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Hi, I actually hv a fully paid HDB and a condo that is still paying loan payment. I am intending to sell my condo and purchase a new condo. I will like to know what is the cooling period that I need to decide on the loan % as I am trying to sell away my existing condo? Basically I do not want to be in a situation that my new condo will be considered as 3rd property. Please advise what is the best option, should it be better to sell off my existing condo then consider another condo or can do con-currently?
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1 Answer

Mike Lim
Replied
Morning Lily,

Under the current ruling, as long as you can produce the OTP for your sales, the next purchase will be considered as your second property. The current issue would be: DO you need profit from your sales to proceed with the purchase and how much can the bank disperse to you?

This would result in the difference on the required steps of action.

Do feel free to contact me if you require further assistance.

Regards
Mike Lim
 96929209 
ERA Read More
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