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Hi,
As my child is moving to school, looking to move to nearby areas. Currently live in a 5-rm HDB in Ang Mo Kio (10+ years so no MOP issues). I do unedrstand the policies and procedures but wondering if a "contra" sale is possible or happens so I don't have to incur the ABSD or able to get ~75% loan. Appreciate your views.
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6 Answers

Robbie Chen Chee Howe
Hi,

If you're looking to do "contra", I suppose you're looking to move to another HDB flat? If that's the case, there is no ABSD involved if you're a Singaporean.

Should you be a SPR family, then you will incur at least a 5% ABSD no matter what.

As for loan, you can get up to 75% loan subject to both TDSR and MSR requirements.

I am experienced and well-versed in both private and HDB resale transactions. I will be able to assist you in your housing plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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  • SK
    Looking at private and yes a local /Singaporean. Will do that after the CNY, thanks for the input
Good afternoon,

If you are looking to purchase another resale HDB, a contra is only possible if you are currently on HDB loan and also plan to take on another HDB loan for the purchase.

Yes your concerns are similar to the hdb upgraders I worked with and there are solutions to work around so ABSD will not be incurred and the 75% loan attainable. The main thing is to time and coordinate the process properly so to ensure a smooth transition.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

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Hi,

It depend on what type of property you are looking for, if it is another hdb then you can do Enhanced Contra (ECF).

ECF can be applied if you are selling your existing flat (Flat A) and buying an HDB resale flat (Flat B). The ECF can be used to finance the purchase of Flat B, including the insurance premiums for the CPF Home Protection Scheme. However, your buyer (of Flat A) and the seller (of Flat B) must not have applied for similar contra facilities for their flats.

It will also be subjected to HDB review and approval thus the timeline must be monitored carefully.

It will be best if you engage a professional to assist you in this.

As i am not able to contact you first, may i seek your help to contact me at 92707548  to discuss further.

Thanks and wishing you a happy and prosperous chinese new year.

Alan Sng
PropNex Read More
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  • SK
    Thx Alan. Looking at private preferably terrace/strata. Sounds complicated and will do contact after CNY.
Hi, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead. By the way, could I have more info of your HDB detail so that I can find out about the unit value on your behalf alright?

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Joanne Chia 谢诗琳
Good day sir / madam .

As per your request dont pay ABSD and qualify for 75% loan ( subject to income and age ) , you will have to sell your hdb BEFORE committing to buy a private property , you may negotiate for 3months extension stay from your hdb buyer ( subject to negotiation and buyer agreeable ) , if interim accommodation is neccessary for you.

Most buyers are viewing property for fun , not desperate to buy as they are hopeful that price will drop.

If you think price will go up , you can price your property higher , vise versa, if you think price will drop , you should set a realistic price or price it to sell quickly. In your case , it will be deemed as a lateral movement .

As i do not have your contact, Kindly contact me joanne chia hp 8333 3327  , for a no obligations chat for your property needs.

My charges are 1% commission for exclusive ( sole agent ) selling rights to your property, or 2 % for open listing ( as many agents as you wish ) .

NO COMMISSION CHARGEABLE WHEN I SERVE PRIVATE PROPERTY BUYERS.

Joanne chia
Hp 8333 3327  Read More
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