If you are looking for an executive condo in Singapore, you’ve come to the right place. AskCondo helps you zoom in on the ideal EC (Executive Condominium) for sale in Sinapore. AskCondo brings you the best Executive Condo which is available for sale and resale. We list all necessary information like total units, number of available units, completion date, amenities and description so homebuyers can take a quick decision.
We understand the importance of having a comfortable home. We also understand how difficult it can be to find right facilities to the right executive condo price, that’s why we try to bring you the best of everything you want.
AskCondo works with numerous real estate agencies to showcase the best executive condominiums in Singapore. We are here to help you, if you have any question or seeking more information about any of the property listed here please get in touch with one of our agent.
Singapore has the biggest hype for real estate sector, especially when we talk about the Executive Condo. EC is the class of housing option that regales to the middle-income families. This scheme is for the Singaporeans who can afford more than HDB flat but finds that private condominiums are too expensive to buy.
If you’re looking for an Executive Condominium for sale or resale then you are at the perfect place. AskCondo helps you look into the different schemes that are available for you and helps you find the best out of everything you want when buying an Executive Condominium.
We work with a large number of real estate agencies and show you the best Executive Condos in Singapore which are comparable to the private condominium; Nowadays EC’s are boasting better designs and facilities than private condominiums in the market. So, if you are looking for your dream Executive Condominium for sale in Singapore then we are here to help you. So, start looking, a perfect condo for you is close by!
If you’re thinking of buying an executive condominium for sale, but you’re unsure of the process? Then it is necessary to know that if you are seeking to buy your own executive condo then you have to fulfill some criteria’s then only you are eligible to buy a condo of your own.
To qualify the eligibility criteria, the applicants need to be 21 years old.If a person is applying under the Joint Single Scheme then a minimum age of the person should be 35 years and one of you must be either a Permanent Resident or Singapore Citizen.
Your gross monthly household income cannot exceed $14,000, thus you need to fall under the following HDB eligibility schemes:
Before buying a condo you should know the financial status of your home. When you buy a home it isn’t just about purchase prices, it includes other costs and taxes also that you need to consider before making a decision.
If you’re thinking of taking a loan then approach a bank and get yourself an API (Approval-in-Principle) that will set out the number of the bank that will loan you and your monthly mortgage payments.
Consider various fees and resale imposes. If you’re getting an executive condominium for sale then you will not have an option for an HDB loan such that you’ll have to secure a loan from the bank.
You can cover up 80% of purchase price of the condo by using your loan and at the end you will have to pay 20% of purchase price of the property, it can be in a mixture of CPF or cash savings.
Once you are done with deciding EC, down payment, unit type, and price you should go for signing the agreement of “Option to Purchase”. This will give you an exclusivity period of 14-days to decide whether to buy the property or not. In this times seller is not allowed to offer the property to other buyers and usually 1% of purchase prices are given as the deposit.
If you have decided to buy the EC and want to skip the option of purchase, you can bypass that stage by directly going with the “Offer to Purchase” in which 5%-10% deposit is given to secure the condominium.
When you are buying a new Executive Condo in Singapore, you will have to submit some necessary documents to prove your citizenship and financial capability. This includes the following documents:
To complete the procedure, one last step involved in buying EC is the finalization of “Sale and Purchase Agreement”. In this step home loan takes place and it takes about 10 weeks to complete a whole procedure.
Buying an Executive Condo in Singapore might be a bit complicated but by the use of above mentioned guidelines, you can get a clear vision of whole process and requirements that are supposed to be fulfilled on buying subsidized properties.