Thanks for your post in Propertyguru and congrats on your plans to upgrade!
Basically it is possible to do the selling and the buying concurrently but there will be a few points to take note. First, if you have an outstanding loan, banks will only loan you a max of 50% for your next purchase with 25% being in cash and 25% in CPF. If you want to use your CPF, you will also need to ensure that 50% of CPF minimum sum is fulfilled.
What I would recommend is actually for you to start the selling process first and we can also start the viewings of the condos. When the buyer has committed to our HDB, then we can also commit to the private purchase. Definitely in between the transactions and negotiations, we will need to take note of the timeline and make sure that everything falls nicely into place.
Under the current market sentiments, it is definitely more advisable to start the selling process first and seriously, there are really many private properties in the market for us to choose from. So we won't really have an issue of not being able to find a house for you.
If you are fine, maybe we can meet up for a discussion but no worries, there are no obligations at all. We can just take it as a chat. I can take the time to share more with you, especially on the current market trends and where it may be leading to.
Over my time in this industry, I have served many clients and many of them are now my friends. Many of them have also left testimonials for me and if you are available, you may read them on my website, www.jeffreyheng.com. I was also very honoured to be nominated by my clients and subsequently winning the SAEA Real Estate Excellence Silver Award for Best Client Service. I sincerely believe I should be able to provide the same level of service to you.
Looking forward to hear from you soon! Cheers!
Branch Division Director
ERA Realty Network Pte Ltd
SAEA Real Estate Excellence Silver Award - Best Client Service
SAEA Real Estate Excellence Award Nominee - Best Client Service
Mobile : +65 9858 1322
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Web : www.jeffreyheng.com