3 Answers

Ivan Ng

If you will want to stretch another 3-4 months on top of the usual 4 months processing time, it is of course possible but the offer terms will definitely be impacted, ie. in the form of a price reduction or some other compromise or trade-off. After all, it is a buyer's market now and depending on your location, it could take 1-2 months to secure a reasonable offer, let alone one who can stomach a few more months of further waiting.

If you have strong concerns, it is advisable to engage an agent who can manage both timelines well and secure a smooth transition between the two transactions. Generally speaking, if we understand the client's requirements correctly, we will definitely be able to secure an ideal unit for purchase and ideal offer for your current unit. The whole process will not take too long such as 10 months.

Thanks and may I understand your requirements further so to value-add to your housing plans? Thanks and hope to have the opportunity to work with you.

Warm Regards,
Ivan Ng
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Geryl Lim
Dear sir/madam,

Suppose what you are looking at is all-win situation for you, that you want to secure a buyer first for your existing place before looking out for another place to purchase. What I usually advise is to do both concurrently, such that the moment you have an acceptable offer for your place, you can also make immediate decision to purchase to reduce the delay in completion over on your sales portion, as buyers usually will also be looking out to complete as fast as they can since they, too, have renovations to factor in.

I have a case where buyers are even willing to match the seller's asking price just so that they can take over the premises as per normal completion instead of buying at a negotiated lower price with extension.

The delay in submission of resale application can be done since each valuation report lasts for 3 months. For the extension period, it is again up to the buyer and seller to come to an agreement on any pricing to be factored in.

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Geryl LIM
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M.O.R.E Property Pte Ltd (L3010548F)
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Angela Chua 蔡斯淇

I would like to further understand your situation. Feel free to contact me for discussion.

Angela Chua
Propnex Realty Pte Ltd
H/P: 9323 3330 Read More