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Hi Nicholas,

Definitely cash downpayment is required, I am not sure what you have read and were led to think that way. But if your currently 5room hdb has appreciated in price substantially, the sale proceeds from this property after the sale can help with the downpayment and you may not need to utilize from your current savings to meet the downpayment requirement.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --

I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.

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I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan.

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We would like to thank you for ensuring a smooth and well-explained process throughout the whole selling and buying of our property. We got to know you thru Property Guru, where we are scouting for condo around West area. We remember that we are quite tight in our budget in purchasing the condo unit,but you are still very willingly explaining and calculating our financial liabilities. You are always having your smiles whenever we met for discussion.

We appreciated your process of selling and buying of our property are very systematically and well executed, from financial calculation to the purchase procedure of our new house. We are always being updated thru our group chat during the engagement of your service.

We would never expect such a smooth sailing experience of selling and buying of property. Your professionalism in work will definitely be remembered and rewarded. All the best in your property venture! Read More

Hi Mr Nicholas,

There was a period of time when people were talking about zero downpayment and many others were saying that it is definitely a scam. Actually it is not a scam, it can really be done if all the necessary conditions are met. For a start, you will still need to take out money for downpayment first but like mentioned if all the conditions are met, then you might be able to get back your money that you have spent for downpayment in a few months time.

Now back to your question of whether should you sell your 5 Room HDB and upgrade to a condo or should you just buy a second property, I think the best solution is to do a financial calculation first. With all the numbers in hand, it is much easier to weigh the solutions so that we will not be too overstretched no matter which path we take. What we are intending to buy is also very crucial. There are many properties out there and the harsh fact is, not every house can be bought. What I mean is there are some houses with very bad conditions but they are well masked during the showings and you are not able to see. Even new launches are the same. Not every new launch can be bought no matter how beautiful their show room may seems. Extensive amount of research will need to be done before committing.

What I can suggest is that we can probably meet up for a chat together with my partner. We can take this opportunity to do a financial calculation for you. We will show you what the figures will be like if you sell your flat and buy a condo and also the figures if you just buy a second property direct. I can even share with you on an interesting investment that I bought for myself! Haha. No worries, this meetup has no obligations at all. We can really just take it as a chat and knowing one more friend. After the calculations are done, we will explain to you and also email you the calculations so that you can have a in depth discussion with your family before making any decisions.

My partner and myself have been in this business for a while and we have served many clients over time. Many of them are now our friends and many have also left testimonials for us for our service rendered. Both of us have always believe that our property is probably the most expensive thing that we have bought in our lives and hence any agents handling the houses should really uphold the clients' interest in top priority. Thanks to the many kinds words from our clients, both of us have been interviewed by Council of Estate Agents (CEA) before and we have been featured in their newsletter for Great Client Service. Personally I also won the SAEA Best Client Service Silver Award before as well. We believe that we will definitely be able to provide some good advice to you and hopefully we will be able to provide the same level of client service to you and hopefully even better.

Best Regards,

Jeffrey Heng
Associate Executive Director (Sincerus Division)
OrangeTee and Tie Pte Ltd
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Mark, your RIGHT choice
Propnex Read More

Hi Mr Szeto,

It is definitely impossible to purchase a property without cash downpayment. Minimum cash downpayment for all residential homes purchase in Singapore requires 5% of the home value or purchase price, with balance 20% paid for by CPF if there is sufficient funds, should the purchase be looking at maximising the loan (subject to 60% TDSR if you are eligible).

We are hearing so much about asset progression lately, and these are done mainly by leveraging on the existing low interest rates, where home buyers take up maximum loan they are eligible for in their private home purchase. The cash proceeds they have generated from their sale of their existing home will then be used to pay off the monthly mortgage over a period of time, while the home buyers are still working and generating income for their daily expenses. This in a way ensures that home buyers are well covered over a period of time without the need to worry about repaying their mortgage, while sitting on a better asset class with potential appreciation in home value over existing home, which can then be generated into further profit.

