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Hi Guru, I would like to sell my 4rm HDB and buy a new 5rm BTO in wdlands. My 4rm flat no longer have any mortgage. The new 5rm flat cost only abt $350k. I am able to roughly sell my 4rm flat at estimated $400K. Am I able to only pay $200k for the new flat while i retain the remaining sale proceed for other investment?

I am already above 55. I have checked my CPF and it states that i will need to return 46k to my CPF when i sell my flat and 42k is allowed to be used for the purchase of my new flat.
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1 Answer

Mike Lim
Replied
Evening,

Based on your age, you might have issue getting a mortgage loan. Saying that your new unit cost $350k but only ready to pay $200k, you require another $150k. And for purchase of BTO, you will require addition time for the unit to be built. By selling now, you will be required to settle your accomodation for this period of time.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
CEA Reg No: R026708F
Email add: m52i@yahoo.com
ERA

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