Hi,
1) Setting up a trust for property purchases has nothing to do with your loan.
2) To buy a property using trust has to be paid using cash only.
3) Buy property under trust does not limit to a new property (new launch).
4) The main reason that most people are buying a new launch when using a trust is that it is like buying in installments.
5) New launch condo is paying progressively, meaning, only when the condo had built up to a certain stage, the developer then can call for payment. It will be 10%, 5% per payment, spread across 3 yrs. Now it could spread over to 4 or 5 yrs.
Thus it is a good force saving for someone who does not wish to tie up all cash at one time.
6) Whereas if buy resale, you have to pay all the 95% upon sale completion, which is usually 3 months upon the issue of OTP.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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