Have you heard about how you can increase your portfolio even without buying?

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my clients’ portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

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Hi,

Apologize to burst the bubble but you definitely will need to pay downpayment.

For example, if you are getting a new condo, the 5% payment must be cash. You may have heard about upgrading to condo without additional cash but it is not as simple as that and you will need to plan carefully.

I won't be able to advice further as i will need more information from you.

Feel free to contact me at 92707548  to discuss further.

Thanks

Alan Sng
PropNex Read More

Hi Mr Szeto,

Probably those you have heard is ' upgrading without touching your savings' , or ' sell one ,buy two '. And yes, this is possible.. but not all are eligible for this.. for further info, please do get in touch with me so I can share more as im unable to contact you here.. Thanks

Rgds;
Lyna Song
 9623 8442 
Associate Group Director
Propnex Realty Pte Ltd
lynasong@hotmail.com Read More

Hi Nicholas,

MAS states that the maximum LTV is 75%, hence you will definitely need to fork out at least 25% (min 5% Cash) as downpayment for your condo purchase. This is provided that your age and income allows you to loan up to 75% of the property purchase (or valuation) price, whichever is lower.

Depending on your family profile, it is still possible for you to upgrade from your 5RM resale flat to a condo, and even purchase another property for investment.

However, I will need to assess your situation first, before I can give you a more appropriate recommendation. I certainly do not wish you to overstretch yourself, especially in uncertain times like today.

I am experienced and well-versed in both private and HDB resale transactions. My area of focus is in Central/Queenstown/Bukit Merah/West region, and I am blessed to have transacted several record-breaking "million-dollar" HDB flats over the past 1-2 years, with many others in the $900k+ range.

I will be able to assist you in your upgrading plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Dear Nicholas,

To buy a private property, we need at least 5% cash and 20% (Cash/CPF) down payment.

I need more info from you (your 5R flat details, outstanding loan etc) in order to work out the cash proceed if you are selling your current property and see if and what you can afford for the condo purchase. With all information given I would be able to work out a plan with different options for you.

Kindly contact me at 9726 1112  so that I can assist you further

Thank you and best regards,

Jenny Tran
 9726 1112  Read More

Hi Nicholas,

It is not possible to purchase a 2nd property with little or no downpayment as 5% downpayment (in cash) is required when you purchase a property in Singapore. Moreover, if it is a 2nd property, it will also attract Additional Buyer Stamp Duty which is about 12% if you are a Singaporean.

What I usually plan for my clients is to minimise the downpayment by using the sales proceed for the sale of their current property to finance the purchase of the next property. In this manner, you will be able to minimize the cash outlay and also transit smoothly and seamlessly from one property to another. This requires meticulous planning in terms of the sale and purchase timeline and cashflow.

Please feel free to contact me so that I can understand your situation better and draw up an upgrading plan for you.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

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I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
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Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Hi Mr. Nicholas

I will be depend on your financial. I will need more info to be able to advise you
I won't be able to contact you first as I do not have your contact, appreciate if you can contact me at (65) 96608508  or Silviayang8@gmail.com with details of your unit
or click here http://bit.ly/2tzIQ1a to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

PropNex Realty Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More

Hi Nicholas,

I think the overall picture means that if you have an existing property and you sell it, with the sales proceeds and refunded cpf you wont need to come out with own savings for the downpayment.

MAS regulated that loan to value is 75% therefore downpayment will have to be 25%.

If you have an outstanding loan, your loan will reduced to 45%.

By buying a second residential property will result you in 12% additional buyer's stamp duty as Singaporean.

Therefore the downpayment will be around 70% (55% downpayment and 15 to 16% stamp duties).

So how to buy a second property with or without no downpayment?

I had assisted numerous clients in upgrading their property portfolio.

Perhaps we can meet up over a cup of coffee to discuss what are the options available to you guys?

When will you guys be available these days?

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