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Hi,

May I know which project you are referring to? Assuming a 1.3m property, you can book the unit first if the finances are comfortable. The 20% downpayment (5% cash minimum) and stamp duties of 3% BSD +7% ABSD, will need to be settled within 8 weeks, assuming you qualify for max 80% loan. Thereafter you have to service 2 concurrent mortgages (if you have outstanding for 3bedder) as its typically progressive payment schedule for the new launch. You might qualify for ABSD refund if certain conditions are met, but thats after selling the current property.

Selling first as you can imagine, will be less taxing financially. The downside is the hassle involved. In current subdued resale market, it might take some time to secure a buyer as well.

I have worked on similar cases before and will be glad to share more on the best approach for a smooth transition. 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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-- 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! :) Read More

Afternoon,

If your current unit have being fully paid and your financial status allow, you can obtain the mortgage loan from bank. 80% loan means that you need to prepare 20% down payment. How much cash is required would depends on how much loan you are eligible for and how much CPF you can use after setting aside the required minimum sum. ABSD will be payable on the upcoming purchase. When TOP is near, you can then start to market your current unit. However, if your financial status does not permit, then you might have to stick to Plan A.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi do contact me at 97970200  or ngsiewwhye@gmail.com to discuss more and provide an ideal solution for your situation

Mark, your RIGHT choice
MCG Read More

Dear sir/madam,

There could be a number of different options moving ahead, depending on your existing financial strength and commitments.

1 of the option could perhaps be selling your unit to a potential investor and immediately renting it back from this purchaser as a condition of sale for period of time, where you can work out the finer details with the prospective purchaser.

Nevertheless, in order to best propose a potential solution, we need to sit down and draw out the various options and limitations you have. Have you heard of a new launch coming up in your area of interest to trigger such an enquiry? Let's talk further.

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

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Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B) - Century 21
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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Dear Sir,

Your dilemma is also faced by many of my clients. I would usually look at their overall financial situation before giving them the most sensible recommendations.

To purchase a 1.3 mil condo, with a 200k war chest, you may not be able to pursue option 2 which is to secure the unit first.

Option 1 will make more sense to you because:

a. By selling the current unit and buying the new unit, you will be serving only one mortgage loan instead of 2.

b. Rental market is very weak now and tenants are able to secure bargain prices. Choices are also aplenty. Although it will be troublesome to move esp with 2 kids but renting in the short term may not be a bad idea after all.

c. By buying now, you will be able to sell 3 years later, by then prices may be appreciated like what you say and if there is a change of plans, you can also have the flexibility of selling it for a profit. Buying later will have an opportunity cost in this case.

4. If you were to buy first, you will also need to pay the Additional Buyer Stamp Duty first and will be given the a 6 months window to sell off your current property upon the TOP of this new property. Nobody can predict the market movement, if the market trend downwards, you may be at the mercy of the market forces and the short time frame to sell your property to recover the ABSD.

Ultimately, it depends on your financial situation, time line and objectives. Please feel free to contact me so that I can understand your situation better and provide you with further assistance!

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

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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 is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“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)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”

Mr and Mrs Chan (Sold and Bought a property through Nick) Read More

Hi,
Thank you for sharing the option.
1. Sell first and rent, financially this option will avoid you from paying ABSD, increase the max loan up to 80%. But the negative side is you will have to pay rental until your new property is ready.
2. To book a unit first and sell later, ideally this is the best method. Generally developer will not accept, but can try. Please drop me an email for me to share the option.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More

Hi Sir,

I'm pleased to let you know that your problems can be easily solved!

Like how I guided a few of my clients who shares a similar concern as you, I can also assist you in having a smooth transition to your new place, without the hassle of moving house so many times.

Please get in touch with me. We shall take our discussion further from there.

Should you need any 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 and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More