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Dear Sir/Mdm,

For your situation, you can manage the risk by

1) Request for a longer option period for the purchase so that you have sufficient time to sell off your current property.

2) Request for a clause to be added in the option to purchase such that in the scenario when you did not manage to get the LDAU approval, the contract will be void!

Please feel free to contact me so that I can understand your situation better and provide you with further assistance!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
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(E) nick96444854@gmail.com
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Hi, it would be advisable to await the approval from LDAU first, and then plan for the next course.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Dear Sir/Mdm

Good day to you!
I’m Daniel Tan from PropNex Realty.

The best advice will to wait for the approval from the LDAU first before proceeding with the purchase. Unless you will be able to do the purchase just under your sole name.

Selling of your current unit is also another important consideration. If you need the proceeds from the current property for the new purchase, you might need to urgently start market your unit now so that you can get that dream terrace earlier.

If you decide into entering the contract now for the new property, you might be exposing yourself to many unknow risks.

Feel free to contact me for a more detailed discussion.

Any other queries?
Please always feel free to contact me for a non-obligated discussion on how I can assist you with your real estate needs.

Have a great day ahead.

Best Regards

Daniel Tan
PropNex Realty Pte Ltd

(+65) 9477 5100 
daniel.tck@propnex.com
FB: @danieltanpropnexrealty Read More

Hi Sir/Mdm,

Basically for your case, what I would propose will be the same as Aaron and that is to apply for the approval from LDU first. Of course we can also explore the possibility of purchasing the property just under your name if you do not need your spouse income for the loan. If it is approved then the approval will last for 6 months.

The second portion that i read from your post will also be the selling. We will also need to gauge how long is the sale process depending on what is the type of property you're selling and also what are some of the objections of the house which may deter it from making a fast sale. Of course if everything is good, then this portion we can be at ease.

In this type of a sell and buy scenario, I will always recommend my clients to confirm the sale first before we commit to the purchase This will really be taking a risk, especially if we are upgrading. I know you might have found the house that you like very much but we really have to weigh the risks. Another factor that we have to consider will be the Additional Buyer Stamp Duty that you have to pay. We have a deadline of 6 months to dispose off our current property once the new purchase completes and we can claim back the ABSD paid. If we pass the 6 months mark, chances of claiming back the ABSD is super duper slim.

Maybe if you are comfortable, we can meet up for a discussion on this. No worries there are no obligations at all. After I have more information from you, then I will be able to advise you further. Hopefully we can churn out more solutions if situation allows.

My partner and I have served many clients over time and many of them have became our friends. Many of them have also left testimonials for us for our service rendered. Maybe you can take a look at some of our testimonials at https://www.sgpropertyadvisers.com/testimonials . Hopefully from there you can catch a glimpse of how we work. I believe we will be in a good position to provide some good advice to you.

Looking forward to hear from you soon! Cheers!

Best Regards,

Jeffrey Heng
Senior Associate District Director (Sincerus Division)
NAVIS Living Group - A group in OrangeTee that believes in Technology, Training & Teamwork (3Ts)

Founder of Sincerus Division
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Good day sir / madam .

The info you provided is insifficient to give you a fair or accurate advice , by guessing or assuming , if the financer or the one who has the cash or has the borrowing power ( income ) is a singaporean , the LDAU approval is not much irrelevant, and also assuming you do NOT need the funds from the sales proceeds of your existing home to buy your next home , you may proceed with the landed purchase .

If otherwise , best is to commit AFTER you sort out your LDAU application , and after you have sold your present property to avoid ABSD and easier cash flow .

Kindly contact me joanne chia hp 8333 3327  for a no-obligations chat for your property needs.

My charges are 1% commission for exclusive ( sole agent ) selling rights to your property , or 2% for open listings ( many agents ) .

No commission charegable when i serve private property buyers .

Joanne chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More

Dear sir,

Considerations:

1) What plans do you have if SLA does not approve of your wife's application to own a landed property? Do you proceed to purchase under your own name, purchase a bigger condo unit or do you stay put as it is?

2) What is the seller's motivation to sell? Are they upgrading or are they purely cashing out? If they are upgrading, it is quite unlikely they would be keen to consider any extended option period as we are experiencing upswing in terms of prices where if they decide to sell in you current market price and wait out for the option period, by that time, the shift in pricing could have already become disadvantageous for him to accept current arrangement, unless you make an offer with a premium for his considerations.

There are many other possibilities and options depending on combination of factors to consider but more importantly, you need to ascertain your own needs. As far as we are concern, a win-win situation will be great, however, there is always an element of risk involved in a sale and purchase transaction. If you insist on a win-all situation in favour of yourself, it definitely means a lose-all situation against the seller.

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Regards,

Geryl LIM
Consultant - Director
Global Alliance Property (L3010679B) - Century 21
CEA Reg R014783H
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