Do take note that to be eligible for contra facility, your current loan and loan for must be both from HDB.
As the resale market in not moving as fast nowadays, I will advise you to put your unit up for sale first while concurrently dp house hunting. Only commit to a purchase after your buyer has exercised the OTP.
Hope my explanation helps!
Feel free to contact me if you need any assistance or advice in your upgrade.
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727
(M): +65 9111 5171
(W): www.propertyavenue.com.sg Read More
For enhanced contra facility for HDB resale, it has need to from HDB loan to HDB loan. Is this the case for you? Also, MOP of 5 years have to be met first.
In current market dynamics, it is better to secure an buyer offer first before committing to your next property. Both can be done concurrently, and I will be glad to illustrate the financial planning and timelines for you. Thanks and hope to understand your requirements further so as to value-add to your housing plans.
Proactive. Sincerity. Feedback.
Contact: (+65) 97432395
CEA Registration Number: R052114D
ERA Realty Network: L3002382K
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You may wish to sell off your unit first and then purchase in view of the weak market sentiments. To begin, I would like to point out the key essential in the sell-buy process and that is the : Financial Cash Computations and Calculations. It is recommended to have a preliminary discussion with a professional who will work out your financial cash projection, generation of sales proceeds and factor in the likely purchase price so that the process is smoothly facilitated and ensures you a tidy substantial profit. Sometimes, being rookies and unfamiliar with the overwhelming process, a slight wrong decision can lead to a paper loss and even actual loss!
As we are experiencing a market downswing with weak market sentiments, it may take a longer time to sell of your existing unit. However, as long as we embrace the realistic approach, of maximum exposure and setting realistic yet profitable purchase price, we will maximize the timeline. For this, I would need to have a physical look at the unit, study the recent up to date transaction caveats of similar sized units in vicinity and hence, present a sales and elevation report to advise further. Furthermore, a preliminary discussion would allow me to shed some light on my working style and comprehensive marketing strategies to get your unit maximum exposure through the various mediums and more.
In addition, it will be best to understand more on the market insights and caveats of your intended purchase as well as for me to run through the overview procedural framework. Sell-Buy process should be expedited on a step by step basis, to ensure no financial liquidity complication and no wrath of regulations. Having said that, this is the right time to upgrade as prices are fallen visibly, and since you are looking for a bigger unit, the % fall in quantum of those units is higher and supersedes smaller units, which means that your profit margin is maximized. We could explore this concept to take things forward. Hope to hear from you!
ERA Associate Division Director
www.kumarrai.com (Awards and Testimonials)
#1 team of ERA in Singapore, Asia Pacific International for 2014.
ERA 2015 Q1 Top Achievers (Top 1% of ERA)
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You can do either way sell first , buy later or buy first and sell the current flat within 6 months. In todays market, better sell current flat and than proceed to buy.
Feel free to contact me if you need any assistance
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If you are considering doing contra facilities, you will have to buy and sell at the same time. Given that it is “buyer” market right now, it makes more sense for you to sell first before buying.
Hope that I had answered your question.
If you are looking for salesperson to assist you, I would like to offer my service.
Not all internet marketing is the same, especially during this low period. We need to have the most advance marketing tools to give your property maximum exposure. One of the tools we have is virtual tour. But that is not all we have, and there are many other tools and strategy that give me and you an unfair advantage over the rest.
Pls check out virtual tour here
Pls check out video here
Don’t you agree that marketing plan is most important factor when trying to get the ideal buyer for your property, especially during this slow period?
You may want to check my website for my testimonial.
Feel free to contact me if you need my assistance.
Thanks and Regards
Team Associate Director
OrangeTee.com Pte Ltd
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