Asked by MT
Gurus, we intend to buy HDB resale flat. I still own HDB. We do not intend to do contra with HDB as most of the sales proceeds will end up at the new flat. Hence bank loan is what we intend to use. Wife has 80K CPF with 100K sales proceed in her bank after selling her HDB. Can my wife and I purchase the resale HDB first using my wife sales proceed and sell my own HDB later? Will bank allow such arrangements and allow up to 80% loan if I manage to secure a buyer with the 1st appnt letter as proof? Will we need bridging loan? We need to reno the place with new furniture purchases and I don't want to sell mine first and look for alternative place which may cost more due to renting a place and find storage for current furniture which some of it will be use for new place.
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