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What are the risk involves in buying a condo with 17 yrs lease expired out of 99yrs total lease in north area? How can I check bank loan eligibility? Recently we viewed a house to buy, that Property Agent recommend a banker to check the eligibility of the loan. So that the banker asked me send my pay slip, IRAS statement,ic copy, bank statement and signed loan application form. I have to submit bank loan application form to check my eligibility / to know the loan amount which I will able to get? Meanwhile we check the indicative valuation of that unit to another bank it's about $70k lesser than the selling price. We still can consider it? I m a new buyer SPR. Any advice?
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7 Answers

Hi Mrs. Dhivya,

It is better to get an indicative loan approval done with bank before you proceed with offer of unit. I can get a few to assist. How about Northoaks condo in Woodlands? Does that location suit? Link as below :

http://www.propertyguru.com.sg/listing/19310281/for-sale-northoaks

Thanks and hope to discuss further.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More
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GAN ENG JOO ONASSIS
Hi Dhivya,

Re: Our Preferred Experienced SG Realtor

It better to check with banker whether they can match the selling price of the property.

We can assist you based upon your stated contents and walk you through the entire process with options.

Call us now, we can explore further in detail.

We are contactable at 92222389  or onassis@sgrealtor.com.

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Hi,

Perhaps you could contact me so that I could understand better the nature of your concern and illustrate the figures accordingly. Do visit my website for my latest awards and testimonials @ www.kumarrai.com. Thanks!

D Kumar
 +65 96659926 
ERA Associate Division Director
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Hi Dhivya,
I can assist to compute your estimated loan amount and the valuation of the unit for sale.
To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More
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Hi Dhivya,

In order to have a more accurate figure when it comes to loan eligibility, it is better to go through the procedure proper with the banks in submitting the right documents for assessment. The indicative valuation you have gotten from the bank as mentioned, is only an indicative and not the actual valuation. It will be good to look into the recent transactions of the project as well to ascertain what could be a reasonable price for the property.

You can call me if you require me to assist in the analysis of the transacted prices as I have the necessary database to pick up these data.

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop/

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My self introductory video on https://youtu.be/6UfrCOCB6Mg

Regards,

Geryl LIM
Real Estate Director
Global Alliance - Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
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Hi
Pls drop me a call or sms at 91442664 
I can get my bankers to assist you in the loan.
Look forward to hear from you.
Tricia tan
 9144 2664  Read More
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YT Tan (陈永达)
Good morning Dhivya,

I recently assisted an indian SPR buyer in purchasing a property at Chiltern Park. It's almost 20 years old this year. The reason they chose that property is due to the massive land area of the project, spacious unit and reputable school.

Probably you can share with me why are you choosing this property?

And in order to get a formal IPA, you need submit all the necessary documents required by bankers. They will keep all your information confidential so you dont have to worry about any information leak.

As for your purchase price, as long as you got it below or at bank indicative, it will be considered as reasonable.

If you are worried about your purchase procedures and whether is it a good buy, probably you should engage a real estate salesperson to advise you and you dont have to pay commission to him as he will be getting it from the seller's agent. But you do have to get the seller's agent the heads up as well.

Acting as your representative, he should be to advise you on IPA, bank indicatives, recent past transactions etc.

It will to your benefit.

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 
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(W): www.propertyavenue.com.sg Read More
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