Asked by Mr. Kee
Hi Guru, I understand HDB required me to prove that I have sufficient funds for buying a resale flat. Please help to answer below questions:
1)If I can produce documentary proof on the sale of my private property for above 1 million at the same time looking for a resale flat around 500K but my CPF balance and bank savings only have around 100K, will HDB approve my application?
2)Do I need to ensure my CPF refund is effected to my CPF account by the resale first appointment ?
3)If I wish to fully pay for the resale flat, must I also ensure that my sale proceed is ready before the resale second appointment?
4)What is the best solution to avoid finding an interim rental during the whole process of selling and buying whereby I can only receive my sale proceed after 3 or 4 months?
5) Will bridging loan help to solve above problem?
Thank you
1)If I can produce documentary proof on the sale of my private property for above 1 million at the same time looking for a resale flat around 500K but my CPF balance and bank savings only have around 100K, will HDB approve my application?
2)Do I need to ensure my CPF refund is effected to my CPF account by the resale first appointment ?
3)If I wish to fully pay for the resale flat, must I also ensure that my sale proceed is ready before the resale second appointment?
4)What is the best solution to avoid finding an interim rental during the whole process of selling and buying whereby I can only receive my sale proceed after 3 or 4 months?
5) Will bridging loan help to solve above problem?
Thank you
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