Asked by Anonymous
Hi, my bto ballot was successful and the waiting period for completion is 5-6 years. Few questions to ask:
1. Have current flat to dispose nearer to bto completion (complete Q32025) but lease agreement for bto is 4-5 months time. Which means some payment to be made. Is HDB able to offer me a contra kind of agreement? Which means no payment until currently flat is disposed later.
2. If yes, when do i apply for the contra facility? During selection of flat, signing of agreement lease or collection of keys?
3. I have to take bank loan this time round. Do I still apply for the bank loan under the contra agreement? If yes, when do I have to apply for bank loan and present the letter of offer to HDB?
4. If my resale can cover the new bto or I am able to top up the cash, can I reject the bank loan?
Thank you in advance for the reply.
1. Have current flat to dispose nearer to bto completion (complete Q32025) but lease agreement for bto is 4-5 months time. Which means some payment to be made. Is HDB able to offer me a contra kind of agreement? Which means no payment until currently flat is disposed later.
2. If yes, when do i apply for the contra facility? During selection of flat, signing of agreement lease or collection of keys?
3. I have to take bank loan this time round. Do I still apply for the bank loan under the contra agreement? If yes, when do I have to apply for bank loan and present the letter of offer to HDB?
4. If my resale can cover the new bto or I am able to top up the cash, can I reject the bank loan?
Thank you in advance for the reply.
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