AskGuru Q&A Community

Good afternoon Sir/ Mdm,

It depends on individual situation.

If require funds from sale to buy, most individuals will choose to sell first then buy. Supply of housing is low at the moment if you are able to pay the ABSD upfront first, it could be a better choice. ABSD remission is applicable when existing house is owned by a married couple (1 at least singaporean) and able to sell off (buyer exercise otp) within 6 months from the date they purchase another property under both names (exercise otp). I think quite sufficient time to source for a qualified buyer.

If you are worried about timeline, we can always make adjustments subject to hdb buyer and private seller's approval.

It's pretty common to have a single salesperson to handle sale and purchase for a client so I can time both transactions properly without any financial stress for my clients.

I had assisted HDB owners to move into resale private, new units and even landed. Hope I can share my expertise and let you guys have a smooth transition in your home journey.

Hope my sharing helps in aiding in your enquiry.

May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

Contact:
Mobile: 91115171 
Email: yt.tan91115171@gmail.com

Do follow me on:

IG: instagram.com/propertykaki
FB: https://www.fb.com/propertykaki/
YouTube: https://bit.ly/Youtube_PropertyKaki

To find out what’s the estimated valuation of your existing house, try our SRX property tracker.

You will receive free sms update on a monthly basis.SRX property tracker: http://bit.ly/yt_proptrack Read More

Hi

Much of it, depends on individual. We will need to assess your personal needs and the situation to determine the strategy to adopt.

It would preferably better to engage the same agent for better co-ordination.

You may text 9620 0827  for a casual chat.

Warmest regards.

Gavin Read More

Hi,

It depends on individual circumstances. I assume you are referring to purchase of resale condo. Yes there will be timeline requirements to get the ABSD refund if you decide to buy first, and will have to sell away the current property within 6 months, which may potentially affect your attainable sale price. Also there may be some cash flow planning required as condo deposit typically involves 5% of the purchase price, whereas HDB only requires 5k deposit.

Another thing to factor in will be typically the condo purchase price will be much higher than the hdb sale price, hence there are some clients who will need their sale proceeds from their HDB unlocked, before they are able to do the completion of the condo.

Yes collaborating with the same agent helps as they are able to coordinate the timelines closely and ensure you have a smooth transition. A committed and professional agent whom you are comfortable with is able to help you to visualize the full scenario and advise which step is optmal and each step of the purchase. Any unforeseen scenarios he/she will be able to handle and work out a solution so that your requirements and concerns can be managed.

I have helped various clients to upgrade and transit smoothly from their hdb to the condo. Happy to do the same for your scenario. 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
ERA Diamond Achiever

ERA Top 11 Achiever in June 2020 (Top 1% Company Level)
ERA Top 91 Achiever in 2nd Quarter 2020 (Top 2% Company Level)
ERA Top 15 Achiever in April 2019 (Top 1% Company Level)
ERA Top 86 Achiever in Sept 2019 (Top 2% Company Level)
ERA Top 510 Achiever in Year 2019 (Top 8% Company Level)

SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.

Contact: (+65) 97432395 
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
WeChat: ivanng10
FB: fb.com/IvanNgRealtor
W: ivanng10.com/clientreviews
(Client's Testimonials)
CEA: R052114D

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- 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.

-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --

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. Read More

Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, do you also need a mortgage banker? And yes most of the time, I assisted my clients to sell their HDB flat first and then to go on and to purchase the next private property. It is also advisable to go with the same agent so as to have a smooth and seamless transaction for both the selling as well as the buying.

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

Hi,

Most people will do their sale and purchase concurrently (to avoid ABSD), though I do have clients who purchased first (paid 12% ABSD, now 17%) and then sell later (I'm selling for them now). It really depends on your situation.

Do take note that apart from the 17% ABSD, if your HDB flat is still under loan, the LTV of your condo drops to 45%. TDSR will also be affected.

Depending on the location of your HDB and the flat type, you can plan the Timeline for your sales based on the current market trend. The recent trend is favorable to units with bigger floorplate, i.e 5RM, EA, EM.

It is also advisable to engage the same agent if you decide to do your Sale and Purchase concurrently. This allow the Agent to properly plan the Timeline for you, so that you can avoid the hassle of having to shift house more than once during this transition.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property 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 Sir/Mdm,

Personally I would not advise my clients to buy first and pay the ABSD especially when the ABSD rate has just gone up. This is because by doing so, the initial cash outlay is quite high and you may be under a lot of pressure to sell and therefore may not have sufficient marketing period to ensure that you can get the best price for your property.

For most of my clients, I would plan the sale and purchase simultaneously with the objectives of minimising cash outlay, avoid the need to pay ABSD and also allowing them to transit from their current property to another with some time for renovation and not need for an interim housing solution.

It is recommended that you get the same agent to plan the sale and purchase for you because he or she will know your timeline best and be able to plan the both process smoothly for you.

Ultimately, the decision to sell or buy first depends on your individual circumstances taking into consideration factors such as how easy it is to sell your property and the supply of potential units you wish to buy.

Please feel to contact me so that I can gather more information from you and provide you with more informed recommendations.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020

Visit my website to get to know me better:
www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

Testimonial from Satisfied Clients
“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
Peter & Wendy (Property Seller)

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.
Weilun & Benita (Property Seller)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller) Read More

Dear sir/madam,

In most cases, the purchasing part can be done relatively fast, especially in current market where we are expecting a cool off in pricing for the private residential market, unless you have specific niche that you are looking out for in the purchase.

I will always advise clients to look into selling first but do not accept any offers until you are confident that units you are looking out for are available for sale, meaning you will also need to be actively on the look out for purchase while marketing your property for sale, such that you can make an informed decision when an offer for your property comes. For home stay property purchase, I personally do not recommend to compromise in terms of the suitability of unit as we are looking at mid to long term stay in that property, therefore the comfort factor should be prioritise over anything else. I always let my client know that purchasing a low price unit does not mean you will gain because price growth may also be affected. Importantly, the unit must be right itself with the physical conditions and environment such that future buyer of your property can also relate to this and make the purchasing decision.

Hope the above helps!

I have been in the real estate business since 2009, with more than 12 years 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 client's 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!

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
-----
Note: We value your home as much as you do! Find out the indicative value of your home at http://bit.ly/UrHomeMatters and get monthly update on your home value. Restructure your portfolio with us, speak to us!

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

Visit and Like my facebook page at https://www.facebook.com/GerylLimSince2009/ - Aspiring To Be The Best Real Estate Agent In Singapore

Pick up knowledge, skills and Real Estate concepts at https://www.facebook.com/RealEstateXcellence/

New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/

My self introductory video on https://www.youtube.com/watch?v=uZ6REQfdGSw
-----
Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ http://l.ead.me/7772 Read More