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Hi

If you go for bank bridging loan, you will also have to go with bank loan for the home loan. Is that your intended plan? The other way is to go for a temporary accommodation and storage facility for items so to get a longer period of reno time.

I have worked on various sell and buy concurrent cases before and will be happy to share my experience and work together on the plan. Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

Warm Regards,

Ivan Ng Realtor
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-- 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.

-- 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. Now we are convinced by his promise that (in Ivan's own words) ... "A contra-deal is where the sale & purchase transactions are done concurrently and completed on the same day. This results in a seamless transition of the funds from your sale proceeds and CPF proceeds towards your 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! Read More

If you are taking up bridging loan, my understanding is that you will also need to take up home loan from the bank. Is that your plan? The alternative is to work on squeezing your renovation contractor to complete the works in 2 months instead of 3. And if you need to move in first while defects are being rectified, this will then be necessary. Read More

Hi, appreciate your sharing. Best to seek advise from Banker to decide.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

Am currently facilitating a case that is almost exactly your situation. Do reach out and I can guide you through the possible options you have to facilitate your move.

Kay Cloud
The Harvard Educated Agent
Propnex Realty Pte Ltd
cloud@propnex.com
Tel: (+6.5.) 8.5.6.7.4.5.8.5
Whatsapp -> https://wa.me/6585674585 Read More

Good day to you.

Typically, CPF funds generated from sales will be returned to the seller within 14 business days. If you have an HDB loan, you will have approximately 9 to 10 weeks for renovations before the extension of stay matures. On the other hand, if you are using a bank loan, you may need to consider the requirements for a bridging loan. However, this method will incur extra costs.
Ultimately, timing is vital.

Navigating a property transaction can be complex, especially with major life events. As a seasoned property consultant with 15 years of experience, I provide informed guidance on complex property matters.

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For informed guidance along your property journey, you can schedule a free consultation to discuss your specific needs via -
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I would be glad to assist you.
Feel free to contact me at wa.me/6597100155
Hope to hear from you soon.
Pei Mobile: (65) 9 7 1 0 0 1 5 5.
Email: peicheng.tan@propnex.com
Associate Group Director
Propnex Realty Pte Ltd Read More

Yes, a bridging loan can help in your case. It allows you to use the sales proceeds (especially CPF refund) from your existing flat before they’re officially credited, so you can complete the purchase of your next flat earlier.

This gives you more flexibility to shift and start renovation earlier, without waiting for the CPF refund timeline.

Just note:
• Interest rates are higher than normal home loans.
• You’ll typically need to repay it once your sale proceeds come in (usually within 6 months).
• Not all banks approve bridging loans if your sale timeline is uncertain, so your lawyer and banker can coordinate the sequence of both transactions to minimise overlap. Read More

Hi,

1) You may consider using the enhanced contra facility in your case since you need the CPF funds from the sales.
2) The enhanced contra facility allowed the direct deduction of the sales proceeds to pay for the purchase.
3) Although you might have lesser prospects when decide using this facility, there will still buyers who do not need to use this facility.
4) The only difficulty in using this contra facility is you must buy within 2 weeks after the selling.
5) Thus, you might have problem finding the right house within this short period.
6) You will receive the keys on the same day of surrending your current keys.
7) I would suggest you to confirm and arrange to do measurement earlier. Do not wait till the last day to visit the flat to do the measurement.
8) The contractor or ID will need time to arrange for renovation materials and manpower deployment.

All The Best!!!

Hope the above answers your main concerns, but if there are more queries, 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://www.linkedin.com/in/ckling/
https://agents.huttonsgroup.com/R056727F/

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✔1 If you’re considering a **bridging loan**, it usually comes **together with a home loan** from the same bank, as both are tied to the property purchase.

✔2 Another approach is to **negotiate with your renovation contractor** to shorten the completion timeline to around **2 months instead of 3**, so you can align it with your move-in schedule.

✔3 If timing becomes tight, you can **shift in first while minor defects are being fixed**, but this will depend on how comfortable you are with some ongoing touch-ups.

★ “In the middle of difficulty lies opportunity.” – Albert Einstein ★
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