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Dear sir/madam,

Typically for HDB resale purchasing using bank loan arrangements, the COV portion will only need to be ready approximately 2-3weeks in advance of completion. The difficulty is usually lying on the timeline of completion for your sale and purchase as you'll require your cash proceeds from the sale of your existing place to be available for purchase. This is where an experience realtor can come in to help in planning the timeline. I have been involved in such scenario in my latest completed transaction and am currently helping another client manage similar requirements.

If you wish to explore further with your intention, perhaps it will be advisable if I am able to have more information pertaining to your requirements to work out something feasible. What's more, I would also like to share with you a checklist designed by my team of dedicated salesperson who have numerous years of experience in this industry. This checklist is designed to try assist our exclusive partners achieve a better valuation wherever possible.

Let me know when will be a good time for further discussion.

Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More

Hi Puzzled,

You definitely need to come up with cash for the 5% downpayment and COV portion. But this cash component can come from the sale proceeds of your existing house. So in a way you can say that you need not come up with cash from your own savings.

When you are doing selling and buying concurrently, depending on the timeline of both transactions, you may need to find a temporary accomodation.

Please call me at 98628691  to discuss further.

Thanks.
Ander DTZ Read More