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Hi I own a condo currently and I'm looking to upgrade to another condo. However I'm cash strapped. Am I able to contra the transaction such that I don't have to pay 5% cash and 15% for upon purchase first? Can I wait till I managed to sell my house for the funds to be in for use?
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5 Answers

Hi,

May I know if you are looking at brand new or resale condo? The payment schedules are a bit different for both. You can't really do private property contra, typically owners will try to sell first and receive the funds first and time the purchase to complete later.

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)
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Dear Sir/Mdm,

You can time the sale and purchase in a way that you will be able to reuse the sales proceeds and CPF refunds towards the purchase of your new unit.

I have assisted some of my clients who are in a similar situation as yourself to transit smoothly from their previous place to the new place by minimizing the cash outlay.

Please feel free to contact me so that I can understand your situation better and propose an upgrading plan to cater to your situation.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg
I was featured recently on Council for Estate Agencies (CEA) Newsletter:
https://www.cea.gov.sg/docs/default-source/module/newsletter/3-2017/bouquets-for-property-agents.html

Testimonial from Satisfied Clients
“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”

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We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
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Joanne Chia 谢诗琳
Good day Sir / madam

Assuming you are cash strapped and also to avoid paying the hefty ABSD , you will have to sell your present condo before committing to another condo .

To minimise the inconvenience of you having to shift twice and also to allocate a month or so for your next home renovation , you might want to negotiate with the buyer of your present condo to grant you few months extension stay after your present condo sales completion , please note this is subject to negotiation and most buyers might not be keen with your additional condition.

Alternatively you can consider a straight forward sale , thereafter , stay in a rental property for a few months while you buy your next condo, this move also serve to accommodate a month or so for your your next condo renovations .

However , If your present condo is extremely cluttered , it might actually be better to vacate and de-clutter your present condo before attempting to sell it , meaning shift to a rental property before selling your condo .

Feel free to contact me Joanne Chia hp +65 8333 3327  for a no obligations chat for your property needs.

My charges are 1% commission for exclusive ( sole agent ) selling rights to your property, or 2% for open listing ( many agents ) .

NO COMMISSION CHARGEABLE WHEN I SERVE PRIVATE PROPERTY BUYERS.

Joanne Chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More
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Robbie Chen Chee Howe
Hi,

This is very much possible. In fact, I had just helped a client did just that. You will need to have a proper timeline planning for the sale and the purchase, to ensure a smooth transition to your new place.

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 in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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