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Hi Jin,

A) you need not get hdb loan again, you can choose to take bank loan

B) Yes for 2nd hdb loan, 50% of the sale cash proceeds will need to be set aside and used for the next HDB purchase.

C) At point of booking the BTO unit, you need to have enough funds for the 10% downpayment and 3% approx stamp duties. They will not allow booking if the funds are insufficient for this amount.

D) Yes you are correct. The balance needs to be settled before you are allow to take your keys. This is where my value-add comes in. I have helped various homeowners to do the same and time their financial and physical transition smoothly, so the proceeds are back in time and they have sufficient time for renovation.

Hope the above clarifies. 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)
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ERA Top 93th Achiever for Full-Year 2020 (Top 1.5% Company Level)
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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 Toa Payoh 5-RM Sellers of Million-Dollar HDB, Mr. & Mrs Leong

We were fortunate to have met Ivan Ng. He was thorough in going through what the complicated home-selling process required of us and more so in understanding what we would like to achieve from the sale of our unit. His responsiveness and assurance, was a trait that we really appreciate. We managed to secure a sale that exceeded our expectation with Ivan’s advises. The offered price for our unit was a record set for the flats in the neighborhood. This was definitely supported by the fact that Ivan’s listing of our unit was detailed and stood out from other listings. Because of this, we also engaged Ivan's service to help us search and buy our new resale home. After some searches and viewings, we managed to secure one at a reasonable price with his help. With Ivan’s cheery and positive demeanour, selling our unit to procuring a new one, was a smooth journey for us. It was a pleasure to have worked with him. Read More

Hi Jin,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, you could go for bank loan for the next flat so that you get to keep the full cash proceeds for the sale of current flat.

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

Can Call me to chat 8938 7686 

Mei Foong Propnex
www.meifoong-property.com Read More

Hi Jin,

You may consider taking a bank loan for your next purchase even if it is applying to BTO. If you have settled for HDB loan again, then you will need to retain at least 50% of the sales proceeds to be used for the purchased flat as part of the regulation. You will need to have the 10% funds ready on top of the stamp duty amount when you are doing the booking of your new HDB. For BTO purchase, you will settle the balance amount upon completion of the transaction and yes, you can work on delaying the completion of your purchase based on the sale of your current place.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
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[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
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My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

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Hi Jin,

I have assisted many of my clients who are in the same situation as yourself. Let me try to provide you with some clarifications:

a. For your case, you may choose to either take a loan from HDB (subjected to the right sizing which means 50% of the sale proceeds will need to go to the new BTO) or a bank loan. Looking at the information you have provided, you would have sufficient funds to fully pay up without a loan as well.

b. Yes this is correct if you are taking a HDB loan.

c. You will need to prepare the 10% down payment and a stamp duty of about 8k in order to book the unit.

d. The balance payment, we can plan the timeline in such a manner that you will be able to use the sale proceeds and the CPF refund from the sale of your HDB to finance the purchase of the BTO, thereby minimizing the cash outlay.

Please feel free to contact me so that I can provide you with a more in depth explanation on the timeline and processes.

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 / 2022

Visit my website to get to know me better:
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I was featured recently on Council for Estate Agencies (CEA) Newsletter:
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Testimonial from Satisfied Clients
“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)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
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 fro Read More

Hi
TO summarise, 10% downpayment along with stamp and legal if taking HDB loan needs to be paid during the signing of lease agreement typically 6 months after booking of flat. However an exemption can be made to the following category of buyers:
1) First timer couples where the youngest applicant aged to below 30 can choose to pay only 5% deposit along with legal and stamp fees. The other 15% can be paid durign key collection.
2) Owners rightsizing to 3 room or smaller flat are also eligible to pay only 5% deposit along with legal and stamp fees. The rest of the 15% can be settled at key collection date.
3) Seniors aged 55 and above rightsizing to 3 room or smaller flat are only required to pay the stamp and legal fee during signing of lease. The rest of the downpayment can be settled at key collection.

For your next question of awaiting the funds needed to pay the balance deposit, a normal approach that most buyers took is to delay key collection when its due and wait till they received the funds from selling their flat before informing HDB that they are ready with the key collection. I am specialised in HDB transactions. Do contact me at 93375051  for a free and non obligatory discussions on this.

Regards
Taufik Hussein
Marketing Director
ERA Realty Network Pte Ltd
CEA Reg No: R061607B
Contact No: 93375051  Read More

Hi Jin,

If you're taking up a second HDB concessionary loan, you are subjected to "right-sizing" of your loan. This means that you will have to utilise your entire CPF (bar the first $20k) for your next BTO flat purchase, plus 50% of your cash sale proceeds of your current flat.

In terms of Timeline Planning for the funds, do contact me for further in-depth discussion.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

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