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HI,

We are a couple who want to upgrade from condo to landed.

We intend to buy, and then sell first one within 6 months (to get back ABSD). However, if we do it this way, is the only way to come up with 50% of second property loan? We have young children and do not intend to market the first apartment while still staying, only after we move out.
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9 Answers

Robbie Chen Chee Howe
Hi Sir/Mdm,

There are many ways to ensure that you have a smooth transition from condo to landed.

Please give me a call at my mobile 9748 6305  to discuss further. I hope to understand your situation in depth, so as to provide you with the best possible solution I can think of.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Dear upgrader,

You are right in that the only possible way moving forward will be to be eligible only for 50% loan. If this is a big issue, then you may need to make adjustments to your upgrading plans. I am unsure what your concerns are in selling your place first. I am currently handling a similar case like yours and are working closely with the bankers to see if we can structure anything within the regulatory framework.

Let me know if we can get in touch.

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Geryl LIM
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J.A. Goh 吴永益
Hi Owner,
Another way you can do is market your unit for sales first. At the same time search around for your landed. I have done many such cases whereby we do a sell and buy at the same time. This way you need to get 3 months extension for your unit upon selling, so the 3 months you can renovate the new house before shifting over and then pass your current house keys to the new buyer.
This can be done smoothly with any difficulty when you engage the same agent. Let me know if you want to understand more about a smooth transaction method. You can contact me for a in-depth discussion or email.

Kind Regards
J.A.Goh
ERA Branch Division Director
HP: 96390350 
Email: gohja@singnet.com.sg Read More
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Hi Sir/Mdm,

I have clients in similar situation. I will recommend for you to secure a buyer who is willing to rent the unit to you after the completion until your landed property is ready for occupation.

As for the loan, you may apply for a bridging loan once you have secured a buyer for your property. The timeline needs to be plan properly for the sale and purchase so that the transition process can be as smooth as possible!

Please feel free to contact me if you need any assistance.

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

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“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.”
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“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted 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.”
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“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!!”

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Hi,
While you are still holding the current condo, the max loan quantum will be at 50% of the valuation.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More
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Robbie Chen Chee Howe
Hi,

I have a proposal for you, where you might be able to get up to 80% loan for your next purchase, if that's what you prefer.

Do contact me at my mobile 9748 6305  . I will be happy to share.

Thank you.

Best regard,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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YT Tan (陈永达)
Good evening upgrader,

you should put up your unit for sale first. Request for a longer completion period or an option to rent it back from your buyer so you will have a smooth transition to the landed.

You can start sourcing for landed during the marketing period of the sale. Secure it upon the buyer exercise the OTP for your sale. Request for the shortest completion period so you will have more time for renovation and shifting over.

By doing so, you can avoid the need to fork out ABSD, 50% downpayment due to outstanding loan and find a temporary accommodation for the transition.

I have assisted a few clients with such situations before. I hope you will be one of my beneficiaries as well!

Just to share!

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Click this now: http://goo.gl/Gg5pe3!

Join me on board towards a hassle free update on valuation now!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

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GAN ENG JOO ONASSIS
Hi,

Feel free to engage me as your agent. I can assist you based upon your stated contents and walk you through the entire process with options.

Call me now, we can explore further in detail.

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