AskGuru Q&A Community

Hi Sarah,

If like you mentioned, that your Mom's condo's mortgage loan is under your name, then you are also deemed to be the co-owner of the condo. This is because MAS states that all borrowers are also owners of the property.

If this is the case, then I'm afraid that you are not eligible to purchase a brand new EC from the Developer. To be eligible for a brand new EC, you will have to meet all the eligibility conditions, one of which is not to own any private properties for the last 30 months. Other eligibility conditions include forming a valid family nucleus and household income not more than S$16k.

Based on you current situation, you could however purchase a resale EC or private condo. However, do that note that ABSD and LTV applies.

I am experienced and well-versed in both private and HDB resale transactions. I will be able to assist you in your housing 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

Good morning Sarah,

my OCBC banker said you are unable to take up any loan for EC purchase BUT DBS banker said there might be a chance. So you are under old guarantor scheme and not a BORROWER?

#staysafe

YT TAN 陈永达 | ACCA Graduate, RES
R043025D
Propnex Realty Pte Ltd

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W): www.yttan.com

Follow me on:

IG: instagram.com/ytpropnex
FB: https://www.fb.com/yttanassetprogressor

-> Find out your property value for FREE on a monthly basis. Simply sign up by clicking the link below:

http://bit.ly/yt_proptrack

Creative marketing (copy and paste URL) :
1) https://www.facebook.com/watch/?v=395750131215921
2) https://www.facebook.com/watch/?v=290515518310711

"Build Legacy, Comfortable Retirement"

*Transforming my clients' lives*
*Wont let your hard earned money to go into waste*
*Let your money works harder for you*

#sgrealestate #realestate #sg #sgproperty #property #privatehousing #landed #condo #apartment #publichousing #hdb #propnex #png #lawrenceteodivision #yttanassociates

Accolades:

Propnex Annual Convention 2019 - Top 3% individual producers
3rd Quarter 2018 - Top 2% individual producers
July 2018 - Top 1% individual producers
2nd Quarter 2018 - Top 3% individual producers
1st Quarter 2018 - Top 3% individual producers Read More

Hi Sarah, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead. By the way, may I refer you to some of my bankers from various banks?

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi Sarah,

Buying a brand new EC would need you to satisfy strict criteria such as forming a family nucleus and not owning any properties for the 30 months prior to the purchase. As you are the guarantor for your mum's condo, you may not be eligible.

You may want to consider private properties instead as the gap between an EC and private property has narrowed significantly and has less restrictions when it comes to selling in the future.

Please feel free to contact me so that I can understand your requirements better and provide you with solutions.

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 Sarah,

The critical consideration here will be ownership of your mum's condo. Are you a co-owner or you are just a guarantor under the old scheme?

If you are not an existing owner of a private property, you maybe eligible and I'd say you can give it a shot to try out, as long as you fulfil all eligibility criteria to purchase a brand new EC. Do take note that your income will also be subjected to assessment based on the credit bureau status therefore it will be prudent to speak to a banker and do up an in-principle approval of loan first before proceeding to next stage.

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 client's 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 first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
-----
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
-----
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 Sarah, Do contact me at 97970200  to discuss more

Mark, your RIGHT choice
Propnex Read More