Good morning,
Thank you for the enquiry. Definitely doing both the sale & purchase concurrently will help the situation. It depends also on the perceived difficulty of your sale & purchase transaction. If the location you like to move to is in a mature area and has hardly any units available at any one point of time, in this instance I would recommend to do the purchase first and use the bridging loan option. Reason being if missing the unit it could take a few more months before a suitable unit is put up for sale for your consideration.
However if the next property you are looking at is not that difficult to find based on the requirements, and if the current place is not as easy to sell (for example facing ethnic quota restriction), it will be prudent to secure a buyer first before exercising your purchase OTP.
For question 2, for the purchase any major cash payments are all required only at hdb completion appointment towards the end. Hence, the sale completion needs to be completed first before the purchase (so the sale proceeds can come back in time to port over to your purchase completion). Usually extension is required and I will help the sellers to negotiate a suitable timeline.
I have helped several sellers do the concurrent sale & purchase and are quite well versed in such a scenario. They have left reviews and I am happy to share more on my experience how best to do a smooth transition for your family as well. Short video of their feedback below :)
https://www.facebook.com/ASAProp/videos/2838583429535183/
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 Realtor
ERA Senior Marketing Director
ERA Diamond Achiever
ERA Top 15th Achiever in April 2019 (Top 1% Company Level)
ERA Top 86th Achiever in Sept 2019 (Top 2% Company Level)
ERA Top 600 Achievers in Year 2017 (Top 10% Company Level)
ERA Top 300 Achievers in 3rd Quarter 2017 (Top 5% Company Level)
SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.
Contact:
(+65) 97432395
Email: Ivanng10@gmail.com
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W: ivanng10.com/clientreviews
(Client's Testimonials)
**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **
- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --
I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan.
-- HDB Jurong West 5-RM Sellers, Exec Apartment Purchasers, Lenz & Michelle --
We would like to thank you for ensuring a smooth and well-explained process throughout the whole selling and buying of our property. We got to know you thru Property Guru, where we are scouting for condo around West area. We remember that we are quite tight in our budget in purchasing the condo unit,but you are still very willingly explaining and calculating our financial liabilities. You are always having your smiles whenever we met for discussion.
We appreciated your process of selling and buying of our property are very systematically and well executed, from financial calculation to the purchase procedure of our new house. We are always being updated thru our group chat during the engagement of your service.
We would never expect such a smooth sailing experience of selling and buying of property. Your professionalism in work will definitely be remembered and rewarded. All the best in your property venture!
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