Hi,
1) It is true that you will encounter difficulty securing a unit now due to your current situation.
2) There will be a lot more negotiation between yourself and the seller, not only pertaining to price.
3) If everything went smooth, the seller willing to wait for another 2 months before the end of March to start the resale process. You will have to place $1,000 to exchange for a non-dated OTP.
4) This process is not a formal process though not uncommon in the market.
I would suggest before you start to view on-site, you can start to do the following:
1) Check with banks on your possible loan, you don't need a formal letter of offer from banks, just a verbal IPA will do. Because IPA lasts 30 days to 90 days dependent on individual bank practice.
2) Understand the mortgage package offer from each bank, pros & cons of them.
3) Do some homework on location, type of design, and the level you are keen on that is within your budget.
You may start your viewing tour after Lunar Chinese New Year.
This initial viewing will give you a more direct understanding of price vs condition.
If possible engage a real estate agent to provide advice, otherwise, try to understand what to look out for during a viewing.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer/
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