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I am above 55 year old and own a Pte condo.
Now looking for a 4room HDB..
And I don’t have cash and don’t have enough CPF OA to pay for the HDB.
Can I purchase the flats before I selling …
What if my CPF didn’t returned back to my accounts on time to pay for the flats,… what i should do? What can I do to resolve this situation?
Thank you!
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5 Answers

Hi Sam, from your question, it seems to me that you need the cash proceeds from the sales of your existing property to financed the HDB purchase. as such you would have to time for your sales and purchase in such a way that will ensure that you will transit smoothly in term of your moving as well as your cash flow from your current place to your next. my suggestion is to sit down and work out a customize financial plan as well as a timeline before you proceed with your transition. Do drop me a call or text for a more detailed explanation as I have assist with many such similar case with satisfactory result.
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Rix Jim
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YT Tan (陈永达)
Good afternoon Sam,

Lets work out your number and estimated timeline before we kickstart the whole process. Especially you are above 55 years old. Your refunded CPF OA funds need to go back to OA to fulfill full retirement sum.

We could do concurrent activities. Look for replacement HDB while market your unit for sale.

We are unable to purchase first cause you dont have the necessary funds to proceeds thus we need to time the sale first in order to complete the purchase. We can consider to rent back from your buyer to have a smooth transition to your prospective HDB.

When is a good time to discuss and explore your options?

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
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Hi Sam,

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, in your case there has to be careful planning due to the lack of funds and it be good to work out the financial calculation first before you decide to go ahead for the next purchase.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Good morning Sam,

In your scenario, it appears you will need the sale proceeds of the current property to come back in time to complete the purchase. Not to worry, I have done various similar cases and will be happy to coordinate the timelines smoothly so you can have a smooth transition.

It is best to do both sale & purchase concurrently, so the payment milestones are in time and you can move in to the new property at the same time you hand over your existing one.

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
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Hi Sam,

For purchasing the HDB, you will just need the option and exercise fee of $5,000 to confirm the purchase of the HDB and thereafter, we can time the purchase and sale such that you will be able to utilise the sale proceeds of your private condo for the purchase. With proper planning of the timeline, your CPF would have sufficient time to pay for the resale flat.

Feel free to contact me so that I can run through the process with you and draw up a tailored timeline for you to ensure that both processes can be done smoothly and seamlessly.

Regards,
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