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Hi All, Current HDB flat is fully paid and looking at EC, but not keen to sell and rent for 2 years + just to pay for the down payment to secure the unit i want as i have kids and my combined CPF with my wife is insufficient. What are the available options for me in such a scenario?
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5 Answers

Hi Thomas,

EC are very attractively priced and if you are eligible to purchase an EC, you should grab the opportunity and upgrade. There is no walk around for this situation but you can consider moving to stay with parents or in laws so as to save on the rental. The hassle of moving will definitely be worthwhile in the long run.

I have assisted quite a number of clients who are in similar situation before. Please feel free to contact me so that I can share with you more and assist you further.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020
Visit my website to know me better: www.nicktan.com.sg

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

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“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.”
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Mr & Mrs Tan (Seller of Inter-Terrace House) Read More
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Hi Thomas,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, there isn’t much option in your case except to camp with your parents or in law’s place for the time being.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Hi Thomas, do contact me at 97970200  to discuss more on your situation.

Mark, your RIGHT choice
Propnex Read More
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Hi Mr. Thomas,

1) In order to purchase any property conduct a financial analysis is absolutely necessary.
2) Your mentioning of combined CPF is insufficient really bothers me a lot.
3) To upgrade to EC, they will take into consideration that you have to dispose of your HDB within 6 months upon key collection. Thus bank will support with a 75% loan.
4) Your income will be assessed with MSR to determine how much you are able to get.
5) Let's assume you are able to receive the 75% loan you wish to get, you have to ensure you are able to pay the 25% downpayment.
6) If everything went well as a highlight above, you may apply for deferred payment for EC purchase so that you don't have to service both mortgage loans.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Hi.

There's an bounce out unit 3 bedroom premium at Piermont Grand. Available on first come first serve basis. Please contact 97432395  for more details thank you.

Regards,
Ivan Read More
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