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Hi Gurus, Im planning to sell my HDB flat and buy a resale HDB flat.

Non-Malaysian PR
Current flat price: estimated >300k
Home Loan Balance (Bank): 167k
CPF OA: 20k
CPF + Accrued interest: 38k
Cash on hand: 10k

Looking for 5rm flat near Gombak: Blk 683 to 694
Estimated flat value of 600k including COV (up to 20k)
As per Bank Assessment, I can take a loan of up to 1M. They can provide up to 80% provided I sell my current flat first.

Do I have enough resources to upgrade? Thanks
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2 Answers

Mike Lim
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Morning Andre:

From your figures, you profit from sales is around $75k. For the purchase, you have around $58k in CPF refund, excluding your current OA balance. Including your cash profit, COV and CPF OA refund, after deduction of possible stamp and legal fee, you require a loan of $480k. You have just the right amount to get 80% loan but you need to sell and buy concurrently.

Do feel free to contact me if you require further discussion.

Regards
Mike Lim
 96929209 
ERA Read More
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OHMYHOME PTE LTD
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