Another convert to property! :)

[Mecisteus]

Actually, to decouple for 2 private properties, it is also quite a stretch for most, me included....each person must be a high earner to support it...so must think carefully, esp since rental yields are so poor for Sg properties cause they are so expensive, maybe investing in REITS will given higher yields and less headaches. Afterall, REITS are a form of property investment in the form of shares...

Can consider the high quality reits like Capitamall and Frasers Centrepoint Trust. Yields are lower but they are most stable. If these reits do not do well, I think there is a structural problem with this country.

 

[atamavision]

can any expert give some advise.

have a HDB, fully paid up and a condo with 750k loan. intention is to rent out HDB and stay condo.

condo just TOP but find the unit too small so looking to sell away and buy a bigger unit in the same project.

Not easy to sell as market is weak. so another way is to hold and rent out, although rental market weak as well. wife don want to stay in current HDB due to some personal reason.

was told by agent once ceveat lodged, no way I can negotiate with developer to exchange + top-up cash for a bigger unsold unit.

so 2 option now.
A) Wait to sell before buy.
lower ABSD and can loan up to 80%.

B) hold condo for rent/sell and meanwhile proceed to buy 3rd ppty.

problem is bank only loan max 50% since have existing loan. anyway to find bank to loan me 80%?.

not sure will I face TDSR issue as both condo mortgage payment add up should be around 70% of my job salary, but not yet include possible rental income from HDB and probably 2nd condo.

I have no big worry on servicing the 2 mortgage loan even if finally only HDB rent out and 2nd condo remain empty.

key is to get a bank to extend 80% loan for 3rd ppty.

is it possible?
TIA

btw, pls don suggest loan from along or any illegal means or loan with super hi interests ok. thanks

 

[SBC]

Rent out your both units and rent a bigger unit there?

 

[atamavision]

Rent out your both units and rent a bigger unit there?

considered before.
but decided to buy as saw a unit (not yet sold) that we like.
so is either wait till heng heng can sell away current condo then buy, or see any means to get 80% loan for 2nd mortgage

 

[SBC]

Condo is about 1000 sq? Are you aware of SSD?

 

[atamavision]

Condo is about 1000 sq? Are you aware of SSD?

slightly above 1100sq
yes , if sell in 2016 need to pay 4% SSD.
willing to pay if can sell and change to bigger unit.

 

[SBC]

Looks like you had strong buffer.

Mai Tu liao. Just execute it

 

[The_Davis]

slightly above 1100sq
yes , if sell in 2016 need to pay 4% SSD.
willing to pay if can sell and change to bigger unit.

Really is rich man problem

Anyway you confirm reserved the unit you interested in?

 

[atamavision]

how to execute? how to reserve?
cash on hand can only cover 20% DP + 10% ABSD.

As my 1st post, need get bank to loan me 80%, as I am short 20%.

 

[OngHuatHuat]

how to execute? how to reserve?
cash on hand can only cover 20% DP + 10% ABSD.

As my 1st post, need get bank to loan me 80%, as I am short 20%.

You better try the TDSR first.

They will cut cut cut your income to a very low level.

Now I feel funny when people said they can just decouple and buy 2 units. They will stop this wishful thinking if they do not have enough cash on hand or after they try the TDSR power.

 

[atamavision]

You better try the TDSR first.

They will cut cut cut your income to a very low level.

TDSR maybe ok.

6mth ago I did IPA, bank clear me to buy 3rd ppty value up to 2mil, but loan me max 1mil.

so problem is still the 50% bank loan

 

[SBC]

Power of TDSR.

My credit status with several times has always been good.
Applied a card recently after my mortgage loan last week.
Card application was rejected.

 

[j1]

how to execute? how to reserve?
cash on hand can only cover 20% DP + 10% ABSD.

As my 1st post, need get bank to loan me 80%, as I am short 20%.

seems quite tight lei...stamp duty lei?

my friend got ipa for $3m+ property via show of funds...but point to note is that the funds cannot be touched for dp, stamp duty, absd...basically cannot use any of it till after loan is disbursed.

so in summary...the ipa amount is not real/accurate...unless the bank expect her to have another $2m cash lying around somewhere

 

[SBC]

Penalty like 4% SSD & 10% ABSD, will easily add up to 180k.
Other bank penalty too due to early loan discharge.

Other costs include 2* legal fee, 1* agent fee & 1* stamp duty.

