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Hi,

Both my wife and I (34yrs old) are SPR. We own a 5I rooms HDB in Senja, Bukit Panjang which MOP 1Q next year with outstanding loan at approx 330K. We have no other outstanding car or credit loan. I am the only income with monthly income of 7500 a month. We have approx 250k cash on hand and approx 50k in OA CPF account.

We are looking for upgrade to private property and sell our HDB with the following criteria:

1. Price range: 1.0 to 1.2 million
2. Location: D20/21/22/23/26 or nearby
3. Dual Key Unit 2+1 or 3+1
4. Area: min 800 sqft
5. School: flexible but good if there is primary school within 1km
6. Transport: flexible but good if within 1km to MRT
7. Construction yr: TOP 2016/17 or completed project
8. Level: optional
9. Tenure: optional

P.S: My family is stationed overseas for a couple of years. Hence, the unit will be for investment at the moment but eventually for own stay.
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4 Answers

Afternoon,

In order to assist you further, I would need to know if you are selling your HDB unit first before getting your private property or otherwise.

Do contact me further for detail discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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  • WT
    Thanks Mike for you reply,

    Ideally, we would like to sell our HDB only after we purchase a private property but it must be financially viable to avoid any additional paymnent (stamp duty, etc) as we are both PRs.
Hi there,

Thanks for your query!
Before expediting and assisting further, I would need more clarity on the finances for purchase. Will you be selling off your HDB to fund the private property purchase or purchasing your 2nd property whilst renting out your HDB unit? Either case, as a preliminary discussion, it would be ideal to meet up for a comprehensive discussion- so that I can understand your requirements and finances to draw up a progressive payment plan with timeline and link you to my network of bankers to assist with the IPA. Furthermore, this will give me the opportunity to run you through recent transaction caveats in chosen districts and present a sales report to narrow down options within the stated areas. Hope to hear from you! Thank you.

D Kumar

+65 96659926 

ERA Associate Division Director

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  • WT
    Hi Kumar,

    Ideally, we would like to sell our HDB only after we purchase a private property but it must be financially viable to avoid any additional paymnent (stamp duty, etc) as we are both PRs.
Dear buyer,

Thanks for furnishing the detailed information . As you have outstanding loan for your current HDB, you will only be eligible for up to 50% loan maximum if you opt to purchase before the sale, therefore assuming that you have miscellaneous funds not declared above for the legal fees, you will need to cough up 50% cash plus CPF on top of 10% Additional Buyer's Stamp Duty and 3% normal Stamp duty, of which the amount you have upfront is definitely short for the purchase.

Your most ideal scenario will be to make your offer and put in a deposit for a unit you like and request for extended Option Period to sell your existing HDB in order of avoiding the above cash requirement scenario. Nevertheless, it is perhaps not to the sellers' interest to accept offers which requires extended option period since their concern would be missing out on potential buyers who may look at normal transaction such that they can move along in control of situation.

I will highly advise you to look into the sale first and fast to capitalise on the current low prices for purchase and with the prospects of increasing interest rates,,to lock in your home loan at the still low interest rates. Let me know if I may assist further.

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Regards,

Geryl LIM
Real Estate Director
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  • WT
    Thanks for your reply and advise.

    Based on our financial situation. We will sell away our HDB before acquire a private.
GAN ENG JOO ONASSIS
Hi,

Re: One Stop Services for SG properties

We can assist you based upon your stated contents. We also can call you at your overseas no if any.

Tell us more about your requirements with locations, we can explore further in detail.

We are contactable at 92222389  or onassis@sgrealtor.com.

Onassis Gan Eng Joo - CEA Reg No.: R021244C
CES Certified SG Realtor l SGRealtor.com
agent.myweb.sg (PropertyGuru) / agent.irealtor.sg (iProperty)

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