the banker for their troubled client through the agent. I disposed a unit under such arrangement last year, no issue to seller so far. Eventually the pressure will be on the buyer.

In fact, it will be better for seller because under the LDHN record, you are disposing a bigger value asset, you can purchase a bigger value item without triggering LDHN in near future.

nope, lets say you sold the property at 500,000 and the SPA is 600,000, the bank will pay you 90% of 600,000 which is 540,000, the excess you have to give the buyer back 40,000

Legally speaking, it is wrong, but many peoples are doing in mark up:

As long:
1) ur house bank value is high enough (eg bank value 700k, you sell 630 which is 90% of the bank value)
2) you as seller own the house more than 5 years (so no rpgt concern)
3) lawyer and agent willing to help in all way, bank provide bank loan to buyer do not detect.
4) Your agent fee also will be based on the lower selling price which is 630k instead of 700k

Buyer need to bear extra legal fee and stamp duty due to spa price is 700k instead of 630k.

No, your proceed is not based on formal SPA, lawyer will help to calculate based on actual agreed selling price which is lower than SPA. All money will go to lawyer first before they release to you.

That said, seller's (owner) 10% downpayment is based on 700k or 630k?

If the latter, why the trouble and reason worth doing so by the seller?

Risk to seller is higher RGPT fees.
And if buyer back out u do not get to keep the 10% on top of that u have to fork out money to pay lawyer.