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Good afternoon upgrader,

Yes you are right. In fact, you do both transactions concurrently. Dispose off your HDB first and lengthen the whole sale process. With this, you will be able to obtain 80% bank loan or even bridging loan for your purchase and dont have to find temporary accommodation before moving into condo.

Then try to shorten the whole purchase process so you have sufficient time to renovate as well.

If you dont want to wait that long till 2019 to 2021, probably you can look into other projects that are nearby your current choice.

Hope my opinion aids in your decision making.

If you need further assistance or advice in your upgrading plans, feel free to contact me. 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 
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(W): www.propertyavenue.com.sg Read More

Hi,

Unfortunately yes, to secure a max 80% loan for your condo, you need to have sold your HDB, as current policies dictate that you can only get up to 80% bank loan for your 1st housing loan.

Is this under-construction project your only preferred choice and you definitely need 80% max bank loan? If so, you can consider to sell your current HDB first, rent for 2-3 years, while waiting for condo to TOP.

If you are flexible with your condo options, you should opt for resale properties (or projects closer to TOP), such as that you can do both sale (of HDB) & purchase (of condo) concurrently. A professional agent would be able to manage your timelines professionally and ensure you have a hassle-free transition with a detailed financial plan.

May I understand your requirements further so I can value-add better to your plans? Hope to have the opportunity to work with you. Thanks and please get in touch so we can discuss further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
CEA Registration Number: R052114D
ERA Realty Network: L3002382K
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Evening,

Since you require the funding that have being locked in your HDB to facilitate the purchase, it would be ideal to market your HDB unit first when it's nearer to MOP. You can also hunt for suitable unit that will TOP soon or have already collected the keys. We can then proceed with the financial planning once we have secured a buyer.

Do contact me should you require my assistance.

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

Dear upgrader,

If you have already decided for good that you are only interested in that project, I am afraid the only possiblies are:

1) Sell your existing HDB upon meeting MOP first before making a purchase of the condo, and rent an apartment on the interim basis while waiting for TOP.

2) Hold on to your HDB until the project is due to TOP and hope that there are balance units available which appeal to you before selling and purchasing and work out on the timing for such a move to avoid disruption.

As we are expecting a slew of upcoming projects achieving TOP status in the coming years, perhaps you can spend sometime in researching these projects to see if you are interested and make your move accordingly.

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Regards,

Geryl LIM
Real Estate Director
Global Alliance - Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
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