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Morning Stanley,

Upon presenting the OTP for your sales of HDB unit, bank is likely to offer your 80% loan for your private property. However, CPF monies for your HDB unit will only be credited into your account 2 weeks after completion of transaction. Thus the handling of timing and sequence of events must be calculated which is also dependent on your requirement on the upcoming purchase and the asking price for your current unit.

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

Regards
Mike Lim
 96929209 
ERA Read More

Hi Stanley,

Planning for upgrade is a good sign and I would like to offer my congratulations to you for being able to do this upgrade.

As you have mentioned that you will require the cash proceeds and CPF returns for your payment, I would like to then ask if you have the 5% cash on hand (Option Money and Option Fees) for the purchase. As the CPF returns require 2 weeks after the completion of the sale of your HDB, it is likely that you may have to look at the option of short term rental to begin with. Maybe you can negotiate for early move-in for your purchase, however, if the unit requires renovation, it will get pretty tricky.

Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More