AskGuru Q&A Community

Have you completed MOP?
The S&P process needs careful and confident planning in financial, timeline and

checklist especially HDB, CPF, bank and lawyer etc. Recently my client

'suddently' bought a dream condo while 'holding on' to a HDB flat. They needed

the extra 'funds' for the condo. Hence, after a series of planning, discussion and

deliberation, they finally decided to sell their HDB unit. Engage an agent if you

expect a consistent S&P process. The stress relief effort is enormous and the

commission is insignificant. Check this site: www.catherinepang.com Read More

Hi Rajendran,

Yes, most of my fellow realtors have mentioned the magic 3 letters. MOP, have you met the MOP even if you have fully paid up for your HDB?

If yes, congratulations. You are entitled to buy your 2nd property and likely to be granted 80% loan. Talk to the bankers to assess your loan amount and the various packages they can offer before deciding on whether to go ahead with the purchase now or hold and wait.

Nevertheless, I always feel that even if prices of property drops, it is likely to be higher than the previous low, and chances are, the time required for recovery may also be shortened unless something catastrophic happens.

Feel free to contact me further should you require further advise.

Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More