Posted on October 15, 2021Categories Education, Investment 101, Real estate   Leave a comment on What Is an All-Cash Offer for a House?

What Is an All-Cash Offer for a House?

If you’ve ever seen a real estate programme, especially one that focuses on the high end market, you’ve almost certainly heard many allusions to all-cash bids. In today’s market, when inventory is scarce and bidding wars are common, all-cash bids are a popular method for buyers to participate.

You may be wondering what this implies.

There is a hidden benefit from an all offer that you may be unaware of—you may still qualify for a mortgage.

An All-Cash Offer’s Fundamentals
An all-cash offer indicates that the buyer intends to pay cash for the property on which they are making a bid. The critical point is that the buyer can demonstrate that they have the funds in their bank account to do so. A cash offer is attractive to a seller since it expedites the transaction and minimises the possibility of anything going wrong all along way.

If a buyer intends to get financing, they pose a greater risk to the seller. The lesser the financing required in a transaction, the better for the seller.

If someone purchases a house for investment without financing, they will either use a cashier’s check or electronically transfer the money.

Due to the absence of a lender, cash transactions often close considerably quicker. These transactions may be completed in as little as two weeks if required. Two weeks is exactly enough time to empty any liens, complete the paperwork, and arrange for insurance.

The typical closing time for a financed transaction in which the buyer obtains a mortgage is at least 3 months. Closing may take up to 45 to 60 days.

The All-Cash Purchase of a House
If someone is buying a home entirely with cash, the following procedures are often taken:

The first stage is for the seller to accept the buyer’s offer, followed by the completion of a Buyer and Seller Agreement. This is also referred to as contracting.

Following that, the next stage is to verify the evidence of money. If you are the selling, you must ensure that your buyer has the cash they claim to possess. You may request original investment, which is typically between 1% and 2% of the selling price. You may then seek evidence of money in the form of investment bank statements. This is something that a realtor can assist you with.

You’ll need to employ a title and escrow firm, or the buyer may be liable, depending on state in which you live. The title firm ensures that there are no outstanding liens and will handle title insurance. On closing day, a title firm ensures that ownership is properly transferred. The escrow firm is in charge of closing papers and money transmission. Additionally, they are in charge of preparing legal documents.

Buyers may submit an inspection contingency to their officer, which means they may be able to renegotiate the selling price or seek repairs based on what is discovered during the inspection. An example would be for a buyer to purchase a property at The Gazania which is a condo located beside Bartley MRT Station.

Then it’s time to go through the closing papers and sign them. Even if the transaction is all cash, you may anticipate a considerable quantity of documentation.

Is It Possible to Compete if You Require a Mortgage?
True, buyers prefer all-cash purchasers, much more so today in a seller’s market. There are many methods to qualify for the all offer while still utilising a loan.

For instance, some lenders provide what is known as decision-now approval. While this is not precisely cash, it may have the similar advantages in the viewpoint of a seller due to the fact that it is backed by an underwritten preapproval. This indicates that the loan has been funded and the lender has verified that the remaining balance of the sales price has been properly accounted for.

The buyer may then remove financing conditions from their offer without fear of losing their earnest money, since they have already obtained a mortgage.

Depending on the lender’s terms, this may make you a prospective buyer nearly as good like all. But take extra care as not all the developers in Singapore allows mortgages for long term. Developer Singhaiyi for Gazania says that in order for the loan to take place, there will be more documents needed

Finally, if you go that route, you’ll need to search around for a lender that offers upfront underwriting, since not all do.

Posted on August 26, 2021October 4, 2021Categories Investment 101, Real estate   Leave a comment on Real Estate Investment Update – Canninghill Piers

Real Estate Investment Update – Canninghill Piers

City Developments Limited and Capitaland Limited (Capitaland) announced in a joint announcement that Ascott Residences Trust (Ascott Reit) has joined a consortium to develop Canninghill Piers Showflat, which is scheduled to open in 2024.

