AskGuru Q&A Community

Morning Amanda,

We would need to understand how much is your property worth and how much loan can bank disperse to you for the purchase. The CPF funds in your OA account and those that have being locked in can also help to make your purchase more feasible.

Do contact me further should you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi Amanda,

If you are SC and have met MOP of 5 years, you can purchase a 2nd residential property. To have a understanding of the feasibility of the upgrade, may I know where is your current property location and your intended condo project? This is to estimate both properties selling prices so to see how much downpayment we can use to facilitate the transition. As it appears you may need to sell first to unlock the funds for downpayment, some planning of the timeline and financials are required so to ensure a smooth transition and you need not move twice and minimize the stamp duties costs

Thanks and hope to understand your requirements further so to make better recommendations and value-add further to your plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

Good morning Amanda,

Do you intend to hold on to current HDB and purchase a condo or do you intend to sell HDB and purchase a condo?

To proceed with either option, you must first fulfill minimum occupation period.

If you are going for option 1, your household must have at least 1 Singaporean. As you have outstanding loan, you can only loan up to 50%.

If you have utilised CPF OA funds in your current HDB, you have to set aside a minimum sum of $80.5k in your CPF OA + SA before you can use the excess CPF OA funds.

Lastly you will be subject to ABSD of 7%.

Whereas if you sell off your current HDB and purchase a condo, you wont be subject to so many restrictions. You can take up full 80% loan, use all your CPF OA funds and no ABSD payable.

To make your upgrading plan a smooth transition, we must make sure this plan make sense financially.

Hope my sharing is beneficial in your upgrading plans.

May I know how can I continue to value add in this purchase?

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com Read More

Hi Ms Loh,

For your situation, I would advise you to sell your HDB and purchase a private condo. The private condo that you should be looking at should be either a resale one or one that has just TOP or going to TOP. This will ensure that you will be able to enjoy a seamless transition from your current HDB to a private condo.

However, if you are open to renting a place or staying with parents or relative during the interim period, then it will be more flexible as you can look at even new developments.

It is important to work out your finances ie how much loan you and your husband will be eligible for and draft up a comprehensive financial plan so that you can plan for a budget which is within your comfortable level.

I have assisted many of my clients to upgrade from their HDB to private condos. Please feel free to contact me so that I can assist you to draft up a financial plan and guide you through the upgrading process.

Testimonial from Satisfied Clients (2015/2016)
“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer of HDB)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer of HDB)

“Nick from Property Avenue has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Hi Amanda,

Your current description of finances is too vague to provide more concrete and noteworthy advises, simply because it is only the financial aspects. I am unsure if considerations about your family, lifestyle requirements will play a significant part of your decision making, especially if you have young children where school (now or future) or living with or near parents would be important. More like that intangible values which could provide a better quality picture for me to understand how I can better manage your portfolio before listing out the different probable solutions.

Claim your free home report today at http://bit.ly/ClaimFreeReport.

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop/

New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/

My self introductory video on https://youtu.be/6UfrCOCB6Mg

Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

G.A Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now! Read More

Good day miss Amanda

Kindly contact me for a no obligations chat for your property needs .

My charges are 1% commission for exclusive selling rights to your hdb , or 2% for open listing .

No commission chargeable when i serve private property buyers .

Joanne chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More

Hi Amanda,

Re: Our Preferred SG Professional- Agent.myweb.sg & Agent.irealtor.sg

Recommendation to consult an banker to advise you on the property that you will be prudent to purchase.

Feel free to engage me as your agent. I can assist you based upon your stated contents and walk you through the entire process with options.

Call me now, we can explore further in detail.

I am contactable at 92222389  or onassis@sgrealtor.com / sgagent.com

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

Onassis Gan | R021244C | SG Professional l SGRealtor.com & SGAgent.com
EXPERIENCED. PROACTIVE. SINCERITY. FEEDBACK
ACTA (Full); PDCE (Singapore); MSc BIT(Middlesex); BBA (South Australia)

Featured Realtor Services recognition by SGReview.com and SGBride.com

Singapore Line : (+65) 92222389 
Malaysia Line: (+60) 111-0788889
Email: onassis@sgrealtor.com / sgagent.com
Skype: incomecare

Our Clients' Success Is Our Success
“Clients’ always at ease putting their properties with us”

Our SG Professional Services Youtube

Commercial - https://www.youtube.com/watch?v=brxduV0p85o
Residential - https://www.youtube.com/watch?v=eoMGp5nmSuI

SG Professional with presence that memorable at SGRealtor.com, SGAgent.com and SGAgents.com.

Do what the 99.99% won’t do, PLAN AHEAD TO A SUCCESSFUL TRANSITION INTO REAL ESTATE

Upcoming 2016, we are in the progress to create property portals to serve our SG clients better.

www.HiSingapore.com –Singapore Housing and Commercial Property Guide
www.Listing.sg – SG Properties Listings
www.CommercialSingapore.com – Commercial Listings
www.SGHouses.com – Residential Listings
www.Showsuite.com – SG Developer Projects Listings

SG Commercial Websites
www.SGCBD.com
www.CBDSingapore.com
www.SingaporeCBD.com
www.SgOfficeRental.com
www.SgShophouse.com

SG Landed Houses Websites – www.LandedGroup.com
www.SGGCB.com
www.SGBungalow.com
www.SGDetached.com
www.SGSemiD.com
www.SGTerrace.com
www.SGCluster.com

SG Districts Websites
www.BukitTimah.com.sg
www.Holland.com.sg
www.MarineParade.com.sg
www.sentosaisland.com.sg

Overseas Website
www.NewLaunch.my - Malaysia
www.PropertyPh.com - Philippines
www.VNProperty.com - Vietnam Read More