I have a question about the practicality of selling and re-buying property here in Singapore...
Here's my area of confusion: We have an Exec condo that we live in and want to move to another property that is bigger (expanding family). In the UK, I know you can arrange the contracts and movement of the funds from the property you are selling to the purchase property to all settle on the same day. Here with the deposit / payment process i am wondering how practically people do things...
Do you arrange the sale first, then move into rental for a short term whilst settling on the purchasing property?
Do most people move back in with family whilst everything is being processed?
Can you settle both in the same few days making it just the initial deposit and subsequent 9% etc etc the sticking point?
Do you arrange a bridging loan to secure the purchase property and sell to ease the burden of time?
Looking forward to some input, there must be a standard way people sell and re-buy here, I am just trying to find out which way most do it...