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Good afternoon Mr. Beh,

I have worked on similar cases before. Typically both sale & purchase will have to do concurrently, and we will require extension from the buyer who buys your place to try to get a smooth transition. As it is a hdb regulation to sell off your current hdb flat when you get the next hdb flat, the bank will recognize this and typically be able to grant a higher loan amount. It will still be ideal to secure a buyer for your current flat first before you commit to the next flat, although sometimes it doesn't always work out perfectly. Still I recommend to do both marketing of the current flat and house hunting concurrently.

If eligible and required, we can also try to take a temporary bridging loan to try to do a smooth transition.

Perhaps we can discuss more at 97432395  ? Will require more details so to make a more personalized recommendation.

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 Realtor
ERA Senior Marketing Director
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-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --

I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan.

-- HDB Jurong West 5-RM Sellers, Exec Apartment Purchasers, Lenz & Michelle --

We would like to thank you for ensuring a smooth and well-explained process throughout the whole selling and buying of our property. We got to know you thru Property Guru, where we are scouting for condo around West area. We remember that we are quite tight in our budget in purchasing the condo unit,but you are still very willingly explaining and calculating our financial liabilities. You are always having your smiles whenever we met for discussion.

We appreciated your process of selling and buying of our property are very systematically and well executed, from financial calculation to the purchase procedure of our new house. We are always being updated thru our group chat during the engagement of your service.

We would never expect such a smooth sailing experience of selling and buying of property. Your professionalism in work will definitely be remembered and rewarded. All the best in your property venture!

-- HDB Hougang 4-RM Sellers Mdm. Ng & Jean --

Ivan was the first and only agent that we met before engaging him as our exclusive agent. At the first meeting, Ivan meticulously went through the entire sale process. As we were not familiar with the procedures, he spent extra time to explain what was required from us and what we should expect.

After a week of preparation, Ivan came to take photographs, and once the advertisements were up, we had interested parties coming to view the apartment the very next day. Within a week, we had secured an offer from the buyer. Ivan was reliable and responsive, and he made the entire process smooth and hassle free Read More

Hi Mr Chee,

Your situation is quite common and faced by many home owners who are looking to switch from one HDB flat to another.

There are a 2 key considerations that you need to take note. The first is the cash flow. For my clients, I will usually advise them to sell first so as to minimise their cash flow as they will be able to use the deposit from the sale to put down as deposit for the purchase and more importantly use the sales proceed of their current flat towards the purchase. If the timing is too tight, bridging loan is a possible option but usually not necessary.

Second important consideration is the timeline. I will usually time the sale and purchase back to back for my clients so that they will not need to move to an interim place to stay and also have some buffer time for a renovation.

I have assisted many of my clients in the same situation to transit smoothly and seamlessly. Please feel free to contact me so that I can understand your situation better and come up with a transition plan for you. I am available for consultation via zoom this period as well!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

Visit my website to get to know me better:
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Testimonial from Satisfied Clients

“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
Peter & Wendy (Property Seller)

I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
Weilun & Benita (Property Seller)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations. We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Read More

Dear Mr Beh,

I have a recent experience of assisting a client in a similar position as you to sell off his current flat in Sembawang to purchase a resale unit in Yishun to be nearer to his parents who is the primary caregiver to his son.

The first thing I did was a feasibility study to ascertain his financial position, calculating his estimated sales proceeds, funds in his CPF before and after sale, estimated loan size and price range of his intended purchase flat.

When I am able to capture this, we planned up the marketing campaign for his sale as well as began the home hunting progress to understand better how the actual market situation is on the ground, and adjustments to both sale and purchase plans were made to align to the ground sentiments.

We managed to find a buyer for his Sembawang flat within 2 weeks of marketing, which was sold at market value, and thereafter, confirmed his purchase approximately 3 weeks later for a flat in Yishun also at market value.

As the plan was to retain bit more cash portion from the proceeds of his sale, the client opted for a bank loan instead.

I hope the above explanation may have given you a slightly better understanding and should you require further explanation, we can always arrange for an online discussion.

Hope to hear from you soon.

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
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Dear Mr. Chee,

Well noted your situation. This is not a new problem as many house upgarder are facing the same situation. One way you can do is contra (means selling and buying your next flat) at the same time. As you are taking bank load, so timing of the 2 process are very important. I have done many of such cases for my clients. We can do it simultaneously on your selling and buying. Extension of your current house will be required and necessary. So this way, you will only need to shift house once instead of finding a temporary house to stay for few months.
It is a bit too long to write here. I will be glad to assist you in this sell and buy process. Let me know if you are free for a discussion either via email or whatsapp or we can also meet up in May. Will do my best to serve you. I am ready for a discussion anytime to your convenient.

Kind Regards
J.A.Goh
ERA Division Director
Email: gohja@singnet.com.sg
HP: 96390350  Read More

Hi Sir
This is a common situation property owners faces. There are 2 options available each with its own pro and con. This first option is the more common option which is to sell your current house first before buying another one. You can make use of the proceeds from selling your current flat to purchase a new one. One main consideration for you to consider is whether you have a temporary place of stay while waiting for your new house to be ready (both in terms of completion date and renovation). In recent years, HDB have make it easier for sellers to have a smooth transition to their new house. HDB now allow seller to request from the buyer up to 3 months extension of stay which means you can continue to stay in your flat for up to a period of 3 months after you sell off your flat. In terms of timeline, you need to time your flat purchase completion about 3 weeks after your flat sales completion. If you are granted 3 months extension by your buyer, this timeline is enough for you to get a new house in time and also complete your renovation works on your new house before moving in. However one disadvantage if you choose this method is that you have less negotiating power with buyers and the pool of prospective buyers will be smaller as most buyers wish to move in to their new flat as soon as possible just like yourself. In addition as the timeline is quite tight, you have limited time to find a new house which means you have to settle on whatever house left in the market. Some sellers actually do get ready a temporary place of stay as they did not want to rush through the process and end up settling in a house that is not really to their liking. The second option is a more riskier option which is to buy a house first before selling your current flat. While you have an advantage of luxury of time to find a house that is to your liking and offers the best deal, you have to ensure you have enough funds both in terms of cash/CPF funds and loan quantum to finance your new house. Bank will generally state the maximum loan amount that can be approved(called AIP) and they have already take into consideration that the loan quantum provided is assuming you did not sell your current house. However HDB requirement is that you have to sell off your flat within 6 months after purchasing one. This means during the transition period, you have to finance 2 houses which might strain your financial. In addition, due to having to meet HDB 6 months timeline, you will be in a rush and desperate to sell off your flat and this might result in you selling your flat at a very low price. Do contact me at 93337505  1 for a free and non obligatory discussion on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More

Hi Mr Chee,

Based on your current situation, I would advise you to only commit to your purchase after you have the confirmation from the Buyer for your current flat.

If you're only eligible for Bank loan, you should time your sale and purchase properly, so as not to jeopardize both deals, and also to ensure smooth transition to your new place. I believe you do not wish to move house more than once right?

I am experienced and well-versed in both private and HDB resale transactions. I will be able to assist you in your housing plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More