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Hi Professionals,

Problem scenario – HDB BTO’s MOP is going up this year and I have interest in an EC Launch.
What solutions will there be if I would like to participate in trying to purchase an EC unit during launch if;

- I don’t have enough cash on hand for the initial housing payment of 15% because I still have my HDB on hand

- I don’t want to sell my HDB to pay upfront as I will need to move out of my current place

- Income ceiling already cross the boundaries of 14K but not outrageously out of range

What options are there for me?
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3 Answers

Hi,

Its tough as the downpayment of 25% is required (5% cash 20% cpf OA) within 2 months after booking. Also exceeding the income ceiling an appeal is required.. Might consider resale property instead?

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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SMU BBM (Finance), Magna Cum Laude
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-- HDB BTO 4rm Sellers at Sengkang, Jonathan & Abigail --

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-- HDB upgraders to New EC owners Mr. & Mrs. Goh --

My unit was marketed by another agent back in Q3 2017 and after more than 3 months, there wasn’t any offer. I almost lost hope and thankfully I made the right decision to switch to Ivan. Through his hard work, perseverance & commitment, my unit was sold by Q1 this year. Would definitely recommend Ivan’s services to any potential sellers out there. Read More
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Dear Sir/Mdm,

Unfortunately, there is no other way to go around the initial cash and cpf outlay required to purchase an EC. Some of my clients will sell their HDB and stay with their parents or rent an interim place to stay while waiting for their new EC or Condos to be ready.

The new ECs are priced quite high due to the high land prices. In the future, upside may be limited. In my opinion, you may want to consider new condos which are more attractively priced and have higher upside potential.

Please feel free to contact me so that I can understand your situation and requirements better so that I can give you more informed recommendations.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

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“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
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