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I plan to downgrade from a larger private house to a smaller unit, is it possible to perform a contra without having to folk out any cash? What is the best plan to bridge between sales and the new purchase at minimum cost in terms of cash outlay?
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1 Answer

Wilson Lai You Xun
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Hi,

Since you are talking about 2 private properties, the "contra" way is to secure a bridging loan up front.

As your intention is to downgrade from a larger unit to a smaller one, there should not be any problems for the bank to grant you one.

As with most bridging loans, you'd probably get 6 months to take care of your buying & selling ... if you have more questions, just get in touch with me to arrange for a more detailed but non-obligatory discussion.

Wilson Lai
PropNex Realty

+65 81233933 
wilsonlai@propnex.com
www.wilsonlai.myweb.sg Read More
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