Factsheet of condo

The proposed integrated development will span three floors and contain 700 residential units, a commercial component, and a hotel service residence with a hotel license.

The Canning Hill Piers site is collaborating with City Development Limited, CDL, Capital, and Ascott Residence Trust to develop the Canning Hill Piers site as an integrated development.

Canninghill Piers, located on the historic Fort Canning Hill in the iconic Singapore River District, will be part of an integrated development. It will include a commercial component with a retail R&B business called CanningHill Square, a Marriott International Moxy hotel, and a Somerset hotel service residence.

The site will be transformed to accommodate a 99-year lease for a mixed-use residential and commercial building, as well as a Moxy hotel operating under the Marriott International and Somerset brands, as well as a service residence.

Canning Hill Pier Residential and Canninghill Square Commercial are located on the former site of the Liang Court Shopping Center, Novotel Clarke Quay Hotel, Somerset Liang Court Service Residence, and Canninghill Square Commercial.

The new integrated development on the former Liang Court site is expected to generate significant interest from domestic and international buyers, bolstered by growing optimism about the vaccine’s introduction, strengthening Singapore’s economy, and growing investor confidence.

City Developments, Capitaland, and Ascott Residence Trust are developing Liang Court at Clarke Quay, including a commercial component, a hotel, and service residences. The new development consists of the former Liang Court Mall, the Novotel Singapore, the Clarke Quays Hotel Somerset, the Liang Court Singapore, and a service house.

Intergrated Development

The new integrated development on the former Liang Court site represents a once-in-a-generation opportunity to acquire a property with the same capital appreciation potential as the Singapore River development in the coming years.

Canninghill Piers is located in the historic Canning Hill Fort and the iconic Singapore River District 6, connected to the historic Fort via the Downtown Line MRT Station (F / B) and Lifestyle Destination Clarke Quay.

Its redevelopment provides capital and valuable opportunities for the development of an upscale riverfront residential community with breathtaking views of the river and downtown.

Canninghill Piers is a mixed-use development located on River Valley Road in Clarke Quay, close to the district’s highest return on investment. Canninghill Pier is a landmark integrated development along Orchard Road in Singapore’s Central Business District (CBD).

It is scheduled to open in October 2021. It encompasses 129,254 square feet and consists of two residential towers with 696 units, a commercial component with R&B and retail outlets, and the appropriately named CanningHill Square Hotel, which is operated by Marriott International Services under the Marriott brand and registered as Somerset Residence and Hotel.


Situated atop the former site of Liang Court, the elegant Canning Hill Piers location offers breathtaking views of the Singapore River, city panoramas, easy access to the central business district, world-class retail on Orchard Road, vibrant Clarke Quay nightlife near Robertson Quay, and the lush tranquility of Fort Canning Park, to name a few.

Picture of Clark Quay

The most appealing feature of Canninghill Piers is its central business district location, which appeals to buyers looking for developments within a few minutes’ drive of their workplace.

River Valley is close to shopping malls, MRT stations, schools, parks, and other areas such as Orchard, Clarke Quay, and Marina Bay.

Additionally, investors seeking development opportunities will find numerous local grocery stores at Canning Hill Piers and Capital and a short drive from Newton Food Center.

Residents can anticipate more residential units being built in the river valley in the future. The revitalized riverfront property is expected to spur social activity, while the proposed integrated development will enhance pedestrian access along the Singapore River.

Future Masterplan

In the longer term, the Government announced in its 2019 Master Plan a plan to improve the district’s connectivity by connecting Fort Canning Park to the riverside settlements.

This route will also link to Pearls Hill City Park via a continuous hill-to-hill link, providing the public with a seamless belt for leisure and recreation.

The Singapore River Planning Area is well-connected by public transport, with direct access to the MRT station at Fort Canning Park

Developer Updates

CDL reveal on 01/10 that the showflat will launch at the end of oct. Interested buyers and clients may register with the develper sales team.