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Hi, appreciate your sharing. Able to work out the breakdown before considering the purchase.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

Hi,

Yes it is possible if you have sufficient funds on hand. If you manage to get a queue number to select an unit, and eventually sign Agreement for Lease, your max outlay will be 10% downpayment, approx 3% buyer stamp duties and admin fees for the near term. Assume you get a new BTO at 500k, that will mean you need to have approx 65k (mix of cash + CPF OA available) by the time you book the unit several months after your BTO application (assuming you get good q number to choose). From the info you have shared, if previously you also have not enjoyed any subsidized housing, then there will be no resale levy since this new BTO application is considered your first subsidized flat purchase.

When the new BTO is ready, you will need to sell your existing flat and time it such that the sale proceeds will come back in time to complete your BTO key collection and balance payment. Timing coordination is key here otherwise you may have to move to temporary place in the interim before moving in to the new BTO.

Do both of you also have your full retirement sums met? I suggest to just go for the BTO application first, if you manage to get an queue number then plan from there the best way out. Because its not easy to get a decent queue number for a choice unit also.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Multiple Diamond Award Achiever

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

ERA Top 11th Achiever in Feb 2024 (Top 1% Company Level)
ERA Top 64th Achiever in March 2024 (Top 1% Company Level)
ERA Top 37th Achiever in Oct 2023 (Top 1% Company Level)
ERA Top 93th Achiever for Full-Year 2020 (Top 1.5% Company Level)
ERA Top 11th Achiever in June 2020 (Top 1% Company Level)

SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.

Contact: (+65) 97432395 
Whatsapp: wa.me/6597432395
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
WeChat: ivanng10
FB: fb.com/IvanNgRealtor
Web: ivanng10.com/clientreviews
(Client's Testimonials)
CEA: R052114D

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! ** Read More

Hi,yes it is possible as long as you have sufficient CPF and cash available on hand. Like Ivan broke down, it is best to go apply for BTO first, as it is not easy to get a queue number which you may like..

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me .

https://www.era.com.sg/R064892F

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
97 39 60 40
landonchew@email.com Read More

Hi Sir,

If your previous flat is purchased without any housing grant or subsidies, then you are not liable for any resale levy and you will be considered as a first timer.

I have many clients who are in the same situation as you and wife, to downsize to a new smaller BTO flat from a bigger HDB unit. It is possible to time the sale of your current house with the key collection so that you can transit smoothly into the new house without the need for an interim housing.

Before applying for the BTO, we will also need to calculate to see whether your sale proceeds is sufficient to cover the new BTO flat, if not we may need to appeal to CPF board to use some of the CPF.

Please feel free to contact me so that I can gather more information from you and assist you with the calculation so that I can advise you better!

Regards,
Nick Tan
(M) +65 96 44 48 54
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

SEAA Salespersons Achievement Platinum Award 2020/2022/2023

WhatsApp: https://wa.me/qr/X6VRPGSSIHN5D1

Visit my website to get to know me better:
www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

Testimonial from Satisfied Clients

“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.
Weilun & Benita (Property Seller)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“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 Read More

## BTO Flat Purchase with Existing Flat (Summary):

**Financial Requirements (Before BTO Selection):**

* Sufficient Funds:
* 10% down payment (cash + CPF OA)
* Approx 3% Buyer's Stamp Duty
* Admin fees
* Total upfront cost (example): $65,000 for a $500,000 BTO (assuming good queue number)
* No Resale Levy (if this is your first subsidized flat purchase)

**Process Timeline:**

1. Apply for BTO (and get a good queue number)
2. Secure funds for down payment, stamp duty, and admin fees
3. Select BTO unit and sign Agreement for Lease (few months after application)
4. Sell existing flat (timed to coincide with BTO key collection and final payment)

**Important Note:**

* Proper timing is crucial to avoid needing temporary housing between selling your existing flat and moving into the new BTO.
------------------

"If you need more assistance with property matters:

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

WhatsApp me at: ABLE Toh>>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

Dear sir,

Before we explore further into the possibility of purchasing a new BTO 4 room, I believe there must be a reason for you to do so. Do you plan to pass down the property to your children in future, thus acquiring a fresher lease unit will put them in better situation in future?

With existing situation on your financial flow, it is still possible to purchase a BTO as long as you have the necessary finances up front for the downpayment as well as stamp duties, given that you have not enjoyed any housing grants before. There will also not be any resale levy applicable. The remaining funds can be paid later when approaching TOP. To work out the financial calculations, we will also need to find out if you have already met your FRS in both your CPF RA, how much funds will be refunded back to both your CPF from the sale of the existing property to look into how the next flat can be financed and its feasibility.

The answers are not as straightforward since there are various numbers to consider. If your plans are to downsize only, the more straightforward option will definitely be resale flats, where you can downsize to a fully paid property, with some cash on hand for retirement.

