AskGuru Q&A Community

Morning Mr Din,

First of all, you have to fulfill the applicable minimum occupation period of your HDB before you can place it for sale under the open resale market.

For sale of HDB, main cash outlay will be HDB resale submission, conveyancing fees and agent's commission.

As for purchase of resale EC, if you dont have any outstanding housing loan. You should be able to loan up to 80% from banks if loan tenure does not exceed retirement age of 65 years old. If it does, it will be 60%.

Based on 80%, downpayment will be 20% consists of 5% cash and 15% CPF (shortfall by cash).

Mr Din, you have to come out with at least 5% cash already. Other cash outlay will be legal fees, mortgage's stamp duty and buyer's stamp duty in cash first (reimbursed back if got sufficient CPF)

So no matter what, you have to come out with some cash for your sale & purchase transactions.

Hope it helps!

Cheers!

Warmest Regards,
YT TAN
District Manager
R043025D
(M): 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
ECG Property Pte Ltd Read More

Hi Mr Din,

I wouldn't commit that no cash dealing will be involved in the transaction unless I am able to calculate the estimated cash proceeds for your sale and determine the location and size of resale EC you are looking at.

Raymond has roughly pointed out the basic cash up front you need to work on for your purchase. As it is likely to take a slightly longer time frame to complete the selling of HDB, proper financial planning is paramount important. Do consult a banker to assess your financial comfort in purchasing and working out the comfortable price range.

Should I be able to assist further, feel free to contact me further.

Regards,

Geryl LIM
Senior District Manager/Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
ECG Property Pte Ltd (L3009759F)
Dynamic Alliance Group @ www.DAG.com.sg

**Aspiring to be your preferred partner in real estate** Read More