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Hi. I have a HDB that is almost fully paid (left with 3 months) and I am interested in participating in SBF. I am well in my age (almost 60yo) and do not have enough cash for down-payment of the SBF property. However, the sales proceed from my current HDB should be enough to pay SBF property in full. In other words, I'm hoping to use my current HDB as a "collateral". Is this possible, or is there other way to do so? Thanks!
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5 Answers

Hi,

Yes its possible, by doing both sale & purchase concurrently, using contra facility. You have booked an unit from the SBF yet?

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,

Ivan Ng Realtor
ERA Senior Marketing Director
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Hi Sir/Madam

I just assisted my client who have similar concern
I will be glad to assist you as well
Appreciate if you can contact me at (65) 96608508  with details of your unit
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More
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Hi
I have served various clients and HDB typically will exempt you from placing the 10% downpayment during the signing of lease agreement date. However you will still need to pay for the stamp duty and legal fee at the lease agreement date where the amount is dependent on the purchase price (typically around $2k for a 2 room flexi). The balance payment can be made during key collection. I am specialised in HDB transactions and have assisted clients with similar concerns. Do contact me at 93375051  for a free and non obligatory discussion on this.
Regards
Taufik Hussein
CEA Reg No: R061607B
Contact No: 93375051 
ERA Realty Network Pte Ltd Read More
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Robbie Chen Chee Howe
Hi,

Yes, this is possible. You may wish to proceed to try ballot for the SBF first, as these are usually heavily oversubscribed. Good luck in your application!

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
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Hi,

1) You must have completed your MOP before being eligible to participate in the SBF.

2) You will need to prepare payment for the following:
(a) Application submission: $10
(b) Option fee: 4-rm abd bigger = $2k, 3-rm = $1k, 2-rm flexi = $500
(c) Down payment: 10% either in CPF or cash if you are taking an HDB loan or not taking any loan.
(d) Sign Agreement for Lease: buyer stamp duty ~3%, legal fees.
(e) Key collection: registration fees = $75.60 + Survey fees = $150~$375 (1-rm ~ Executive)
(f) HPS (Home Protection Scheme): must buy insurance if taking loan before age 65.
(g) Fire insurance: optional if not taking any loan.

3) For your case that you can sell your existing flat and request a temporary loan from the HDB (Contra Facility) upon key collection.
4) Suggest you inform the HDB officer when invited to make payment for down payment [2(c)] so that they could assist you along the way on the whole payment process.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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