G'day Des,
These are some considerations for your reference on buying a BTO from HDB.
1. Do you have sufficient money in your CPF or Cash for the 10% booking fees as Downpayment? (10% for buyer taking HDB loan, 20% for Buyer taking Bank Loan)
- If yes, then you can apply first & sell your current unit later. There is a 6 month grace period to sell the current unit after collecting your new unit key.
- If no, then you may want to sit & discuss the various option available with a realtor.
2. During selection of unit, an option fees is payable depending on the type of flat you applying. Range $250 (Studio) to $2000 (4/5 Flat).
3. Next payment will be the downpayment of 10% & 20% depending on who you taking loan from, HDB or Banks respectively. (Actual time frame must check with the HDB officer during your selection of unit)
4. Is your application going to be the same owners status (you & your mum) as the current unit? If yes, like what Ms Jess has mentioned, there will be a resale levy imposed.
5. If you need to take any loan, you will need to present the HLE/Letter of Offer to the HDB officer on the day you selecting the unit & also a latest HLE/Letter Of Offer upon the completion of the BTO.
Hope the above information is sufficient for you to make a sound decision.
Shall you required any further discussion, you may contact me (with no obligation) for a coffee talk.
Best Regards,
Jaslin
Huttons Asia Pte Ltd
Mobile :
8333 9131
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