Good morning YK,
Since you have fully paid off your EA, there will be substantial cash proceeds + CPF refund coming back after the sale to cover the purchase price of your next flat. As long as both of you have met the Full Retirement Sum (FRS) amounts individually, you can use the excess CPF funds on top of the FRS and utilize it for property. The FRS amount for your cohort should be $148k if you turned 55 years old in 2013, so any excess CPF funds above $296k (148k x 2), can be used for property as well. So it is most likely able to cover your next flat fully, if the sale price is a lot higher than your purchase price of your next 4-room flat.
It will be ideal to do the sale & purchase concurrently together, and look for the next house. I will try to secure extension from the buyer of your EA, so that you can use this extra time to do the transition and renovate the next place, so that you only need to move once. I have worked on similar cases before and would be able to share the overall process with you on the best approach. Please contact me at
97432395
for further discussion
May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.
Warm Regards,
Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever
SEAA Salesperson Achievement Award 2021 (Gold)
SEAA Singapore Accredited Mortgage Planner (SAMP)
ERA Top 93th Achiever for Full-Year 2020 (Top 1.5% Company Level)
ERA Top 11th Achiever in June 2020 (Top 1% Company Level)
ERA Top 91th Achiever in 2nd Quarter 2020 (Top 2% Company Level)
ERA Top 15th Achiever in April 2019 (Top 1% Company Level)
ERA Top 86th Achiever in Sept 2019 (Top 2% Company Level)
SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.
Contact:
(+65) 97432395
Whatsapp: wa.me/6597432395
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
WeChat: ivanng10
FB: fb.com/IvanNgRealtor
Web: ivanng10.com/clientreviews
(Client's Testimonials)
CEA: R052114D
**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **
-- HDB Executive Maisonette Sellers, Mr & Mrs Yeo --
Before contacting Ivan Ng, our Property Realtor, we were quite apprehensive about our Contra-deal ( concurrent resale & purchase of HDB flats) as at that time the outlook of the resale property market was quite sluggish & pessimistic. But surprisingly our property realtor, Ivan , was able to put us at ease with his professional competence, astute work experience & friendly nature . He was able to consummate our contra-deal within one month of our HDB application. This results in a seamless transition of the funds from our sale proceeds and CPF proceeds towards our purchase price. More importantly Ivan has also managed to clinch a good deal for our contra-deal. We'll certainly recommend him to our kins & friends. Thank you very much, Ivan. We are definitely your satisfied customers!
-- 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.
We appreciated your process of selling and buying of our property are very systematically and well executed, from financial calculation to the purchase procedure of our new house. We are always being updated thru our group chat during the engagement
Read More
