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Hi,
At the moment I owed an EC and wish to downgrade to HDB 4 rm in about 1 to 2 yrs time after the MOP of my EC. So is it possible to buy the resale HDB first before selling the EC? Currently I am 56 yrs old, so by the time I buy the resale HDB, I would be 58 yrs old, will it be a problem of getting the bank loan. If using the proceeds from the sale of the EC, definitely I would be able to cover the full price of the HDB.
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3 Answers

Hi Mdm Ho,

You have 6 months to dispose off your EC upon key collection of your 4-rm resale HDB.

With regards to loan, this is govern by MOF:
(1) Loan is dependent on your income.
(2) Your age shall limit the number of years that you could loan.
(3) Number of loan exist.

Without existing loan, can loan up to 80%.
With existing loan, can only loan up to 60%
Loan beyond 65 years old w/o existing loan is 60%
Loan beyond 65 years old w/ existing loan is 30%.

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com

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Hi,

If you are buying first, the finances must be sufficient (ie. Funds on hand and Loan attainable) to cover the purchase price so the purchase can be completed. It might be difficult for your case due to the age profile. The downside of Buying first is that you have a stipulated timeline to sell your private property within 6 months of resale hdb key collection.

What happens for my clients is typically the sale and purchase are done concurrently and we try to plan the timeline such that it's a smooth transition be it financial wise or physical moving in.

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.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews
(Client's Testimonials)

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- HDB BTO 4rm Sellers Mr. Farvin & Ms. Sel --

Ivan was the first agent that we met up with and right from the offset we had good vibes as he has a friendly personal approach, detailed working style and focuses on building the long-term relationship.

Our unit comes with its challenges but Ivan remained positive and had no qualms committing to our plans right from the start. It took only 6 weeks of aggressive marketing for him to secure a good offer which was a pleasant surprise in the end.

Ivan was always responsive and we had no worries to pass him the house keys. The whole process was transparent and hassle free, and he was always thinking from our point of view on how to make life easier for the client. He is a committed professional and has fast execution, so we felt assured that things are done well and we can entrust the sale process entirely to him.

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He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked.

When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.

Thanks Ivan! :)

-- HDB 5-rm Sellers Mr. & Mrs. Ting --

We have engaged the services of Ivan Ng for sale of our property at Pandan Gardens. He is professional and systematic in his marketing approach.

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He provided us with sound and useful advice as well as closely follow through from the start till the smooth sale of the property within a short period of time.

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Robbie Chen Chee Howe
Hi,

You are only able to purchase after you have served your MOP for your EC.

Whether do you purchase first or sell your EC first, it depends if you have the funds to pay for the purchase first or not.

Should you need any 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 and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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