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Hi, recently my friend and I are looking at co-buying a commercial property to invest. But being first time buyer, there are some questions that stumbled upon us and hope to be able to seek resolutions.

1. The property that we are looking at has a lease of 30years, TOP in 2012. At the end of the 30years, if happened that we do not have the option to lease further, what will happen to the property? Give back to developer/government with or without returns?

2. My friend currently has a business, and is considering whether to use his personal name or his company's name to co-share the property. Will there be a difference in both when we apply for the loan for the property? I have an annual income of about $100K while my friend has only recently started to "CPF" his income, thus on record is a low income earner for past one year.

3. What will be the difference between me being a 3rd party guarantor versus a principal owner?
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6 Answers

Steven Chua
Replied
Hi Eric,

You may wish to check with the developer if the project has a lease of 30 years or if there is an option to extend which some projects offers. If its 30 year lease, the land reverts back to the authorities upon the expiry of that term.

When buying under personal name, you will have to take into consideration that the selling price will incur a GST if your seller is registered as a GST trader.

On the credit assessment for your loan financing, I may help you get a banker to assist in your queries.

I may be contact via stevenchuahk@erasingapore.com.sg should you require more information.

Best regards
Steven Chua Read More
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Yian Tay
Replied
hi Eric, 30yr lease term property also affects your ability to take up financing. But I do urge you to speak to the bank regarding this.

There are options available if using an established company.

If you are using this as an investment vehicle, you may wish to register a separate company, as if your friend's company or business runs into trouble for unknown circumstances, you would be implicated even if the property is held by tenants in common (as oppose to joint tenants).

As for your third query, are you referring to guarantee of the loan?

To further advise you,
Please contact me directly to answer your queries.

Cheers,
Yian Tay
ERA Realty
Mobile: 82003493 
Email: yiantay@hot-property.sg Read More
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Catherine PANG
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Invest in SOHO, Traffic Oriented Development , NE5 MRT, Good Rental Traffic/call 96804288  www.catherinepang.com Read More
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Koh Zhen Hon
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Hi,

Regard to your question. Why not you just drop me an email at ot1984pierre@gmail.com or Contact me @ +65 8 2 7 9 8 3 2 7

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Koh Z H
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Able S.K Toh
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XXXXX The End XXXXXXX Read More
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Able S.K Toh
Replied
------------------

"If you need more assistance with property matters:

like renting / selling, buying / or investing, I'm here to help!

WhatsApp me at >>9856 9255 or through this link.:https://wa.me/6598569255.

(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )

You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: (+65)>>9856 9255>> or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT ：）

“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”

XXXXX The End XXXXXXX Read More
1
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