6 Answers

Hi,

It depends on the sale price & purchase price. For example selling a $500k 4rm and getting another resale at $700k, the sale cash proceeds may not be a lot. You can do a quick estimate using

Sale Price
Less outstanding loan
Less cpf utilized+accrued interest
Less legal fees and agent success fee

Balance would be the sale cash proceeds.

I have worked on various similar cases and would be happy to share the best approach. May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --

I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan.

-- HDB Jurong West 5-RM Sellers, Exec Apartment Purchasers, Lenz & Michelle --

We would like to thank you for ensuring a smooth and well-explained process throughout the whole selling and buying of our property. We got to know you thru Property Guru, where we are scouting for condo around West area. We remember that we are quite tight in our budget in purchasing the condo unit,but you are still very willingly explaining and calculating our financial liabilities. You are always having your smiles whenever we met for discussion.

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Ivan was the first and only agent that we met before engaging him as our exclusive agent. At the first meeting, Ivan meticulously went through the entire sale process. As we were not familiar with the procedures, he spent extra time to explain what was required from us and what we should expect.

After a week of preparation, Ivan came to take photographs, and once the advertisements were up, we had interested parties coming to view the apartment the very next day. Within a week, we had secured an offer from the buyer. Ivan was reliable and responsive, and he made the entire process smooth and hassle free Read More
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Dear Sir/Mdm,

For your BTO, it is likely that you will be make a profit from the sale. However, as to the actual amount, I will need to look into the exact figures before I can advise. It is possible to upgrade to a 5 room or into another 4 room resale with cash to spare.

Before proceeding with this move, it is advisable to plan the finances and ensure that after the transition, there is spare cash leftover even after the renovation cost. Moving from one HDB to another will also require careful planning in terms of timeline so that you can transit from one flat to another seamlessly and smoothly without the need for an interim housing solution.

I have assisted many of my clients who are in the same situation to transit successfully. Please feel free to contact me so that I can understand your situation better and draw up a transition plan for you.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020
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“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
Peter & Wendy (Property Seller)

I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
Weilun & Benita (Property Seller)

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Mr & Mrs Wong (Property Seller)

“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations. We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful an Read More
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Hi, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead. By the way, since you are the 1st owner living in the BTO unit, you should very likely have cash proceeds once the flat is sold, and I would need more financial info from you in order to calculate in detail.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Hi,

1) In most cases, selling BTO usually able to get some cash.
You may do some calculation based on the following:
a) Check recent transaction of your flat: https://services2.hdb.gov.sg/webapp/BB33RTIS/
b) Check Your outstanding loan: if this is an HDB loan: https://www.hdb.gov.sg/cs/infoweb/homepage. Log in using Singpass and check your outstanding loan.
or if a loan from a bank, you will have to approach your bank for detail or use the last statement as a reference.
c) Utilized CPF & accrued interest: https://www.cpf.gov.sg/members
Log in using your Singpass and check under Section C for the amount used for your flat.
d) Estimate agent fee of 2% (it can be more dependent on the package you wish to go for), a legal fee of $1,500~$2,000 dependent on the law firm you use.

(a) - (b) - (c) - (d) = cash proceed

2) Now you plan to buy a bigger flat; 5-rm. It depends on the estate you choose, some estate is more expensive than others.
It depends on whether it is a mature estate or non.
3) If you had used an HDB loan in your BTO, you still have a choice of using an HDB loan again. But take note that 50% of cash proceed has to be used to finance your new purchase.
4) If using a bank loan, you will have to find out which bank offers a better rate and lock-in period, penalty, etc. Current local banks are offering similar interest; ~1.3/4% dependent on package.
5) Do note if using a bank loan, the max loan to value is 75%. Thus you will have to prepare 5% cash, 20% cash, and/or CPF.
6) $5k for OTP deposit, this amount will be considered as part of the 5% cash component mentioned in (5).
7) Though some cash will need to utilize just for purchasing. I believed you will still have some cash on hand. It really depends on how much you can get in (1), and how much need to use in the 5% component.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer/

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Appreciate your sharing, depend your plans and targeted area. Wishing you Happy 2021 and looking forward to assist you ! Stewart-Propnex 9696 4398  Read More
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Robbie Chen Chee Howe
Hi,

Whether you're able to get back cash after purchasing your next flat depends on various factors:
1) price you sold your current flat
2) outstanding loan
3) CPF refund
4) next flat purchase price
5) loan amount that you're going to take
6) amount you're going to downpay
7) renovation and other misc costs that is going to be incurred

Without knowing these figures, I'm unable to work out an accurate figure for you.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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