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Hi,

You need to sell away both your current hdb + overseas private property, within 6 months after key collection to your next purchased hdb unit. It does look like his income may not be able to get a sufficient loan, and you may need the sale proceeds from your 5-rm to facilitate the upgrade. Timeline is important and it will be best to engage an agent to manage both transactions professionally for you. Thanks and hope to assist with your plans further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
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Morning,

As you have private properties overseas, you will be required to remove the ownership status within 6 months from key collection of your resale jumbo unit. In reference to the financing aspect, it would be good to know how much funding have being locked in the current unit, against how much loan is eligible to both of you, based on the TDSR.

Do contact me further should you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi,

Re: Our Preferred Experienced SG Professional

Based on current HDB policy, you can only opt to dispose overseas property before you purchase any types of hdb flats and EC.

Call us now, we can explore further in detail.

We are contactable at 92222389  or onassis@sgrealtor.com.

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Hi
You can buy first if your financials allows for downpayment. Otherwise you will be required to sell your hdb 5 instead.
Lets have a detailed discussion offline from here.
You may reach me via 91441664  for a detailed discussiom.
Tricia Tan 91442664  Read More

Dear upgrader,

It will be a requirement for you to dispose off your overseas property (either sell or transfer) within 6 months of taking over your purchased HDB. The fees involved will be depending on the regulations of the local government probably.

In terms of financing the purchase, I will highly advise you to speak to a banker first before making the move as the recent regulations of financing has made it more stringent in terms of loan eligibility. There are cases which I have heard of prospective upgraders like yourself selling off their property but unable to secure the loan required for their purchase, which end up purchasing a smaller unit due to their age and income restrictions.

If you need to speak to a banker who is familiar with HDB resale transactions and need a number to call, feel free to let me know.

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Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B)
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Happy lunar new year to you, Upgrader.

Thanks for sharing your outstanding HDB loan amount but this information is not sufficient to gauge whether you are financially capable to upgrade to a jumbo unit.

To compute your sale proceeds, I will still require your unit address (to estimate your sales price) and CPF OA funds utilized plus accrued interest.

As for your purchase, do let me know how much cash and unutilised CPF OA funds you have on hand. In addition, it will be best to speak to my banker so he can advise you how much finance can your husband obtain.

If you intend to use your sales proceeds to fund your purchase, you might want to time both transactions to perfection so you won't have to shift to a temporary accommodation before shifting into the jumbo unit.

By the way, disposal of property ownership will usually incur legal fees. May I know where this property locate so I am able to advise you further?

Hope to hear from you soon!

Warmest Regards,
YT Tan
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
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(W): www.yttan.com Read More

Dear Mdm,

You may need to transfer the overseas properties to your family members or relatives within 6 months from the purchase of Jumbo under the current HDB rules. This is usually the practice of HDB purchasers who own foreign properties.

As for Jumbo flats, they are limited and mostly located in the older estates. May I know which particular estates or areas are you looking at?

To ensure that you can afford the jumbo flat comfortably since your husband is the sole breadwinner, I will need more information from you so that I can come draft a comprehensive financial plan for you to plan better.

Please feel free to contact me at 9644 4854  so that we can discuss more!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nicktan@propertyavenue.com.sg
(W) www.nick-tan.com / www.propertyavenue.com.sg

Testimonial from Satisfied Clients (2015)

“Nick from Property Avenue 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 is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer of HDB)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer of HDB)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”

Mr and Mrs Chan (Sold and Bought through Nick) Read More