Good morning Alan,
1st 10% downpayment is required during Signing of Agreement of Lease, and the next 10% when you collect keys to the new BTO.
We can time the sale of the existing flat such that the proceeds come back in time to fund this subsequent 10% and the balance shortfall so that the key collection to the new BTO is not an issue. You may also be eligible for the temporary loan from HDB that acts as a bridging loan for the transition.
I have helped various homeowners to do the same and will be happy to guide you through. The only challenge is probably to get a queue number to choose in the first place as its usually tough for 2nd timers to get an unit in BTO exercise.
Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.
Warm Regards,
Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever
SEAA Salesperson Achievement Award 2021 (Gold)
SEAA Singapore Accredited Mortgage Planner (SAMP)
ERA Top 93th Achiever for Full-Year 2020 (Top 1.5% Company Level)
ERA Top 11th Achiever in June 2020 (Top 1% Company Level)
ERA Top 91th Achiever in 2nd Quarter 2020 (Top 2% Company Level)
ERA Top 15th Achiever in April 2019 (Top 1% Company Level)
ERA Top 86th Achiever in Sept 2019 (Top 2% Company Level)
SMU BBM (Finance), Magna Cum Laude
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(Client's Testimonials)
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-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --
I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan.
--- HDB Flat Sellers Uncle "Seng" and Mdm. Png ---
Translation from Mandarin:
We are from the Pioneer Generation, already in our 70s, and have no experience selling HDB flat. As our new BTO is arriving, we considered selling our flat earlier.
We felt he was a patient agent who is willing to hear out our plans and concerns, and explain new HDB selling procedures clearly to us. He is also a hardworking agent who did Roadshows for weeks to create awareness for our unit, and we quickly found a buyer through this avenue.
We also appreciate that he made the extra effort to accompany us down to the Banks and Town Council to help us with the outstanding paperwork procedures, and ensure the sale go through smoothly. Throughout the process, we always felt assured and happy, as Ivan was always professional, accessible and saw things through till conclusion. Ivan will remain as a family friend and we will be glad to invite him over for coffee when our BTO is ready.
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