AskGuru Q&A Community

Good morning Mark, Let me ease your concerns. 1) If you choose to DIY your purchase, you don't have to pay any commission to the seller's agent as according to CEA regulations, we can't dually represent both parties. Secondly, you have to do all the paperwork yourself. My advice is to find a professional salesperson like us to handle them for a smooth transaction. 2) You can find a sole agent to handle your property sale and HDB purchase. Commission can be discussed. As a norm, private property sale commission is 2% plus GST but can varies according to sale price. For HDB purchase is 1% plus GST. 3) After fulfilled the MOP and have no outstanding loan, you will be able to loan up to 80% (up to the retirement age of 65 years old or 30 years loan tenure. if not it will 60%) ABSD will be 7% for second property if purchaser is Singapore Citizen. Hope my explanations help. If you need any assistance in your property needs, feel free to contact me. Cheers! Warmest Regards, YT TAN 陈永达 | ACCA Graduate, RES Senior District Manager R043025D ECG Property Pte Ltd (A Wholly Owned Subsidiary of ECG Group of Companies) Estate Agent no. L3009759F Blk 190 Lorong 6 Toa Payoh #05-508 S (310190) (M): +65 9111 5171  (E): yt.lovelyhomes@gmail.com (W): www.yttan.com (W): yttan.stproperty.com.sg/ (W) www.lovelyhomes.com.sg (W) www.ecgproperty.com Read More

HI Mar khor, 1) Seller agent cannot represent the buyer since he already represent the seller. Therefore you do not have to pay the commission to him. However you might not get the best deal because there is no agent represent you. An good agent can advise you whether the property is worth to purchase or not. 2)The commission for the selling condo is 2% and buying the HDB is 1% . This is negotiable between the seller and the agent. 3a)Yes, you can buy a condo after fulfill the 5 years MOP with 7% ABSD. 3b)You can borrow up to 80%. If your loans exceed 30 years or extend beyond the retirement age of 65 years then u only allow to borrow up to 60%. Feel free to contact me at 9273 6096  or my email if you got other enquiries. Regards Yanhui ERA HP:9273 6096 zheng_yanhui@hotmail.com Read More

Hi Mr Mark, Thumbs up to your efforts for your boy! I guess all parents are the same. Haha. Let me answer some of your questions. If you contact a seller's agent, the agent cannot represent you and you do not need to pay any commission to the agent. Of course you can seek his advice when you need help to DIY the purchase for yourself. Seriously I would really recommend that you engage an agent to help you with the purchase as your agent will be safeguarding your interests and at the same time, you can spare yourself from the many admin work required for the HDB purchase. After you have stayed in your HDB for 5 years, you would have fulfilled your Minimum Occupation Period and you can purchase a private for investment and based on current policies, yes the ABSD is 7%. If the house is fully paid, you should be able to loan up to 80% based on current policies as well. Maybe we can meet up for a chat session and no worries, there are no obligations at all. I can take the opportunity to explain more in depth to you on the sale and purchase details and timeline and also answer any questions that you may have. I have served many sellers and buyers over time and many of them have become my friends and many of them have also left testimonials for me. You may read them on my website, www.jeffreyheng.com. I also handled many cases where the sellers sold off their condo and purchase HDB and they also left testimonials for me. One of them is by the name of Mr Henry in my testimonials. I believe I will be able to provide the same level of service to you and hopefully even better. Really looking to hear from you soon. Thanks. Best Regards, Jeffrey Heng Deputy Division Director ERA Realty Network Pte Ltd Property Navigators (The #1 Team in ERA for 2009 and 2011) Mobile : 9858 1322  Email : hengjeffrey@gmail.com Web : www.jeffreyheng.com Read More

Hi Mark, I believe this is your 2nd enquiry via the Propertyguru portal, and you could potentially have more concerns over the planned sale and purchase. 1) A salesperson can only represent 1 party, which is either seller or buyer. If you have contacted the listing salesperson over a property you are interested to purchase and wants to arrange for a viewing, technically you need not pay this listing salesperson as he/she should be representing the seller. Should you require someone to assist you to take care of all relevant paperworks and represent you in this transaction, you may want to engage one on your own. 2) Commission for selling and purchasing are not fixed and can be negotiated, but usually charged at 2% for sale and 1% for HDB purchase. I can work out a package with you should you decide to engage the services of my team of consultants for multiplied effects instead of engaging a solo salesperson. In this case you need not worry about overpaying and can look forward to better network leveraging for your sales and purchase, which is 1 of the unfair advantages my team has over our competitors. 3) With a fully paid HDB, you may invest in a private residential property after fulfilling the Minimum Occupation Period. With no outstanding loan, you maybe able to loan up to 80% of the value of property or purchase price, whichever is lower, however, this is subjected to the 30 years loan tenor or up to the official retirement age of 65. For 2nd residential property, the existing ABSD applicable is 7% for Singapore citizen, however, since the purchase will be 5years later, the regulations may have changed by then. Let me know if you need further assistance and advise, such that I can arrange one of my friendly consultant to meet up with you and address any of your further concerns. We can also share more with you about the unfair advantages we have over our competitors such that you can make a more informed decision about who to appoint to assist you in both transactions. Regards, Geryl LIM Real Estate Director Masters Of Real Estate (L3010548F) CEA Reg R014783H Mobile: +65-81577565  /+65-92787772 Email: geryl7772@gmail.com https://www.facebook.com/propertyblogshop https://www.facebook.com/media/set/?set=a.297043923770884.1073741832.284747148333895&type=1&l=90fca1674e M.O.R.E Landed Dynamic Alliance - www.DAG.com.sg Home of *7772 Hotline Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now! **Aspiring to be your preferred partner in real estate** The Game Is Changing... International Property Opportunities Await! Don't Be Left Behind! More and more investors are seeking offshore real estate for investment. Have you missed out on the last international property fair? Let me know if you are keen in overseas investment. I would like to thank more than 120 of you who have took out your precious time in attending the original Landed Homes Sales Exhibition on 7 & 8 September. 1 unit was sold with 4 units reserved over this 2 day event. Do look forward to our next edition. Register with me if you are keen. Read More

Hi Mark If you contact a HDB seller agent, you do not have to pay him any commission at all, as he will be collecting directly from his seller. And on your part, he will then only need to guide you through the paper work process. Pls feel free to let me know if you need any assistance. Regards Aaron 9730 8455  aaronchong2774@yahoo.com.sg Read More