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Mark, your RIGHT choice
Propnex Read More

Dear Sir,

These are the answers to your questions:

1) You will not be eligible for a BTO as you are a 2nd timer and will need to observe a waiting period of 30 months before you are eligible.

2) Yes you can sell the dual key to your mum for her to own it under a single name if she can get th financing.

3) You can also remove your mums name by buying over her share.

4) You will need to buy a resale flat as the income cap for BTO is at 12k.

5) There is no need to pay a resale levy when buying a resale flat. Resale levy is only applicable when you purchase a BTO or a new EC.

I hope I have manged to clarify your doubts!

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:
www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

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 Inter-Terrace House)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer) Read More

Hi!

My fellow realtor Mr Nick Tan had adequately addressed directly at the questions that you posted.

What I would like to share more would be the options that you might have missed out such as the option of just removing your Wife's Name, secure financing for your current EC if your mom is not able to secure the financing and at the same time, cashing out monies from the EC for your wife to use them to purchase the next property.

The above is just one of the many options that I can conjure out for you and I cant share more without knowing more about the following:

1) What is the manner of holding for your current EC? Is it Joint Tenancy or is it tenancy in common? This would affect how the restructuring of your current property.

2) Is CPF used for the property and how much was used for each of the owners? This would affect the financial calculation on the amount of loan needed and also the amount of CPF returns for each owners and the cash proceeds from the resale part sale and purchase of the EC.

The two questions are just sampling of the info that I would need to better advice you on your predicament. I would strongly advice that you speak to a professional realtor who can advice you accordingly and help you expand the options that you have.

I can definitely do that for you and your family as I had done it for many others. Let's arrange for a discussion and I can be reached at 90034385  and lynnong.huttons@gmail.com.

Hear from you soon and I look forward to helping you map out the options that you have.

Pleased to Inform.

Yours Sincerely,
Lynn ONG | BSc. Real Estate
National University of Singapore Read More