Asked by Palabee
Hi Gurus,
Background:
I own a fully paid Executive Condo that is probably worth around 850k and this is my first and only property. I am now eyeing on a new launch unit (for eg Thomson Grand etc) that is worth around S$1.7m.
Question:
1. Can I now buy a new launch unit with only a 20% downpayment that is made up of part cash part CPF or will it be a 30% downpayment for me?
2. If I need to cash out on my existing unit to pay for the 20%/30% downpayment for the new launch unit, how do i go about doing it when i can't possibly sell off the current one when the new launch unit is only ready for TOP in another 2-3yrs?
Thanks.
Background:
I own a fully paid Executive Condo that is probably worth around 850k and this is my first and only property. I am now eyeing on a new launch unit (for eg Thomson Grand etc) that is worth around S$1.7m.
Question:
1. Can I now buy a new launch unit with only a 20% downpayment that is made up of part cash part CPF or will it be a 30% downpayment for me?
2. If I need to cash out on my existing unit to pay for the 20%/30% downpayment for the new launch unit, how do i go about doing it when i can't possibly sell off the current one when the new launch unit is only ready for TOP in another 2-3yrs?
Thanks.
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