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.
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