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Hi Ripsta,

For your situation, normally you can go for Contra which means you sell and buy at the same time.

Information on Contra:
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatECF?OpenDocument

But since you will like to do some renovation before moving in, I will recommend you to sell first and rent a place for short term period/ move in with your relatives temporarily then find a good EA to move in and dont have to rush your renovation works at all.

Normally I will recommend this because for contra, its tedious as you have to match both sale and purchase timings and without it, you will have time to enter into a well thought through agreements (buy and sell at good price).

FYI, you cant buy first then sell because you cant own two HDBs at any one time.

As for CPF, be it contra or sell first, you wont have any issue for usage of CPF funds for next purchase.

Hope I will have the opportunity to assist your family in your property needs.

Looking forward to hear from you soon!

Warmest Regards,
YT TAN
Senior District Consultant
R043025D
(M): 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
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Afternoon,

For your case, you can choose to sell your wife's unit first, stay in your unit before hunting for the EA which you want. Your wife and father-in-law will get their CPF monies and cash profit from the sales, which will also allow your father-in-law to settle the purchase of his Studio apartment.

To use your CPF for the purchase of your unit, you have to utilize HDB loan. It will be granted to you, provided that your combined income does not exceed the ceiling and have not utilized both chances for HDB loan. This HDB loan will be market rate loan till you have sold off your unit. This will allow time for your renovation, moving in, etc.

All this process have to be timed and worked out properly before execution.

Do feel free to contact me if you require further assistance.

Regards
Mike Lim
 96929209 
CEA Reg No: R026708F
Email add: m52i@yahoo.com
ERA Read More

Hi,

Regard to your question. Why not you just drop me an email at ot1984pierre@gmail.com or Contact me @ 82798327  -

Why Should Sellers engage me? Contact me @ 82798327 

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Koh.Z.H - Agt
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