5 Answers

askguru expert
Hi,

Thank you for your question!

For your situation, please consult with one of our home financing experts by calling 8769 5300  for further assistance.

Best regards,
PropertyGuru Team Read More
0
Hi,

As long as you are not taking your 2nd hdb loan, the 50% sale cash proceeds rule will not apply. 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.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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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.

-- HDB Executive Maisonette Sellers, Mr & Mrs Yeo --

Before contacting Ivan Ng, our Property Realtor, we were quite apprehensive about our Contra-deal ( concurrent resale & purchase of HDB flats) as at that time the outlook of the resale property market was quite sluggish & pessimistic. But surprisingly our property realtor, Ivan , was able to put us at ease with his professional competence, astute work experience & friendly nature . He was able to consummate our contra-deal within one month of our HDB application. Now we are convinced by his promise that (in Ivan's own words) ... "A contra-deal is where the sale & purchase transactions are done concurrently and completed on the same day. This results in a seamless transition of the funds from your sale proceeds and CPF proceeds towards your purchase price." More importantly Ivan has also managed to clinch a good deal for our contra-deal. We'll certainly recommend him to our kins & friends. Thank you very much, Ivan. We are definitely your satisfied customers! Read More
0
Hi

I think you may have misunderstood the regulations for half cash proceed. The requirement to pay off the half cash proceed only applies if you are taking a second HDB loan and even then, the amount will be used as a downpayment for the next house. This is to encourage prudence amongst those taking HDB loan for the second time. This differs from resale levy where the amount needs to be paid in cash to HDB without offsetting the purchase price. Resale levy is applicable to those purchasing a subsidised flat (purchase direct from HDB or purchase a resale with 1st timer grant) for the second time and is meant as a 'premium' as a BTO is considered sold at a subsidised price. No resale levy is applicable when purchasing a resale. Therefore if you are referring to resale levy, it is applicable even if you fully paid for your next house in cash.

Regards
Taufik Hussein
Marketing Director
ERA Realty Network Pte Ltd
CEA Reg No: R061607B
Contact No: 93375051  Read More
0
Hi

I think you may have misunderstood the regulations for half cash proceed. The requirement to pay off the half cash proceed only applies if you are taking a second HDB loan and even then, the amount will be used as a downpayment for the next house. This is to encourage prudence amongst those taking HDB loan for the second time. This differs from resale levy where the amount needs to be paid in cash to HDB without offsetting the purchase price. Resale levy is applicable to those purchasing a subsidised flat (purchase direct from HDB or purchase a resale with 1st timer grant) for the second time and is meant as a 'premium' as a BTO is considered sold at a subsidised price. No resale levy is applicable when purchasing a resale. Therefore if you are referring to resale levy, it is applicable even if you fully paid for your next house. I am well versed in HDB matters. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
Marketing Director
ERA Realty Network Pte Ltd
CEA Reg No: R061607B
Contact No: 93375051  Read More
0
Robbie Chen Chee Howe
Hi,

As long as you're not taking any loan for your second "subsidised housing", you need to set aside any 50% sale proceeds. You're free to fully pay for the flat using your CPF.

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
0