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Hi,

Sell & purchase can be done concurrently, but the important thing is to manage both timelines carefully so that your CPF proceeds can be utilized fully to fund the resale EC purchase. Also, with current market sentiment, it is advisable to secure a buyer offer first before purchasing.

Typical breakdown for condo purchase for local citizen household as follows:
Cash 5%
CPF 15%
Max bank loan 80%
Stamp duties + legal 3%

If the loan can't get 80%, or if you take a lower loan, the shortfall has to be funded either by cash/cpf.

I'm quite active in Tampines, may I meet up with you to understand your requirements further so as to value-add further to your housing plans? Thanks and hope to have the opportunity to work with you.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
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Hi, due to the weak market sentiment, it would be better for you to dispose of your current unit first before you purchase the next EC. I would be glad to assist you further and also to email you the breakdown of the financial calculations for the selling and the buying of the next unit.

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

Hi there!

Thanks for your query!
The sale & purchase can be done concurrently, hence, it is important to sell off your unit first to be able to fully utilize your CPF proceeds from sales to fund the resale EC purchase. The general cash outlay would be 20%- 5% Cash, 15% CPF. Within 8 weeks of the S&P.

I deal mostly with ECs and am extremely familiar with the procedural framework, purchase timeline and utilization of CPF proceeds/funds. I had a client, with a similar dilemma recently, and I advised him accordingly for his EC purchase after the thorough preliminary checks and calculations. The 2nd testimonial in the following link illustrates how I went about assisting him in a step by step and systematic manner : http://www.kumarrai.com/agent-page/88280/testimonials

Perhaps we could schedule a non obligatory discussion for me to gain greater perspectives on your finances on hand to draw the financial plan; factoring in the amalgamation of sales proceeds and likely purchase price to narrow down some target units in the EC. This will give greater clarity. Do visit my website for my recent division awards and testimonials. Look forward to hearing from you!

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com ( Recent Awards and Testimonials)

#1 team of ERA in Singapore, Asia Pacific International for 2014.

ERA 2015 Q1 Top Achievers (Top1% of ERA)
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2014 ERA Asia-Pacific Business Conference Elite Award

P Group
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Good evening upgrader,

you can choose to do both transactions concurrently but there are more supply than demand in the resale HDB market at this moment, I will advise you to put your HDB for sale first while looking for a resale EC at the same time. Only commit to a purchase when the buyer exercises on your sale OTP.

But before we proceed, we shall have a good idea what will be your budget which will take into consideration of your potential sales proceeds and finances on hand (cash and CPF OA funds).

As you want to utilize the funds from your sale fully, we have to time both transactions carefully so you don't have to even find a temporary accommodation before moving into the resale EC.

Meanwhile, purchase of resale EC is the same as private property. I can forward you a flowchart to give you a better idea.

But in short if you are able to take up 80% loan, your initial outlay will be as such:

1) 5% cash downpayment
2) 15% CPF or cash downpayment
3) estimated 3% buyer's stamp duty
4) no ABSD (if you sell before purchase)
5) $3k legal fees
6) $500 stamp duty for mortgage

Hope my explanation helps!

Hear from you soon so I can be in a better position to advise you. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com
(W):www.propertyavenue.com.sg Read More

Hi,

Re: Property upgrader

We can assist you for the upgrading of your new property

We are contactable at 92222389  or onassis@sgrealtor.com.

Onassis Gan Eng Joo - CEA Reg No.: R021244C
CES Certified SG Realtor l SGRealtor.com
agent.myweb.sg (PropertyGuru) / agent.irealtor.sg (iProperty)

SG Hotline: +65 9222 2389 
Email: Onassis@sgrealtor.com
Skype: incomecare

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Hi,
You can buy the EC then sell hdb with 6 months. Base on the current market conditions, best is to sell before buy to avoid the stress later.

The cash flow for private condo are,
Cash 5%
CPF 15%
Max bank loan 80%
Stamp dutey around 3%
Legal fee around 3K

To assist and advise you more, kindly drop me an email for me to share.

I can be contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More

Dear Sir/Mdm,

I stay in Tampines as well! It is a good estate to stay in with plenty of upside potential in the near future according to the new Masterplan.

The key considerations you should be looking at:

1. Detailed Financial Plan
- from the financial plan you will be able to understand whether is it better to buy the resale EC and then dispose off the property or vice versa.
- You will be able to have an idea of the amount of CPF and Cash after the sales of your HDB and also the amount of CPF and Cash you will be able to get back in your pocket after the purchase of the EC.

2. Time-line for sale and purchase
- You will need to work out the time-line so as to minimise the transition process. You may need a temporary shelter in between for a few months but we try to plan it in such a manner that the transition can be as smooth as possible

3. Choices of resale EC / Condo units available
- Do contact me for analysis and potential of the different condo units available in Tampines area.

Feel free to contact me for a chat!

Nick Tan +65 9644 4854 
nicktan@propertyavenue.com.sg
B.Eng(Chemical)(Hons)(NUS)
Property Avenue Pte Ltd
http://www.nick-tan.com

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Afternoon,

Depending on your financial standing, you can opt to buy first and sell later or do it concurrently. As to how much cash is needed will depend on how much loan you can get and how much additional CPF do you have in your OA.

Do contact me further for discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More