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Hi, my new BTO flat is ready anytime for key collection but I heard I need to sell off my current flat before HDB can release the keys to me, is this true? And can I use my sale proceeds to finance the new flat purchase?
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7 Answers

Hi Simon,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, nope it is not entirely true. If you have sufficient funds to pay off and to collect the keys of the BTO flat, then you be given 6 months time to sell off the existing flat upon receiving the key.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Yes you are right, back to back process for you. Once sale done, the fund will roll over for purchase. Looking forward to assist you at 9696 4398  or email stewartlim96964398@gmail.com

Cheers
Stewart-PropNex Read More
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Hi Simon,

It is not necessary to sell off first before key collection to the new BTO, as long as you have sufficient funds on hand to cover the balance purchase price. If so, you can collect the keys before selling off the place.

That said, most owners would like a seamless funds transition meaning using sale proceeds and port over directly to cover the purchase price. In this case, the sale has to be completed first while we request an extension of stay for reno purposes and to move in before handing over your old unit to buyer.

I have done several of such similar cases and am very familiar with the timeline and payment milestones. Look forward to work on your case together as well, I'm contactable at wa.me/6597432395

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

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Ivan Ng Realtor
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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.

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Translation from Mandarin:

We are from the Pioneer Generation, already in our 70s, and have no experience selling HDB flat. As our new BTO is arriving, we considered selling our flat earlier.

We felt he was a patient agent who is willing to hear out our plans and concerns, and explain new HDB selling procedures clearly to us. He is also a hardworking agent who did Roadshows for weeks to create awareness for our unit, and we quickly found a buyer through this avenue.

We also appreciate that he made the extra effort to accompany us down to the Banks and Town Council to help us with the outstanding paperwork procedures, and ensure the sale go through smoothly. Throughout the process, we always felt assured and happy, as Ivan was always professional, accessible and saw things through till conclusion. Ivan will remain as a family friend and we will be glad to invite him over for coffee when our BTO is ready. Read More
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YT Tan (陈永达)
Good evening Simon,

Will you require funds from your sale to finance the purchase?

If yes, you have to sell off your unit first. Request for extension. When your funds are back during your extension, pay HDB and collect keys. You use the balance extension to renovate and move in. I had done this for my Woodlands seller moving into BTO last month.

If you dont require, you can proceed to collect keys. Just need to sell off your existing HDB within 6 months from key collection date.

Care to share more about your situation so I will be in a better position to advise you further.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

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Hi Simon,

Congrats on your new BTO. You can certainly use your sale proceeds and the CPF refund to finance the purchase of the BTO. I have assisted many of my clients to plan it this way so that they can minimise their cash outlay and more importantly transit smoothly from their current place to the new one with some buffer time for renovation.

Feel free to contact me so that I can give you an overview of how we can plan the process and draw up a transition plan for you!

Regards,
Nick Tan
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I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
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Hi Simon,

If you require to use the funds from your sale of your current place to finance the purchase of current property, then you will need to sell the current place as you will need to complete the purchase transaction in order for you to collect keys from HDB.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
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1
Robbie Chen Chee Howe
Hi Simon,

True and not true.

If you require the sale proceeds from your current flat to pay for the BTO flat, then yes, you will need to sell the flat off first before you can collect the BTO keys.

However, if you do not require the sale proceeds, you can collect the keys first and then sell your current flat within 6 months.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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