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Sorry to hear about your situation.

It is true that engaging an agent will incur fees, but you might find it worthwhile. The value-add on both ends of the equation would likely more than cover the agent fees that would be due.

1) A good agent would allow you to help you maximize the sale price of your current 4-room flat.

2) A good agent can identify and negotiate the buying of undervalued properties for your next home.

3) A good agent will also be able to provide advice on your specific situation, while supporting you on the paperwork and details in the selling and buying process. This would help lessen the stress during this transition period, which could otherwise be stressful on you and your family.

I'm a Harvard graduated real estate agent with a degree in economics, and I have a decade of experience working on Singapore public policy.

Let me know if you think it might be helpful to chat further about your situation. We can schedule a FREE consultation if you need any support. No obligations to engage me if you decide afterwards to DIY or engage someone else.

Kay Cloud
The Harvard Educated Agent
Propnex Realty Pte Ltd
cloud@propnex.com
Tel: (+6.5.) 8.5.6.7.4.5.8.5
Whatsapp -> https://wa.me/6585674585 Read More

Hi

You may want to clarify two things with the HDB officer, namely how much exactly is the arrears plus interest to repay, and if the sale cash proceeds is able to exceed that amount, why is there a need to use all the sale cash proceeds to cover that and balance transferred into the CPF OA?

If its due to 2nd hdb loan requirement to port over 50% sale cash proceeds into the next house, perhaps you might want to consider the bank loan option that might allow you to still keep some cash proceeds?

And looking at the preliminary info it looks you might need to downsize as well to achieve your objectives (cash out and fully pay if possible), is that workable? Basically have to look at a lower purchase price versus your sale price.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan.

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Good day to you,

What is the total loan balance and the amount in arrears?
How old are both of you? Additionally, what size are you planning to move into?
Have you thought about taking a bank loan, since you aren’t required to use 50% of the sales proceeds if the CPF and loan amount are sufficient?

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Regards
Mike Lim
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ERA Read More

The most important thing in my opinion is to work out the finances, your estimated selling price and proceeds from your sale to the purchase to understand what your options are before deciding if you have the resources to appoint an agent or whether this sum of money can be better spent elsewhere.

——

I have been in the real estate business since 2009, with more than 15 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 15,900 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.

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Hi,

1) A 4-room BTO bought at 2012 should costs around $400k++.
2) Your monthly mortgage should be around $1.5~1.8k dependent on how much did you loan from the HDB.
3) The current resale 3-room HDB flat are transacting at $400~$550k.
4) The current resale 4-room HDB flat are transacting at $500~$650k
5) You would be able to clear your arreas, outstanding loan of around $200k, returning CPF utilized for the mortgage throughout these years after the sales.
6) Since you highlighted you intend to do it yourself, it is important for you to check your current outstanding loan and CPF utilized throughout these years from the HDB portal and CPF account respectively to do a careful calculation to ensure it is doable to achieve your objective.
7) The monthly mortgage can be reduced after selling and buy another lower remaining lease 4-room flat.
8) If your family size is small, you may consider buying a 3-rm flat. Otherwise, I would still encourage you to maintain the flat type.
9) Difficult period might not be as bad as you perceived. A good living place is important for us to have energy to face daily challenge.

All the best!

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answers your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer Read More

Hi Mdm,

It is always a good option to reduce your financial commitment or make the monthly amount more manageable.

For your situation, it is important to do up a detailed calculation so that you can determine how much cash proceeds can you get back from the sale and also how much you will need to commit towards the resale flat.

With a detailed calculation, you will be able to know whether is it a worthwhile option to proceed and whether at the end of the move, whether you can get back some spare cash for renovation. The cash proceeds will not go back to your CPF OA, only those CPF amount that you have used previously will be refunded to OA.

It is important to work with an agent whom you can trust to work out the figures before planning your next move. I have assisted my clients who are in the same situation as you to downsize their home and reduce their commitment.

Please feel free to contact me so that I can understand your situation and assist you further!

Regards,
Nick Tan
(M) +65 96 44 48 54
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

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Sunny Ng (Seller) April 2024

Selling our house was a pretty stressful ordeal, as we have already committed to buying our new home and hence have a timeline to meet. Losing a substantial Read More

1. It’s important to **ask HDB for a breakdown** of the **total arrears (including interest)** and confirm **why the full cash proceeds from the sale** must be used to repay it—especially if the proceeds **exceed** the arrears. Clarify how much, if any, will be **returned to your CPF OA** after repayment.

2. If this is related to the **second HDB loan requirement**, which mandates that **50% of sale proceeds** be used for the next flat, you may want to explore a **bank loan instead**—this option offers more **flexibility with cash retention**, provided your CPF funds and bank loan sufficiently cover the next purchase.

3. To better assess your options, consider sharing:
– Your **outstanding loan balance** and current **arrears amount**
– Your **ages** (as that affects loan tenure)
– The **flat type and size** you're planning to buy next

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Thanks for sharing your situation — it sounds quite challenging, and it’s good you’re exploring your options carefully.

With outstanding mortgage arrears, HDB’s process can be stricter. The form you mentioned (not HFE) might be related to arrears restructuring or a special application, and it’s true that sale proceeds usually go towards settling the existing loan first.

Using some of the sale proceeds for renovation or other expenses may not be allowed until the arrears and loans are cleared, so it’s important to clarify these rules directly with HDB.

Regarding agents, while it’s true agent fees add to costs, a good agent can also help you navigate the resale and financing process efficiently, which might save you headaches and money in the long run.

You might want to consider talking to a mortgage specialist or financial advisor alongside HDB to explore repayment or refinancing plans.

If you want, feel free to reach out to me privately, and I can help point you towards the right resources or assist with the resale process if you decide to engage an agent.
– Aren Goh | +65 9657 6701  (PropNex) Read More