4 Answers

Brandon Aw ERA
Dear Ms. Alicia,

Please give me a call at 8233.23.23

I really have a very optimistic answer to your concerns.

Brandon - ERA Marketing Director
HP: 8233.23.23
Email: aw.brandon@gmail.com Read More


TC Tan
Hi Alicia,

I understand the situation you are in.
Many of my clients take advantage of a positive sales proceed from selling a HDB apt to upgrade to a pte condo.
In your case on selling your HDB apt, your sales proceed is still positive of about $110k after taking a resale price say $530k less your outstanding loan of $176k and amount back to CPF O/A with interest est $230k and other misc fee.

On the part of buying a e-condo of $800k, strictly cash would be 1% option fee + 4% option exercise fee + Stamp fee of $18,600 + other misc fees. This would add up to abt $58,600+, of which the stamp fee of $18,600 can be reimbursed from CPF O/A later. The current cpf of $120k is sufficient for the 15% only.

If you are taking bank loan for financing the purchase of EC, you cant do contra. The dealing of EC is like pte apt transaction.
The combined income of $11k monthly which I do not see any issue getting a 80% bank loan not taking consideration your credits. Better that I help get my banker friend to do up a IPA for you first.

In my opinion, you can consider to sell your HDB apt first, get the sale proceed to better finance the EC later. To complete a HDB trasaction, it is about 4.5 months compared to a pte apt which is generally about 8-12 weeks.

I would be pleased to show you more details of the financial plan for your selling and buying. Do call me 9876 5130 to discuss further.


TC Tan
Group Director
9876 5130
http://www.dennisweeagent.myweb.sg Read More


Dear Alicia Tan,
Is the EC you are talking abt, a brand new development or already TOP project??
Are you planning to buy first then sell??
If you are then plz take note that you are affected by the minimum sum. If you are using your CPF for a purchase of a 2nd property, you have to set aside 50% of the minimum sum amnt , today which is $58500, combine SA n OA. Both of you have to set aside this amnt before you can utilise your CPF $ for the purchase.
5% cash is a must for ECs or private projects. The balance 15% can be in the form of CPF or Cash.
If you need further clarifications, plz dont hesitate to call me.

MOBILE: +65 81803137
LICENSE NO: AD041-3006955D Read More


Ken Lim
Hi Alicia,

There is no restriction on the usage of the CPF money if you are going to sell your HDB flat.

Your current scenario is just a normal buying and selling of house.

You may like to call me for a discussion at 9027-6142 / kenlim09@gmail.com

Best Regards,
Ken Lim Read More