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Morning,

Does your parents intend to sell off the HDB prior getting the final judgement for divorce? If you choose to purchase the private property prior selling off your current HDB unit, you will be liable for 7% ABSD, payable by cash.
Assuming that your unit have being sold for $770k, after returning the outstanding loan and CPF, the cash proceed will be around $85k, before deducting the agent's commission payable (based on the figures given). As to purchase condo at $900k, this would be dependent on the sizing, location and how much loan you are eligible for, based on your income and credit status. With the current HDB unit still on mortgage, bank can loan you max of 50%. This would imply that you are required to prepare at least 25% in cash and balance 25% in CPF, after setting aside the CPF minimum sum requirement.
You can engage the same agent for the selling of your HDB unit and purchase of private property. I would believe it would be easier to manage to have the same agent doing everything for you.

Do feel free to contact me for further discussion.

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

Hi, given the present market sentiment, it would be better to secure a buyer for your present unit first before you proceed any further to buy a condo. Pls feel free to let me know if you need any assistance.

Regards
Aaron
 97308455 
aaronchong2774@yahoo.com.sg Read More

Dear Ms,

The scenario could be different in terms of the sales proceeds if a court order is required for the sale, meaning if the household disagrees on how the sales proceeds should be shared. Unless you are able to work on this sale amicably, it will definitely be more in your interest to secure a buyer for your current place first before purchasing. Similarly, in terms of financial eligibility for your purchase, it is in your interest to speak to a banker to ascertain the financial figures before moving ahead such that you can map out your options ahead before moving. In terms of engaging the services of a professional, you may simply engage 1 to minimise multiple contact points since they are 2 separate transactions. More importantly, we will be looking at the network of this professional which can be translated into value add to your objectives. If you need to find out more about how my team of consultants can assist you, perhaps you may wish to get in touch with me to discuss further.

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop

Regards,

Geryl LIM
Real Estate Director
Masters Of Real Estate (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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Hi. Gd day.
The sales proceed will depends on the court order since it is a divorce case. At present market, it is better to cash out first then procced to buy next housing.
Feel free to reach me at 91442664  if I can assist you in the transaction.
Tricia Tan propnex
Sms/Watsapp 91442664  Read More