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Hi Guru, both my wife and myself are SPR, and we owned a fully paid HDB flat. We intend to sell off our HDB and purchase a condo unit. I would like to seek advise on how to proceed with the purchase with paying of ABSD of 5% (instead of 10%). Meaning will I have enough time to sell off my HDB unit, then spend a week or so to source and buy a condo unit, and still have enough time to move into the condo unit after handling over the key to new HDB owner? Will the timeline too tight? Or rather is it even possible? (I think the question is more on transaction time to sell off HDB, and transaction time to buy and move into a condo unit) If not possible, what other solution or recommendation do you have? Thank you
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8 Answers

Tricia Tan
Replied
Hi Edwin, LEt me and my team help you. WIth the new changes in the market, I will advise you to proceed with marketing of your hdb first. Do give me a call or drop me a text for a detailed discussion. I will be able to help you through the whole process. Timeline can be arranged. Hope to hear from you. Tricia Tan propnex 91442664  Read More
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Mike Lim
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Morning Edwin, Since you are selling off your HDB to purchase the private property, you will need to work on the financing. Understanding how much cash you can obtain from the sales, how much loan you are eligible for and how much cash you have in hand (to pay off the ABSD and downpayment for the upcoming purchase) is essential. We can also work on the S&P transition timing with better management and control once we get a clearer picture of your financial status. Do feel free to contact me for further discussion. Regards Mike Lim 96929209  m52i@yahoo.com ERA Read More
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  • EY
    Replied
    Good Morning Mike, Thanks for asking about financial status. I've no debt so the new government financial rules do not affect me (to obtain bank loan). My HDB may worth about $450k, I've CPF balance of about $300k currently, and cast of about $500k. Obviously I would like to fully utilised my CPF before utilised my cash portion. One question, how easily can i sell off my HDB 4room A model in Jurong East nowadays? (it is near Jurong Lake & Chinese Garden MRT)
Geryl Lim
Replied
Dear Edwin, A Jurong East 4A is still seeing healthy transactions for units where location is good but there is no doubt that the transacted price has been quite significantly affected by the cooling measures in place. You may need to be more creative in your purchase in order to work around the timeline issue which you have correctly identified. More importantly, it is also restricted by the financial profile of yourself. In securing back to back transactions from HDB sale to condo purchase, the completion for condo purchase is very likely to be faster than the HDB, therefore how are you going to move funds into this purchase if your HDB has not been completed is worthwhile to explore. Most buyers will likely take up the option of a bridging loan to work around. There are of course other options depending on the seller's situation which you can work out if creative thoughts are put into purchase negotiations. This is where an experienced salesperson can value add to their clients. 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 M.O.R.E Landed Dynamic Alliance Home of *7772 Hotline Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now! Our next exhibition is on 2nd and 3rd August 2014. If you have missed out successful exhibition on 10th and 11th May, do not miss this opportunity again. Register your interest to attend this showcase event now! Read More
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Able S.K Toh
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(1) Reviews and credibility
Read client reviews for Able S K Toh, Property Agent (Director level), on PropertyGuru:
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

(2) Direct contact
WhatsApp Able Toh, Property Agent (Director level), at +65 9856 9255  or via:
https://wa.me/6598569255

This platform does not support direct messaging.

(3) Property services
Professional support for renting, selling, buying, and property investment in Singapore.

(4) Private home buyers
Assistance in sourcing resale and new private homes at zero charge, as seller agents commonly share commissions.

(5) New launches and developer sales
Access to competitive pricing, no agent fees, and updated brochures, floor plans, and price lists.
Email: Able.selling@gmail.com Read More
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Able S.K Toh
Replied
(1) Reviews and credibility
Read client reviews for Able S K Toh, Property Agent (Director level), on PropertyGuru:
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

(2) Direct contact
WhatsApp Able Toh, Property Agent (Director level), at +65 9856 9255  or via:
https://wa.me/6598569255

This platform does not support direct messaging.

(3) Property services
Professional support for renting, selling, buying, and property investment in Singapore.

(4) Private home buyers
Assistance in sourcing resale and new private homes at zero charge, as seller agents commonly share commissions.

(5) New launches and developer sales
Access to competitive pricing, no agent fees, and updated brochures, floor plans, and price lists.
Email: Able.selling@gmail.com Read More
0
Upvote Upvoted
Able S.K Toh
Replied
(1) Reviews and credibility
Read client reviews for Able S K Toh, Property Agent (Director level), on PropertyGuru:
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

(2) Direct contact
WhatsApp Able Toh, Property Agent (Director level), at +65 9856 9255  or via:
https://wa.me/6598569255

This platform does not support direct messaging.

(3) Property services
Professional support for renting, selling, buying, and property investment in Singapore.

(4) Private home buyers
Assistance in sourcing resale and new private homes at zero charge, as seller agents commonly share commissions.

(5) New launches and developer sales
Access to competitive pricing, no agent fees, and updated brochures, floor plans, and price lists.
Email: Able.selling@gmail.com Read More
0
Upvote Upvoted
Able S.K Toh
Replied
(1) Reviews and credibility
Read client reviews for Able S K Toh, Property Agent (Director level), on PropertyGuru:
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

(2) Direct contact
WhatsApp Able Toh, Property Agent (Director level), at +65 9856 9255  or via:
https://wa.me/6598569255

This platform does not support direct messaging.

(3) Property services
Professional support for renting, selling, buying, and property investment in Singapore.

(4) Private home buyers
Assistance in sourcing resale and new private homes at zero charge, as seller agents commonly share commissions.

(5) New launches and developer sales
Access to competitive pricing, no agent fees, and updated brochures, floor plans, and price lists.
Email: Able.selling@gmail.com Read More
0
Upvote Upvoted
Able S.K Toh
Replied
(1) Reviews and credibility
Read client reviews for Able S K Toh, Property Agent (Director level), on PropertyGuru:
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591

(2) Direct contact
WhatsApp Able Toh, Property Agent (Director level), at +65 9856 9255  or via:
https://wa.me/6598569255

This platform does not support direct messaging.

(3) Property services
Professional support for renting, selling, buying, and property investment in Singapore.

(4) Private home buyers
Assistance in sourcing resale and new private homes at zero charge, as seller agents commonly share commissions.

(5) New launches and developer sales
Access to competitive pricing, no agent fees, and updated brochures, floor plans, and price lists.
Email: Able.selling@gmail.com Read More
0
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