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Dear Gurus,
I am thinking to buy a 5-Room flat in Marine Parade, As i already have one 4-Room flat in Marine Parade, Do i need to Contra ? or Is there any other alternate? Also let me know if you'll have any 5-Room units available at Valuation.
Thanks.
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1 Answer

TC Tan
Replied
Hi Nishant,

Pls allow me to explain the term CONTRA in hdb transaction context.
If a party decides to do CONTRA, his current house that he owns must be on HDB loan or that he fully pays for, and for the next purchase he is required to take only HDB loan. In the entire process, no 2 or more parties can do a contra. Hence, the selling and buying process for that party is conducted at the same time. The advantage of a CONTRA deal is that the party needs not wait for 2 separate occasions to complete the selling for his cpf money to come in and then pays for the purchase of the next one; he could do so with 1 occasion thus saving time and costs.

Do call me at 98765130  . I can speak with you more for better understanding, and arrange for your viewing of a 5 room.

Thanks.

TC Tan
Senior Group Director
DWG
 98765130 
dennisweeagent@yahoo.com.sg
http://www.dennisweeagent.myweb.sg Read More
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