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Hi,

I'm thinking of upgrading my current unit to a larger unit. Wonder if there's a possibility of selling my current unit and at the same time buying the larger unit so as to reduce the cash outlay by means of a bridging loan and skip the 40% measure.

I know that it is about timing the sale and pruchases. But the key here is time and knowledge. Wonder if there's any agent who is willing to take on. Thanks
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1 Answer

Johnny Goh Mui Huat
Replied
Hi Surgeon,

Presently, it is possible to skip the 40% measure if you are taking bridging loan. However, the bank will expect you to sell your current properties at the same time or before you buy.

You still need to come up cash for the initial 5% and stamp duty. The lawyer will refund you the stamp duty in cash once they deduct the amount from your CPF account.

I am willing to take up this challenge, please contact me so that I can explain to you all the details.

Thanks and Regards
Johnny Goh
Group Director
Dennis Wee Realty Pte Ltd
CEA registration number R018297H
Mobile: 90906267 
Email: johnnygohmh@dwg.com.sg
Website: johnnygohproperty.com Read More
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