Hi,
If you wish to purchase first, you must have enough funds to finance and complete the purchase (ie. combination of cash+CPF OA+loan must cover the purchase price and transaction costs). May I know have you done up a financial plan?
I believe you know the pros of purchasing first, so let me highlight the downsides, which include having to sell your house within 6 months after key collection to your purchase (meaning potentially having to accept a lower price due to a tighter timeline), and also having to finance 2 concurrent loans at the same time (for both houses). I believe the seller of your future house is also doing an upgrading/downgrading at the same time, which means the timeline coordination must be handled properly, otherwise there will be a lot of surprises down the road. This is why I always advise my friends who are doing concurrently sale & purchase to engage an agent to do both transactions for them, it is not as straightforward as there are several parties & factors involved, and a professional and competent agent can value-add a lot to the process. Do you have specific requirements for the purchase? (ie. certain location/blocks). If so, it be good to quickly secure the unit and nego with the owner.
May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.
Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
Email: Ivanng10@gmail.com
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(+65) 97432395
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(Client's Testimonials)
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-- HDB BTO 4rm Sellers Mr. Farvin & Ms. Sel --
Ivan was the first agent that we met up with and right from the offset we had good vibes as he has a friendly personal approach, detailed working style and focuses on building the long-term relationship.
Our unit comes with its challenges but Ivan remained positive and had no qualms committing to our plans right from the start. It took only 6 weeks of aggressive marketing for him to secure a good offer which was a pleasant surprise in the end.
Ivan was always responsive and we had no worries to pass him the house keys. The whole process was transparent and hassle free, and he was always thinking from our point of view on how to make life easier for the client. He is a committed professional and has fast execution, so we felt assured that things are done well and we can entrust the sale process entirely to him.
--- HDB Flat Upgraders Mr. & Mrs. Lee ---
We decided to engage Ivan as our agent as we were impressed with how he answered the enquiries on property guru website.
He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked.
When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.
Thanks Ivan! :)
-- HDB 5-rm Sellers Mr. & Mrs. Ting --
We have engaged the services of Ivan Ng for sale of our property at Pandan Gardens. He is professional and systematic in his marketing approach.
He is hardworking and committed to his work. He is ever ready to help and guide us whenever the need arises. He provided us with sound and useful advice as well as closely follow through from the start till the smooth sale of the property within a short period of time.
Thanks, Ivan. Keep up the good work!
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Meanwhile, I heard there is a holding fee we'll need to pay while hanging on to two HDB units (and paying for both at the same time for 6 months), is that true? If so, how much?