6 Answers

Robbie Chen Chee Howe
Hi Sam,

If you do not have the downpayment for your condo purchase, you might want to consider selling your HDB first, before committing to your condo purchase.

This way, the sales proceeds will be credited back to your respective CPF accounts, and then you can use them for your condo. You also can avoid paying ABSD upfront, if you opt for this method.

However, by selling off your HDB first, we will need to plan the timeline carefully, so as to ensure smooth transaction, and you will have a place to stay throughout.

Please get in touch with me at my mobile 9748 6305. I would love to plan your timeline with you.

Thank you.

Best regards,
Robbie Chen
9748 6305
PropNex Realty Read More


Ivan Ng
Hi Sam,

For such cases, it will be prudent to plan the finances and timeline in detail before you embark on the upgrade. Typically I share with my clients the full plan in detail from the onset so they know what to expect for the entire process.

Typically for similar case, will need to do the sale & purchase concurrently. As the sale proceeds will only come back after the sale, and since your cash+cpf is not sufficient, you can only exercise the OTP for your purchase unit later hence also would need to request an extension for stay from your buyer.

As aforementioned, the planning is important and would need more inputs to plan the best approach for your upgrade so you have a hassle free transition. 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,
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

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Geryl Lim
Dear Mr Kuan,

In such cases where you are unable to cough up the initial cash payment for purchase in the upgrading process, it is highly advisable to complete the entire sales process and negotiate for 3 months extension after completion which is allowed by HDB as long as your buyer is agreeable to the extension, thereby allowing you to have cash on hand for up front payment of the purchase. Nevertheless, under such circumstances, you maybe pressed for time to commit for a property purchase.

Even before you carry out anything, speak to the financial professional to crunch out the figures for this upgrading process in order to determine feasibility for the move. We do not wish that you will be stretching yourself financially for the purchase only after committing to the sale.

I have a dedicated team of consultants who have successfully assisted out clients in the portfolio change from marketing of unit to sourcing for next home. Backed with a panel of bankers from different banks as well as conveyancing professionals who can provide legal advise for any doubts on the entire process, our clients find it beneficial to entrust their real estate needs to our team.

Get in touch with us soon!

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Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B)
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YT Tan (陈永达)
Good morning Sam Loong,

I will love to assist you with your upgrading plans but before we proceed further, it will be crucial and best for me to touch on your finances and draft out a estimated financial plan so we can use it as a guide along the way.

Do take note of the cooling measures if you decide to purchase first:

1) 10% additional buyer's stamp duty (higher of SC 7% or SPR 10%) for second residential property purchase (havent dispose off your HDB)
2) need to set aside basic retirement sum $80.5k in your CPF OA+SA before you can use your excess CPF OA funds for this purchase.

Perhaps we can meet over a cup of coffee for a non obligation discussion so I can understand more from both of you. From there, I can draft out a plan that's taliored made for just two of you.

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Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

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CK Ang
Hi Sam,
For your case, planning of timeline is very critical. Let me share with you the solution.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

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


Radhika Prakash
Dear Sir/Ma’am:

We will be glad to assist you. Kindly write to us on realproperty63@yahoo.com.sg or call us on 93380071.

Kind Regards,
Radhika Prakash
Edmund Tie and Company
93380071 Read More