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Hi I'm interested in a property but am not able to commit because of funds stuck in another property which I plan to sell how do I go about it? Is the best option a bridging loan and how quickly can that be achieved without missing out on the property that I would like to purchase? Thanks Mrs B
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3 Answers

Hi MRs Brown;

May I suggest that you sell your current property as soon as possible to get back your funds to purchase the other property that you are keen in.But the whole conveyancing process will take about 3 months,before you could get back your funds.
Alternatively,bridging loan would be more ideal.The approval for bridging loan only takes about 3-5working days(after submittion of relevant documents).If you need any help with the banking/loan procedures,please feel free to contact me.I have a couple of mobile banker that I work closely with that would be able to help you.Thanks

Rgds;
LYna from ERA
lynasong@hotmail.com
www.lynasong.myweb.sg
 9623 8442  Read More
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Lee Chun Peng Adnic
Hi Mrs Brown,

Please don't be anxious. At such condition, it is the best to sell your property first to get the funds. As you won't want buy and commit to bridging loan and in the end sell your present property at much lower price than the others.

If you like the new home so much that you are willing to take up bridging loan, there are many issues to assess. As depend on the supply and demand of your project, it may not sell as fast as you think it would be and you will be in a difficult situation which may end up paying unnceccessary charges.

I will like to meet up or discuss over the phone with you on how some strategies to to make the transition more smoother than usual.

Many thanks
 96722265  Read More
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Hi Mrs Brown,

If you really love this unit so much... take a bridging loan.... and...

You can consider to ask for a longer option period to exercise the option for the unit you are buying, and a longer completion period so that you have ample time to market your property.

Let me know if i can be of any help.

Cheers~
Brandon - ERA Marketing Director
HP: 8233.23.23
Email: aw.brandon@gmail.com Read More
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