Even if I am having this amount, I will not throw it away that easily.

 

[OngHuatHuat]

Penalty like 4% SSD & 10% ABSD, will easily add up to 180k.
Other bank penalty too due to early loan discharge.

Other costs include 2* legal fee, 1* agent fee & 1* stamp duty.

Even if I am having this amount, I will not throw it away that easily.

My only conclusion is that fellow is in a different league.

So i don;t bother to reply him anymore.

He confirm stronger than moi.

 

[atamavision]

My only conclusion is that fellow is in a different league.

So i don;t bother to reply him anymore.

He confirm stronger than moi.

not difference league lah.
i saw you many ppty in jiu hu land. lagi more satki.

not trolling.
i also headache now.

new condo too small.
wife don't want to stay current HDB for too long.

So best option for me is to sell new condo asap and LL pay 4% SSD.
Adv is after I sell, buying a bigger condo my ABSD drop from 10% to 7%.

but now market no good to sell.
so Another thinking is to keep new condo and look to rent out. sell when time is good. this mean I pay ABSD 10% but I am ok to bite the bullet.

The bigger condo I aim now is around 1.5mil. I have around 40% of the cash on hand.
20% DP + 10% ABSD + lawyer fees + stamp duty etc is still managable.

key is where can I get to loan 80% of 1.5mil rather than 50%.
that why asking for advise here.

 

[Sinkie]

not difference league lah.
i saw you many ppty in jiu hu land. lagi more satki.

not trolling.
i also headache now.

new condo too small.
wife don't want to stay current HDB for too long.

So best option for me is to sell new condo asap and LL pay 4% SSD.
Adv is after I sell, buying a bigger condo my ABSD drop from 10% to 7%.

but now market no good to sell.
so Another thinking is to keep new condo and look to rent out. sell when time is good. this mean I pay ABSD 10% but I am ok to bite the bullet.

The bigger condo I aim now is around 1.5mil. I have around 40% of the cash on hand.
20% DP + 10% ABSD + lawyer fees + stamp duty etc is still managable.

key is where can I get to loan 80% of 1.5mil rather than 50%.
that why asking for advise here.

why dont sell your hdb??

 

[atamavision]

why dont sell your hdb??

prefer to keep HDB.
easier for rental.
and never know next time need to downgrade can chose to take back and ownself stay. ideally want to sell condo and buy bigger one.
seem like no way to get 80% loan for 2nd mortgage.
thanks anyway

 

[OngHuatHuat]

can any expert give some advise.

have a HDB, fully paid up and a condo with 750k loan. intention is to rent out HDB and stay condo.

condo just TOP but find the unit too small so looking to sell away and buy a bigger unit in the same project.

Not easy to sell as market is weak. so another way is to hold and rent out, although rental market weak as well. wife don want to stay in current HDB due to some personal reason.

was told by agent once ceveat lodged, no way I can negotiate with developer to exchange + top-up cash for a bigger unsold unit.

so 2 option now.
A) Wait to sell before buy.
lower ABSD and can loan up to 80%.

B) hold condo for rent/sell and meanwhile proceed to buy 3rd ppty.

problem is bank only loan max 50% since have existing loan. anyway to find bank to loan me 80%?.

not sure will I face TDSR issue as both condo mortgage payment add up should be around 70% of my job salary, but not yet include possible rental income from HDB and probably 2nd condo.

I have no big worry on servicing the 2 mortgage loan even if finally only HDB rent out and 2nd condo remain empty.

key is to get a bank to extend 80% loan for 3rd ppty.

is it possible?
TIA

btw, pls don suggest loan from along or any illegal means or loan with super hi interests ok. thanks

Your TDSR may burst if you opt for 80%, better double confirm first.

Another way would be put your wife name on that condo, but your wife needs to have at least the same earning potential like you.

http://www.moneysense.gov.sg/Life-Events/Buying-a-Home.aspx

No way you can get 80% loan if you have 1 outstanding loan on hand.

 

[atamavision]

Your TDSR may burst if you opt for 80%, better double confirm first.

Another way would be put your wife name on that condo, but your wife needs to have at least the same earning potential like you.

http://www.moneysense.gov.sg/Life-Events/Buying-a-Home.aspx

No way you can get 80% loan if you have 1 outstanding loan on hand.

if salary plus HDB monthly rental maybe ok to meet TDSR. if further add condo rental sure ok.

anyway since strictly 50% loan then dun need think so much.
thanks