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Hi Pro,

Both of my wife and me are PR (Malaysian). We stay in JB, thinking to invest in small condo in SG. Here is the scenario:

1. Our combined ordinary account has 120k now. Cash on hand 20k

2. Currently we use most of our salary to repay my JB homeloan(4.45% interest), if we just pay the minimum amount, we have have SGD2100/month to spare.


Question,
1. Are we in a position to invest in small condo?
2. If I plan to invest in a 600k condo, how much cpf and cash do we need to prepare?
3. If the rental from the condo is sufficient to pay for the installment?
4. How easy is the rent out a small condo? How much is the processing cost (agent fee, and any other fees?)

Thanks in advance for your kind input!
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4 Answers

Good morning,

As you have existing mortgage in hand, you might not be able to obtain 80% loan for the purchase. Hence it would be good to work on your feasibility assessment before moving forward.
Once we have worked out on the figures, we can then obtain the other necessary figures.

Do feel free to contact me should you require additional assistance.

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

In view of your current financial commitments, it is actually more prudent for you to speak to a banker to ascertain your comfort level in terms of financing an additional housing loan in Singapore as well as your eligibility to undertake a housing loan here in Singapore.

If you need a contact number to call and verify, you may get in touch with me in private such that I can pass you a number to contact. I will not be notified for any responses posted on this thready therefore do get in touch with me in private if you are comfortable to bring this matter forward.

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

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Regards,

Geryl LIM
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Global Alliance Property (L3010679B) - Century 21
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Robbie Chen Chee Howe
Hi,

Based on your current finances, it is be abit too stretched for you to get a $600k condo at this moment.

It will be advisable to practice financial prudence. Nevertheless, it is good to speak to a banker to assess your financial standing on how much you can loan before taking any further steps forward.

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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GAN ENG JOO ONASSIS
Dear Buyer,

Re: Today’s SG Professional Choice- SGAgent.com & SGRealtor.com

Pls obtain an IPA from the bank first as the financial status u mentioned seem to be tight.

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

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