AskGuru Q&A Community

Morning Yappy,

If you are SC, you are eligible for purchase of your second property without selling your current property. With existing mortgage in hand, you will only get 50% loan where 25% have to be paid in cash. Let's say your current unit is fully paid, you will theb be eligible for 80% loan. Do note that you will also be liable for 7% ABSD.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Dear Yappy,

Do you need the funds from the current sale of your HDB in order to purchase the EC?
If Yes, my advise to you is to start marketing your current unit for sale as the entire process for a resale HDB transaction takes about 4-5 months.
We can also start viewing your next ideal purchase when buyers start viewing our HDB.
We will only commit to the next purchase when there is somebody who has committed to our HDB.
This manner will save you from monies issue, reckless selling and a temp shelter to relocate.

Regards
Michael Kwok
 8113 1360  Read More