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I am currently the sole owner of a HDB 4A type in Tampines. I have paid up about $180K of CPF and there is still an outstanding loan of about $180K. I wish to upgrade to 5A or EM. Do I have to sell off my current flat before I can purchase a new one since my OA is only about $5k?
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6 Answers

Good afternoon,

It also depends on your loan amount attainable, but it appears likely the sale proceeds must return first before you can complete the purchase.

I have worked on similar cases and am familiar with the east side. Happy to share more. May I have more info and requirements about your plans so 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

It will be necessary to do a financial plan on your sale and purchase before embarking of this journey.

You may text 9620 0827  for an open discussion.

Regards

Gavin Read More
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Dear sir/madam,

As you have only made known your existing CPF OA balance, it will be difficult for us to tell if you are able to go ahead with the purchase first as you have have sufficient cash on hand to go ahead.

Otherwise, it is likely and more advisable to work on getting a matching buyer for your existing place first before embarking on the next home search, although I understand that you can potentially feel compelled to purchase the next place, either through a higher price or settle for a less than ideal place. This can be vice versa, where if you were to settle for the purchase first, you maybe compelled to sell at a lower price for your existing place due to the timeline requirements.

My advise before doing anything, is to understand the position you are in before embarking on the next step. Understand the supply and demand of both your sale and purchase, before moving ahead. Some units can potentially face more challenges to sell while the supply of units which you intend to purchase can be high, therefore it will be more sensible to sell first than to purchase. Should you have very niche requirements in your purchase plans, that can potentially tilt the process the other way.

I have been in the real estate business since 2009, with more than 10years 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. Furthermore, I am also a resident of Tampines myself, and have grew up in this part of the island, now raising my own family here.

Over the years, I have also established a network reaching out to more than 8,500 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my clients’ 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.

Please feel free to reach me from my website www.geryllim.com or connect with me directly on my mobile phone at 81577565  .

I look very much to meeting you soon.

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Dear Sir/Mdm,

If you wish to use the sales proceed and the CPF that you have used for your current house to finance the purchase of the next house, then you will need to sell this house first and time the sale and purchase together. Alternatively, you may secure another loan to purchase the next house first before selling the current one but you may end up servicing both loans.

I have assisted many clients in a similar situation as yourself. I am very familiar with Tampines and have just transacted a 4 room flat in Tampines last week. Please feel free to contact me so that I can gather more information from you and assist you further!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
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“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
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Susana (Buyer Read More
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Hi there, Is there any particular reason you would like to purchase first then sell? Upgrading is a stressful process. To have an experienced agent to plan for you on selling and buying timeline and your financials will be the best bet to go through this transition smoothly and calmly. I wish you the best on selection of a professional sales person that works/fights for your benefit and a smooth transition! :) Read More
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Joanne Chia 谢诗琳
Good day sir / madam .

Due to cash flow reason , unless you have lots of cash on hand , it is most likely you need to sell your present hdb before buying the next hdb .

I am NOT able to contact you directly as i do NOT have your contact.

Kindly contact me Joanne Chia at my handphone +65 8333 3327  for a no obligations chat for your property needs.

Commission rates are negotiable , market rate is about 2% plus minus .

My rates are 1% commission for exclusive ( sole agent ) selling rights to your property or 2% for open listing ( many agents ) .

Joanne chia
Email : Chia_joanne@yahoo.com.sg
Handphone +65 8333 3327  Read More
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