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Dear Reena,

Thank you for writing in. Assuming you have no existing debt or financial commitments, basing on your $8,500 monthly income for self employed, your loan eligibility after subjected to 30% haircut is in the range of $795,000 over a loan tenure of 30 years considering interest rates at 3.5% high, therefore if you are working out on $700,000 option for a 2 bedroom unit, the price quantum is within affordability assuming that you have the 25% cash and CPF for the downpayment as well as additional 3% for stamp duties assuming this is going to be your first property. Nevertheless, basing on the existing supply available, you may not have many units within the more desirable locations or specifications for considerations. I can run through a list of potential units for your considerations if I can understand more about your requirements?

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my clients’ portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary 45 minutes first consultation without obligations (Absolutely FREE!). Visit http://bit.ly/FOC1stConsult to schedule your FREE session today!

Note: We value your home as much as you do! Find out the indicative value of your home at http://bit.ly/UrHomeMatters and get monthly update on your home value. Restructure your portfolio with us, speak to us!

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

Visit and Like my facebook page at https://www.facebook.com/GerylLimSince2009/ - Aspiring To Be The Best Real Estate Agent In Singapore

Pick up knowledge, skills and Real Estate concepts at https://www.facebook.com/RealEstateXcellence/

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://www.youtube.com/watch?v=uZ6REQfdGSw

Regards,

Geryl LIM
Consultant
**Aspring To Be The Best Real Estate Agent In Singapore
Century 21
CEA Reg R014783H
www.geryllim.com
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ http://l.ead.me/7772 Read More

Hi Reena,

It is good to start investing in real estate early and you seem to be in a good position with your income. The cost breakdown of owning a property is as such based on 700k:

5% Cash - $35,000
20% CPF - $140,000
Stamp Duty - $15,600
Legal Fee - $2,500

The balance 75% can be in the form of bank loan. Please feel free to contact me so that I can draw up a financial plan for you. Based on your income, you should be eligible for a max loan amount of about 1 mil. I can also share with you some of the projects which have good upside potential so that you can exit the investment easily in the future!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

I have written a guide on buying Residential Property:
http://bit.ly/buypropertyguide

Testimonial from Satisfied Clients
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited 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)

“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)

“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 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 Reena, do contact me at 97970200  to discuss your options

Mark, your RIGHT choice
Propnex Read More

Hi Reena

You may call 9620 0827  for a casual chat. We can share with you the transaction process, timeline and do a Pro-forma financial Statement.

Regards

Gavin Read More

Hi Reena,

The maximum loan you could get for a property purchase is up to 75% of the property price (or valuation, whichever is lower), subjected to TDSR requirements.

Hence, downpayment for a $700k property would be $175,000, out of which $35,000 has to be in Cash. The balance can be paid from your CPF.

You will also need to pay Stamp Duty, for a $700k property works out to be $15,600. This can be paid using Cash or CPF.

Other miscellaneous fee include legal conveyancing fee and mortgage stamp duty etc. This should be approximate $2k.

As you're self-employed, your income will be subjected to a 30% haircut when taking loan. This is a requirement set by MAS.

I am experienced and well-versed in both private and HDB resale 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

Thank you for writing in. Assuming you have no existing debt or financial commitments, basing on your $8,500 monthly income for self employed, your loan eligibility after subjected to 30% haircut is in the range of $795,000 over a loan tenure of 30 years considering interest rates at 3.5% high, therefore if you are working out on $700,000 option for a 2 bedroom unit, the price quantum is within affordability assuming that you have the 25% cash and CPF for the downpayment as well as additional 3% for stamp duties assuming this is going to be your first property. Nevertheless, basing on the existing supply available, you may not have many units within the more desirable locations or specifications for considerations. I can run through a list of potential units for your considerations if I can understand more about your requirements? Read More

How's it going Reena?
This is Dan here from Huttons.

From your age and income, most banks could potentially loan you up to $795K, assuming you have no other debts/liabilities.

Assuming you have the necessary savings in CPF OA and Cash, you are looking at around $1.05m property.

2br for $1.05m, there are a lot of good options in the market, and i've a few in mind that is good for both own stay and investment :)

Would love to meet up with you to go through all the calculations step by step and also to better understand what you're looking for.

Hope to assist you in this journey of home searching :)

PS: no commission from buyers for private residential properties!

Dannie Han
Huttons Asia Pte Ltd

M: (+65) 9677 2611 
W: danproperty.sg
IG: danpropertysg
FB: danpropertysg
E: danpropertysg@gmail.com Read More

Hi Reena, you may contact me for further discussion. Thanks!

Shoan 98216829 
OTT Read More

Hi Reena,

I can always assist to work out the details for you and also assist you in looking for the property that you want. Drop me a message @ 81184108  .

Regards,
Nicholas
OrangeTee Read More