Hi guru, I intend to sell my holland ave 3room flat which still have about. 75k left in loan I was interested to get a new flat clementi selling for 320k. Knowing that my flat is selling value is higher then the flat I intend to get,is it possible for me to buy the flat first then sell my flat. Is there any cash I need to prepare as I have alrdy use hdb loan twice.any advice by nurash
Posted by Nurash on Jul 19, 2011 in Home Selling | 226 Views
Latest Answers by Real Estate Professionals (6 Answers)
Answer Posted on Jul 20, 2011
Hi Nurash,
Your next HDB purchase will have to go via private bank loan. As you still have outstanding loan, the bank will only grant you 60% loan. You will have to come out with 40% upfront. I believe this will be the major problem for many upgraders like you.
Besides this, you have to take into consideration the COV, which is also cash. I suggest you do a financial planning first and determine which is the best way for you.
Please feel free to drop me an email or call me directly for further discussion, or we can also meet up at your convenient time and place.
Thank you & Best Regards
J.A.Goh
HP: 9639 0350
ERA Senior Marketing Director
CEA Reg No. R025894Z
CEA License No. L3002382K
www.gohjaERA.myweb.sg
Email: gohja@singnet.com.sg
Your next HDB purchase will have to go via private bank loan. As you still have outstanding loan, the bank will only grant you 60% loan. You will have to come out with 40% upfront. I believe this will be the major problem for many upgraders like you.
Besides this, you have to take into consideration the COV, which is also cash. I suggest you do a financial planning first and determine which is the best way for you.
Please feel free to drop me an email or call me directly for further discussion, or we can also meet up at your convenient time and place.
Thank you & Best Regards
J.A.Goh
HP: 9639 0350
ERA Senior Marketing Director
CEA Reg No. R025894Z
CEA License No. L3002382K
www.gohjaERA.myweb.sg
Email: gohja@singnet.com.sg
Answer Posted on Jul 20, 2011
Hi,
My team is marketing 2 units at West Coast and 1 at Dover.
We can have an non obligations discussion to work out the necessary finances.
Louie Tan
84849066
CEA Registration Number: R006400B
My team is marketing 2 units at West Coast and 1 at Dover.
We can have an non obligations discussion to work out the necessary finances.
Louie Tan
84849066
CEA Registration Number: R006400B
Answer Posted on Jul 19, 2011
Hi Nurash,
I would like to serve you on your real estate needs.
Do call me to discuss further on this.
Thanks!
--
Yours Sincerely,
Lynn ONG
BSc. Real Estate (NUS)
Senior District Manager / ECG Property Pte Ltd
L3009759F / R014-395F
Mobile: (+65) 8479 3149
Email: lynn.lovelyhomes@gmail.com
Website: http://www.LYNNONG.net/
Blog: http://www.lynnlovelyhomes.blogspot.com
I would like to serve you on your real estate needs.
Do call me to discuss further on this.
Thanks!
--
Yours Sincerely,
Lynn ONG
BSc. Real Estate (NUS)
Senior District Manager / ECG Property Pte Ltd
L3009759F / R014-395F
Mobile: (+65) 8479 3149
Email: lynn.lovelyhomes@gmail.com
Website: http://www.LYNNONG.net/
Blog: http://www.lynnlovelyhomes.blogspot.com
Answer Posted on Jul 19, 2011
before you go through with the transaction,there are some issues you should understand as a seller.
i recently wrote an article on the 3 biggest mistakes that singapore home owners make when selling their property that makes them throw away tens of thousands of dollars in profits unnecessarily.
if you do not want to make the same mistake,you might want to have a look at the article link below.Hope you find it useful.
http://singapore-agent.com/
i recently wrote an article on the 3 biggest mistakes that singapore home owners make when selling their property that makes them throw away tens of thousands of dollars in profits unnecessarily.
if you do not want to make the same mistake,you might want to have a look at the article link below.Hope you find it useful.
http://singapore-agent.com/
Answer Posted on Jul 19, 2011
Hi Nurash
The important part is to do a financial plan for u.If u have enough cpf and cash u can buy first and sell later.
u need cash for cov,agt fees,stamp duty etc.
Call me at 91551038 for more assistance.Cheers
Richard Seet
91551038
HSR
The important part is to do a financial plan for u.If u have enough cpf and cash u can buy first and sell later.
u need cash for cov,agt fees,stamp duty etc.
Call me at 91551038 for more assistance.Cheers
Richard Seet
91551038
HSR
Answer Posted on Jul 19, 2011
Afternoon Nurash,
Regards to your question, the current estimated valuation for your unit ranges from $370k to $400k. The realistic asking COV is around $45k to $55k. I have marketed couple of units in Holland and I'm aware of the status.
To purchase the Clementi unit first, you need to have enough CPF and Cash, to proceed with the purchase. You will most likely to to proceed with a Bank loan, for the purchase.
Do feel free to contact me for further assistance.
Thanks
Mike Lim
96929209
ERA
Regards to your question, the current estimated valuation for your unit ranges from $370k to $400k. The realistic asking COV is around $45k to $55k. I have marketed couple of units in Holland and I'm aware of the status.
To purchase the Clementi unit first, you need to have enough CPF and Cash, to proceed with the purchase. You will most likely to to proceed with a Bank loan, for the purchase.
Do feel free to contact me for further assistance.
Thanks
Mike Lim
96929209
ERA
Ask a Question
Search Questions & Answers
Browse Questions by Categories
Advertising in PropertyGuru (321)
Condo Questions (5223)
Design, Deco & Renovation (67)
General Questions (3177)
HDB Questions (3192)
Home Buying (6313)
Home Financing (1100)
Home Selling (1372)
Investing in Singapore (473)
Living in Singapore (101)
Property Agents (786)
Property Legal Advice (470)
Property Market (592)
Renting Property (2778)
Using PropertyGuru.com.sg (181)