AskGuru Q&A Community

Hi,

1) Theoretically it is 1 day before your start date.
2) But to be on the safe side, I always only advise the client to offer an OTP on the same date.
3) For example, you received your SPR status on 1st May 2019, I will prefer the OTP to be dated on 1st May 2022.
4) You will have to give yourself 3 months to find your ideal home so that you don't have to rush into it.
5) Get an IPA from various banks to determine which bank you like to deal with. Although many agents always get all the banks to prepare the LOO (Letter-Of-Offer).
6) But if the bank wanted to play hush, they can demand a penalty should you reject the LOO in the end. If you rejected 5 banks, each bank demand a $1,000 penalty, you will get yourself into trouble.
7) Therefore I will advise clients to get IPA from many banks and get the bank rates they are offering to decide which bank they will ask for a LOO when an OTP is issued.
8) Once the budget is confirmed, we can do a desk-top search of the desired property so as to save on the leg work and time.
9) Perform market analysis before dashing out to offer. Get the right offered price instead of trying to negotiate from the asking price.
10) Note that you can only register an "Intent to buy" when you have fulfilled the 3 yrs wait-out period.
11) Using the same example (3), you can only register your intent to buy on 30th April 2022. You can also register your intent to buy on the 1st May 2022 when you received your OTP.
12) All the above is assumed you are 100% confident you are eligible to buy, otherwise, if the intent to buy is rejected. You won't be able to get back your deposit.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

Note:
Any response to our answer does not reach us.
The best way to get a follow-up is to Whatsapp or email us directly. Read More

Hi

You may view anytime however, the option to issue will have to be on the day your wife have reached 3 years.

I would suggest that you start the viewing process 2 weeks before your wife reach the 3 years timeline. The reason is that you will not be able to get any option prior to the timeline. Besides, transaction is usually base on first come first to buy. Seller will not likely to wait unless you are prepared to offer a ridiculously high price.

From my past experience with SPRs, most will be able to decide on a flat within 2 weeks or a month. This is because of the experience of renting a flat which apply to buying a flat. As such I don not think you need 3 months to find a place.

You may text 9620 0827  for a casual chat. We can share the market situation, transaction process., timeline and timeline and an estimated financial statement for the purchase.

Warmest regards

Gavin Read More

Good evening,

you can start to view in april and confirm an unit on may 2022 (the exact date you turn SPR for 3 years).

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

Contact:
Mobile: 91115171 
Email: yt.tan91115171@gmail.com

Do follow me on:

IG: instagram.com/propertykaki
FB: https://www.fb.com/propertykaki/
YouTube: https://bit.ly/Youtube_PropertyKaki

To find out what’s the estimated valuation of your existing house, try our SRX property tracker.

You will receive free sms update on a monthly basis.SRX property tracker: http://bit.ly/yt_proptrack Read More

Hi,

Do take note that if both you and your spouse are SPRs, both of you will need to fulfill 3 years of SPR before being able to purchase a resale HDB flat. If either of you is a Singapore Citizen, you need not wait for the 3 years period.

If you're only eligible to purchase in May 2022, it is not too early for you to search. You can start to prepare yourself after Chinese New Year next year.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require 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

Hi,
I would be glad to assist you.
Feel free to contact me @ 97100155 
Hope to hear from you soon
Pei ERA Read More