I have been in the real estate business since 2009, with more than 14 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Senior Division Associate Director
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
 +65 92787772 
www.geryllim.com

My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

-----

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HDB Questions
Asked by l***@yahoo.com 10 May 2024
Currently owning a resale 5 room hdb flat in Tampines (both myself and wife are co-owner).The purchase of this 5 room in year 2000 is using CPF (together with hdb loan) and didn't enjoy any subsidies since it is a resale unit. The 5 room loan is fully paid 9 years ago and no outstanding loan. Now looking to buy new BTO 4 room flat under me and wife. Reaching age 65 and not working, so can't take loan for the new BTO. As most of our CPF is locked in the current resale 5 room, is it possible for us to buy the new BTO? Concern is timing on when to sell resale and remaining 90% to be paid upon collection of key for new BTO. Also, do we need to pay resale levy, considering we have never had obtain and subsidy before.
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6 Answers
Stewart Lim
Stewart Lim
Replied 10 May 2024

Hi, appreciate your sharing. Able to work out the breakdown before considering the purchase.
Looking forward to assist you at 9696 .... or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director)
Upvote
Ivan Ng
Ivan Ng
Replied 10 May 2024

Hi,

Yes it is possible if you have sufficient funds on hand. If you manage to get a queue number to select an unit, and eventually sign Agreement for Lease, your max outlay will be 10% downpayment, approx 3% buyer stamp duties and admin fees for the near term. Assume you get a new BTO at 500k, that will mean you need to have approx 65k (mix of cash + CPF OA available) by the time you book the unit several months after your BTO application (assuming you get good q number to choose). From the info you have shared, if previously you also have not enjoyed any subsidized housing, then there will be no resale levy since this new BTO application is considered your first subsidized flat purchase.

When the new BTO is ready, you will need to sell your existing flat and time it such that the sale proceeds will come back in time to complete your BTO key collection and balance payment. Timing coordination is key here otherwise you may have to move to temporary place in the interim before moving in to the new BTO.

Do both of you also have your full retirement sums met? I suggest to just go for the BTO application first, if you manage to get an queue number then plan from there the best way out. Because its not easy to get a decent queue number for a choice unit also.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 9743.... for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Multiple Diamond Award Achiever

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

ERA Top 11th Achiever in Feb 2024 (Top 1% Company Level)
ERA Top 64th Achiever in March 2024 (Top 1% Company Level)
ERA Top 37th Achiever in Oct 2023 (Top 1% Company Level)
ERA Top 93th Achiever for Full-Year 2020 (Top 1.5% Company Level)
ERA Top 11th Achiever in June 2020 (Top 1% Company Level)

SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.

Contact: (+65) 9743....
Whatsapp: wa.me/6597432395
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
WeChat: ivanng10
FB: fb.com/IvanNgRealtor
Web: ivanng10.com/clientreviews
(Client's Testimonials)
CEA: R052114D

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **Read More
1
Upvote
Landon Chew
Landon Chew
Replied 10 May 2024

Hi,yes it is possible as long as you have sufficient CPF and cash available on hand. Like Ivan broke down, it is best to go apply for BTO first, as it is not easy to get a queue numb Read More

## BTO Flat Purchase with Existing Flat (Summary):

**Financial Requirements (Before BTO Selection):**

* Sufficient Funds:
* 10% down payment (cash + CPF OA)
* Approx 3% Buyer's Stamp Duty
* Admin fees
* Total upfront cost (example): $65,000 for a $500,000 BTO (assuming good queue number)
* No Resale Levy (if this is your first subsidized flat purchase)

**Process Timeline:**

1. Apply for BTO (and get a good queue number)
2. Secure funds for down payment, stamp duty, and admin fees
3. Select BTO unit and sign Agreement for Lease (few months after application)
4. Sell existing flat (timed to coincide with BTO key collection and final payment)

**Important Note:**

* Proper timing is crucial to avoid needing temporary housing between selling your existing flat and moving into the new BTO.
------------------

"If you need more assistance with property matters:

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

WhatsApp me at: ABLE Toh>>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

- Purchasing a new BTO (Build-To-Order) flat is possible if you have enough funds.
- You'll need a queue number to select a unit and sign an Agreement for Lease.
- Initial costs include a 10% downpayment, around 3% buyer stamp duties, and admin fees.
- For a BTO priced at $500k, you'll need approximately $65k in cash and/or CPF (Central Provident Fund) Ordinary Account savings.
- If you've never received housing subsidies, there's no resale levy for your first subsidized flat purchase.
- Timing is crucial when selling your current flat to fund the BTO purchase.
- It's important to ensure your full retirement sums are met in your CPF Retirement Account.
- Applying for a BTO is recommended, as getting a good queue number is challenging.
- Assistance from a property agent can be beneficial.
- Downsizing to a new BTO can be a strategic move for the future, especially if you plan to pass it on to your children.
- Financial planning is key, considering downpayment, stamp duties, and future payments.
- Resale flats are a simpler option for downsizing if you prefer a fully paid property.
- The agent has extensive experience in the Singapore real estate market since 2009.
- They specialize in residential properties, from HDBs to private condos and landed properties.
- The agent has a wide network, including over 9,400 expatriates, and uses both conventional and unconventional marketing strategies.
- Continuous learning and adaptation to market changes are emphasized.
- A free, no-obligation first consultation is offered to potential clients. https://wa.me/6583004411 Read More