Asked by
I am currently staying in the EC, The Eden at Tampines. I have checked and found that selling price of my unit is in the region of $1 - 1.1mil. I still have 200K loan outstanding. I am looking to upgrade to a freehold landed property at around $2mil. In order to be entitled to the 80% loan, I assumed that I have to sell off my property first before buying? In such a scenario, what are the options I have other than to stay in the streets while I hunt for a house?
0
1119 views
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

4 Answers

HI, suggest that you sell and rent for 1 year. while you are searching for the landed house. that will be the best option. rahman Propnex 92726368  Read More
0
Evening David,

You can get your salesperson to talk to your prospective buyer and request for rental of your unit, at a price or on Goodwill, for around 3 months.
You can include it into the OTP and aspart of the negotiation.

Do feel free to contact me if you require further assistance.

Regards
Mike Lim
 96929209 
ERA Read More
0
Mr Chua,

May i request you to write me on realproperty63@yahoo.com.sg and i shall write back on how we could work in the above scenario.

Regards,

Radhika Prakash - DTZ Read More
0
Hi David,

Question for you:

Are you looking to purchase a landed property which is freehold with $2m budget and that this property needs to be in move-in condition?

Before you embark on anything, my advise is to study the market for the area which you are intending to buy a panded property, understand the probable price you are looking at and work out your finances accordingly.

To be honest with you, if you are looking at $2m freehold landed property in the east, it'll be pretty challenging for you but let's put what I have mentioned above to action 1st. I have been actively serving owners and buyers for landed property in the east therefore I believe I am able to assist you to your requirements.

You may explore with the banks on the possibility of getting a bridging loan for your purchase since you are looking to sell your existing unit.

Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More
0

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Previously Asked Questions