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Good evening!

Not to worry. I will guide and advise you along the way.

Based on your situation, you might need to put up your HDB for sale first and during the sale process, source for a new place. But nevertheless, do get in touch with me first and let me advise you further with a financial plan first.

Btw let's touch on these:

1) Bridging loan

Once you have issued an OTP for your HDB sale, you can obtain a bridging loan to make up the $$$ difference in their purchase. No OTP no bridging loan. Normally I will advise my client to commit to a purchase only after buyers have committed to their HDB sale.

2) ABSD

If you have issued an OTP before committing to a purchase, you will not be subject to ABSD.

3) So for HDB sale, expenses will be resale submission fee, legal fees, agent's fee and some misc fees.

4) For private purchase, you will need to come out with initial outlay.

Initial outlay:
1) 5% cash downpayment and 15% CPF OA funds/ cash downpayment if you can obtain a 80% loan
2) estimated 3% buyer's stamp duty
3) legal fees, valuation fee, stamp duty for mortgage etc.

I can forward you flowcharts to explain HDB sale and private purchase further.

Hope my explanations help! Hear from you soon.

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
District Director
R043025D
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

Evening,

As SC, if you have managed to obtain exercised OTP for your HDB unit before you exercise the OTP for your purchased condo, ABSD is not payable.
With good credit standing for both TDSR and MSR, banks can grant you bridging loan to facilitate the purchase. However, this is subjected to review and your sales must have positive return.

DO feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi,

I believe you should have gotten a clear idea from YT's response. To add on, the sales proceeds will only be released to you after the 2nd appointment, thus it is likely you will need a bridging loan (only obtainable with valid OTP for hdb sale) or you need some form of interim housing. ABSD as mentioned, could be avoided if you manage the timelines of both OTPs carefully.

Most of us will be able to assist you, but which areas are you keen on? I will be glad to meet you to understand your needs, share with you the location's value-buys available and ensure your hassle is minimized. Commission is flexible and can be discussed again, most importantly is whether we can value-add to your plans. Thanks and hope to have the opportunity to work with you.

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com Read More

Hi, there are quite a numbers of preparation work for your plan. Timeline management is very important along the process. I am able to lead you throughout the whole process with advises.

I am reachable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More