AskGuru Q&A Community

Hi,

Firstly, have you met MOP of 5 years? If so, you can purchase 2nd residential property.

For both ECs and PCs, assuming you can take 80% bank loan, both downpayments are 20%, of which minimum 5% is cash, and 15% CPF.

New EC have more requirements such as income ceiling, and family nucleus required, but not PC or resale EC. In this case, if you need your sales proceeds to fund the downpayment of the condo, your timeline needs to be managed well so the transition is smooth.

Thanks and may I understand your housing requirements further before further value-adding?

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com
www.ivanng10.com Read More

Hi,

Well for EC, there are restrictions like income ceiling and of course the MOP imposed. Please feel free to contact me at 96659926  for a non obligatory discussion for me to better understand your requirements and specifications to be in a better position to advise you further in the most detailed and thorough manner, for me to very comprehensively chart out your financial calculations flow and for us to explore the available options and alternative.

Rest assured, I will walk you through the entire process- assisting you all the way from finding the perfect property to negotiating for the best price to post deal paperwork, to establishing financial calculations and ascertaining risks.

Visit my website to view my testimonials & recent awards to gather more information on me: www.kumarrai.com

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com
www.singapore-newproperties.com.
contactdkumarrai@gmail.com

About Me-

ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group-
2014 Overall Top Achievers
2014 December ERA Top Achievers
2014 3rd Quarter ERA Top Achievers
2014 August ERA Top Achievers
2014 September ERA Top Achievers Read More

Good evening buyer,

Yes cash downpayment is at least 5% if you can obtain a 80% bank loan. It could be more if you don't have enough CPF for 15% CPF downpayment.

Btw you must have the 15% CPF/ cash downpayment ready when you purchase an unit thus you might need to sell off your unit soon to secure your purchase. If you are purchasing resale unit, then you have to time your purchase and sale properly.

If you are getting a new launch, you might have to find a temporary accommodation while waiting for it to be completed.

Lastly do take note that normally ECs are priced 10 to 15% cheaper than the surrounding projects so you have to weigh the pros and cons between private condo and EC.

If you need any assistance or advice in your property purchase, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com
(W):www.propertyavenue.com.sg Read More