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Good morning Eric,

You will receive your sales proceeds in cash if you dont have any outstanding loan and never use CPF OA funds in existing flat when you sell it.

You are eligible to use your sales proceeds to buy another resale HDB either by contra or time your transactions properly.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

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Good morning Eric,

If there is no home loan or cpf utilized, you will receive all your sales proceeds in cash.

You can port them over and it can be used for the next purchase, either via contra or timeline coordination of both sale & purchase. I have assisted various clients on the same, hope to collaborate with you on the housing plans.

May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

SEAA Salesperson Achievement Award 2021 (Gold)
SEAA Singapore Accredited Mortgage Planner (SAMP)

ERA Top 93th Achiever for Full-Year 2020 (Top 1.5% Company Level)
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-- HDB Executive Maisonette Sellers, Mr & Mrs Yeo --

Before contacting Ivan Ng, our Property Realtor, we were quite apprehensive about our Contra-deal ( concurrent resale & purchase of HDB flats) as at that time the outlook of the resale property market was quite sluggish & pessimistic. But surprisingly our property realtor, Ivan , was able to put us at ease with his professional competence, astute work experience & friendly nature . He was able to consummate our contra-deal within one month of our HDB application. Now we are convinced by his promise that (in Ivan's own words) ... "A contra-deal is where the sale & purchase transactions are done concurrently and completed on the same day. This results in a seamless transition of the funds from your sale proceeds and CPF proceeds towards your purchase price." More importantly Ivan has also managed to clinch a good deal for our contra-deal. We'll certainly recommend him to our kins & friends. Thank you very much, Ivan. We are definitely your satisfied customers!

-- HDB Toa Payoh 5-RM Sellers of Million-Dollar HDB, Mr. & Mrs Leong

We were fortunate to have met Ivan Ng. He was thorough in going through what the complicated home-selling process required of us and more so in understanding what we would like to achieve from the sale of our unit. His responsiveness and assurance, was a trait that we really appreciate. We managed to secure a sale that exceeded our expectation with Ivan’s advises. The offered price for our unit was a record set for the flats in the neighborhood. This was definitely supported by the fact that Ivan’s listing of our unit was detailed and stood out from other listings. Because of this, we also engaged Ivan's service to help us search and buy our new resale home. After some searches and viewings, we managed to secure one at a reasonable price with his help. With Ivan’s cheery and positive demeanour, selling our unit to procuring a new one, was a smooth journey for us. It was a pleasure to have worked with him. Read More

Hi Eric,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, in your case you will be receiving the full sale proceeds in cash in the form of cashier order to your name.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi Eric,

1. If there are no outstanding loan and no CPF usage, the sale price of the flat will be the sale proceeds going back to you in cash. If you have never applied for CPF housing grant before then you will be eligible to apply when you purchase the next flat.

2. Yes it is possible, however we will need to calculate whether it is sufficient to pay off the flat fully or if you need to take a loan to finance the purchase.

Selling and buying a flat concurrently requires planning in terms of your timeline and finances so that you are able to transit smoothly and seamlessly from your current flat to the next one without the need for an interim housing solution.

I have assisted many of my clients who are in the same situation to transit smoothly. Please feel free to contact me so that I can understand your situation and help you to plan the finances and the timeline.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020

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“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
Peter & Wendy (Property Seller)

I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
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“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations. We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the co Read More

Hi Mr. Eric Yeo,

1) The HDB will issue you a cashier order bearing all owners' names.
2) You will have to deposit it into a joint account with all owners, or if you are the sole owner then you can deposit it into your own account.
3) You shall be able to get the cash once it is successfully processed by the bank.
4) Yes, you may use all your sale proceeds for your next purchase.
5) If the timeline can be matched, you may apply for an enhanced contra facility so that the sale proceeds can be utilized without the hassle of deposit and withdrawal.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636 , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Hi, I am Brendan!

Your cash proceeds will be given to you in cash and you can use the cash proceed for your next home.

It will be much more straightforward for me to explain to you in details over the phone.
Pls contact me at 9754 5207  or wa.me/6597545207.

Thank you!
Brendan Bay, ERA
 9754 5207 
wa.me/6597545207 Read More

Hi,

As you had already fully paid for the flat and did not utilise any CPF funds for the flat, you will receive your sale proceeds in full Cash.

As for your next purchase, you can opt to do contra for the sale and purchase, or you can also plan your sale and purchase Timeline accordingly, so that you can ensure a smooth transition to your new place with minimal hassle.

You can use your full sale proceeds to pay for the new flat, without the need to set aside Basic Retirement Sum from your Cash sale proceeds.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305 . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More