Asked by Mr. Martin Loo
For fully paid HDB, can I apply for contra facility if purchasing a new BTO?
2 views
3 Answers
Hi Martin,
Do you mean your current HDB is fully paid? And you intend to fully pay your new BTO flat as well?
If so, there is a possibility contra facility may be possible. But it depends on your age, potential CPF refund needed, and whether any loan is still on the current property.
Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 home-owners to smoothly complete their housing plans over the years. Please reach out to me at (65) 9 7 4 3 2 3 9 5 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
ERA Senior Marketing Director
ERA Multiple Diamond Achiever
SIEA's Salespersons Achievement Award (Platinum) 2025
SEAA Salesperson Achievement Award (Gold)
SEAA Singapore Accredited Mortgage Planner (SAMP)
ERA Top 44th Achiever for Full-Year 2025 (Top 1% Company Level)
ERA Top 226th Achiever in 2nd Quarter 2025 (Top 3% Company Level)
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)
SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.
Contact: (65) 9 7 4 3 2 3 9 5
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
WeChat: ivanng10
FB: fb.com/IvanNgRealtor
W: https://propertyportal.era.com.sg/agent/detail/R052114D
(Client's Testimonials)
CEA: R052114D
**Note: System does not prompt us when you respond here, hence please get in touch directly thanks!**
-- 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.
-- 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 Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --
I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and Read More
Do you mean your current HDB is fully paid? And you intend to fully pay your new BTO flat as well?
If so, there is a possibility contra facility may be possible. But it depends on your age, potential CPF refund needed, and whether any loan is still on the current property.
Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 home-owners to smoothly complete their housing plans over the years. Please reach out to me at (65) 9 7 4 3 2 3 9 5 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
ERA Senior Marketing Director
ERA Multiple Diamond Achiever
SIEA's Salespersons Achievement Award (Platinum) 2025
SEAA Salesperson Achievement Award (Gold)
SEAA Singapore Accredited Mortgage Planner (SAMP)
ERA Top 44th Achiever for Full-Year 2025 (Top 1% Company Level)
ERA Top 226th Achiever in 2nd Quarter 2025 (Top 3% Company Level)
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)
SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.
Contact: (65) 9 7 4 3 2 3 9 5
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
WeChat: ivanng10
FB: fb.com/IvanNgRealtor
W: https://propertyportal.era.com.sg/agent/detail/R052114D
(Client's Testimonials)
CEA: R052114D
**Note: System does not prompt us when you respond here, hence please get in touch directly thanks!**
-- 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.
-- 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 Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --
I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and Read More
As per HDB's website:
When you buy a flat from HDB and sell your existing flat, the Contra Payment Facility can help you to:
- Reduce the cash outlay needed for your booked flat
- Reduce the housing loan amount needed and the subsequent monthly repayments
- Collect the keys to your booked flat and renovate it while selling your existing flat
To qualify for the Contra Payment Facility, you must have:
- Booked a flat and received an invitation to collect the keys
- Applied to sell your existing flat
You must be:
1) Eligible for a housing loan from HDB, and are using it for your flat purchase
2) Able to cover the full purchase price of the flat using the following funds:
- CPF Ordinary Account balance
Cash and CPF proceeds from the sale of your existing flat. You may retain up to $20,000 from the CPF refund.
- Maximum housing loan from HDB that you are eligible for following credit assessment
If the funds above are insufficient, you must be able to top up the shortfall within the time period HDB provides, before the request for the Contra Payment Facility can be approved
-------
Are you in the midst of planning for a property move?
I'm a Harvard graduated real estate agent with a degree in economics, and I have a decade of experience working on Singapore public policy. I would love to schedule a free consultation to discuss your options if you need any support.
Please reach out via my whatsapp or email below:
Kay Cloud
The Harvard Educated Agent
Propnex Realty Pte Ltd
cloud@propnex.com
Tel: (+6.5.) 8.5.6.7.4.5.8.5
Whatsapp -> https://wa.me/6585674585 Read More
When you buy a flat from HDB and sell your existing flat, the Contra Payment Facility can help you to:
- Reduce the cash outlay needed for your booked flat
- Reduce the housing loan amount needed and the subsequent monthly repayments
- Collect the keys to your booked flat and renovate it while selling your existing flat
To qualify for the Contra Payment Facility, you must have:
- Booked a flat and received an invitation to collect the keys
- Applied to sell your existing flat
You must be:
1) Eligible for a housing loan from HDB, and are using it for your flat purchase
2) Able to cover the full purchase price of the flat using the following funds:
- CPF Ordinary Account balance
Cash and CPF proceeds from the sale of your existing flat. You may retain up to $20,000 from the CPF refund.
- Maximum housing loan from HDB that you are eligible for following credit assessment
If the funds above are insufficient, you must be able to top up the shortfall within the time period HDB provides, before the request for the Contra Payment Facility can be approved
-------
Are you in the midst of planning for a property move?
I'm a Harvard graduated real estate agent with a degree in economics, and I have a decade of experience working on Singapore public policy. I would love to schedule a free consultation to discuss your options if you need any support.
Please reach out via my whatsapp or email below:
Kay Cloud
The Harvard Educated Agent
Propnex Realty Pte Ltd
cloud@propnex.com
Tel: (+6.5.) 8.5.6.7.4.5.8.5
Whatsapp -> https://wa.me/6585674585 Read More
Hi, appreciate your sharing over PropertyGuru, looking for 4 room or 5 room HDB ? Yes you can, can apply BTO first and await toward key collection before plan for the sale of current unit.
Looking forward to assist you at WhatsApp +65 9696 4398 or email me at stewartlim96964398@gmail.com
Cheers
Stewart Lim
PropNex Senior Associate Division Director Read More
Looking forward to assist you at WhatsApp +65 9696 4398 or email me at stewartlim96964398@gmail.com
Cheers
Stewart Lim
PropNex Senior Associate Division Director Read More