AskGuru Q&A Community

Hi,

For private property, you can only take bank loan, of which max is 80%, and a minimum of 5% cash is required. If you are using the sale proceeds of hdb 5-room to fund the condo purchase, assuming you can loan max 80%, the transition shouldn't be an issue. It is however, still best to do a detailed financial plan and plan the timelines before making any commitment.

May I understand your plans and requirements further so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
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Hi Buyer,

Pls inform your existing property details, will revert with the median transacted price for the past 12 months.

1) Log in to HDB page to see the outstanding banking loan and CPF with interests. Check your existing OA CPF balance
2) Which resale condo you are keen now.

I am contactable at 92222389  or onassis@sgrealtor.com / sgagent.com

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

EXPERIENCED. PROACTIVE. SINCERITY. FEEDBACK
ACTA (Full); PDCE (Singapore); MSc BIT(Middlesex); BBA (South Australia)

Singapore Line : (+65) 92222389 
Malaysia Line: (+60) 111-0788889
Email: onassis@sgrealtor.com / sgagent.com
Skype: incomecare

Our Clients' Success Is Our Success
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Good evening buyer,

We can do both transactions concurrently. While we are searching for a qualified buyer, we can start house hunting. Once you have granted option to buyer, you are eligible for max 80% loan.

Cash outlay will be:

1) 5% cash downpayment (1% to secure unit, 4 % to exercise unit within 2 weeks from otp grant date)
2) estimated 3% buyer's stamp duty (usually have to fork out cash first then reimburse back by CPF OA funds if you have excess)
3) legal fees $3k
4) pro rated property tax
5) valuation fee etc

Almost all my buyers purchased units at valuation so you dont have to worry you have to fork out cash over valuation.

In addition, we can request for 3 months temporary extension from your HDB buyer so you will have sufficient to renovate and move into your new place without the need of temporary accommodation and shifting places twice.

Hope my explanation helps!

How can I value add further in your upgrading plans?

Like my FB page: www.facebook.com/yt.tan91115171

Just to share!

Only a one time sign up, you will be able to receive a free SMS update on the value of your home and neighborhood from me on a monthly basis.

Click this now: http://goo.gl/Gg5pe3!

Join me on board towards a hassle free update on valuation now!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com

Powerful Negotiators
No.1 team in Propnex Read More

Evening,

Since you are selling your HDB unit, you will not be required to pay for ABSD if you are SC. For the purchase, you will need to prepare the following:

1) 5% cash for down payment
2) 15% CPF and/or cash for down payment
3) 3% CPF for stamp duty and legal fee
4) Valuation fee and miscellaneous of around $1k

With this said, the actual amount of cash needed will depend on your buying price, how much CPF funds you have and how much loan you are eligible for.

Do feel free to contact me for further discussion.

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

Hi,
With 80% bank loan eligibility, 5% cash for down payment is required. Can I assist you to compute the estimated loan quantum?

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More

Hi upgrader,

In current market conditions, you should start marketing your HDB flat first, as it could take some time to find the right buyer with the right price; minimum of 5% cash downpayment would be needed whichever the situation (full bank loan, sufficient CPF OA for 20% downpayment etc); should your HDB sale be a positive one, you could possibly settle the outstanding loan and still receive cash proceeds.

Feel free to contact me at your convenience, and we can carry on from there.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More