10 Answers

askguru expert
Hi there, thanks for writing to us on AskGuru!

You may wish to consider selling and buying at the same time. Or if a loan is needed, subject to the sale of your existing property, you may proceed to purchase a HDB with a bridging loan if the completion of your sale is earlier than the completion of your purchase of the HDB.

For more details on resale eligibility, you can check out the link below
https://www.hdb.gov.sg/residential/buying-a-flat/resale/eligibility

For affordability calculations check out our affordability calculator here!
https://www.propertyguru.com.sg/mortgage/affordability-calculator

You may also put in an enquiry and our advisors would be able to assist your throughout your property purchase journey
https://www.propertyguru.com.sg/mortgage/in-principle-approval

Best Regards,
Ethan Ng
Team lead
PropertyGuru Finance Read More

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Ivan Ng
Hi EZ,

One way is to apply for bridging loan with an exercised OTP of the condo that will allow you to complete the HDB purchase first. Another way could be to time the sale completion such that it is before the purchase completion, while securing extension for you to stay in the condo beyond the completion date.

Regardless both sale & purchase activities should do both concurrently so that it is easier to execute when you have find a buyer or find a house that you like.

It is important to coordinate the transaction properly for a smooth transition and I have worked on similar cases.

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
ERA Senior Marketing Director
ERA Diamond Achiever

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-- HDB Jurong West 5-RM Sellers, Exec Apartment Purchasers, Lenz & Michelle --

We would like to thank you for ensuring a smooth and well-explained process throughout the whole selling and buying of our property. We got to know you thru Property Guru, where we are scouting for condo around West area. We remember that we are quite tight in our budget in purchasing the condo unit,but you are still very willingly explaining and calculating our financial liabilities. You are always having your smiles whenever we met for discussion.

We appreciated your process of selling and buying of our property are very systematically and well executed, from financial calculation to the purchase procedure of our new house. We are always being updated thru our group chat during the engagement of your service. We would never expect such a smooth sailing experience of selling and buying of property Read More

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Geryl Lim
Dear sir/madam,

If you need the funds from your condo in order to purchase the HDB, then your only option is to sell your condo first and use the funds to finance the purchase of HDB. You can opt to rent back from your buyer for a period of time while you sort out your purchase and renovations before moving in, then hand over the apartment to your buyer.

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.

Over the years, I have also established a network reaching out to more than 9,400 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.

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.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
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Wong Mei Foong
HI EZ, I can help you to move in to HDB without financial worry. I will assist you in financial planning and timeline planning. call or whatsapp me at 8938 7686 Mei Foong. thank you. Read More

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Robbie Chen Chee Howe
Hi EZ,

Is there any special reasons that you will need to move into the HDB flat first before you sell your condo?

Because if you require the sale proceeds from your condo to pay for the HDB purchase, it is advisable that you sell off the condo first.

If it's the house moving that you're concern of, not to worry. I will be able to assist you in Timeline planning, to ensure that you can avoid the hassle of having to shift house more than once. Your finances will also be properly managed, to ensure that your sale proceeds (and CPF monies) are in time for your HDB purchase.

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

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Ling CK
Hi EZ,

1) Under your situation, you have to do 2 things simultaneously, Sell and buy.
2) Selling of condo upon the offering of OTP is 3 months to complete.
3) Buying of HDB upon the offering of OTP is also 3 months to completion.
4) The uncertainty is the buyer must exercise the OTP within 14 days, whereas you must exercise the HDB OTP within 21 days.
5) The risk is your buyer must not back out from the purchase. Likewise, your seller must submit the resale application within 7 days of your submission. Any of these didn't carry out as planned. The whole thing will fall apart.
6) Assuming everything goes smoothly, you will still need a bridging loan in between because it took 14 days for CPF to return to your CPF account. There is a gap between selling and buying if both exercise on the same day.
7) So you can only offer an OTP after the buyer place a deposit for your OTP.

Hope the above answer to your main concerns, but if there are more query, 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

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Aaron Chong
Hi EZ,

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.

Regards
Aaron Chong
9730 8455
aaronchong2774@yahoo.com.sg Read More

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Silvia Yang
Hi EZ

It can happen concurrently as well with very careful timeline and financial planning.
I just assisted my client who have similar concern

I will be glad to assist
Appreciate if you can contact me at (65) 96608508 or Silviayang8@gmail.com with details of your unit
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508
Email: Silviayang8@gmail.com Read More

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Nick Tan
Hi EZ,

For your case, I would suggest for you to negotiate a sale and lease back or a sale with extension of stay for your condo so that you are able to use the sales proceeds and CPF refund from your sale to finance the purchase of the HDB, thereby minimizing your cash outlay.

I have assisted clients who are in a similar situation to transit smoothly and seamlessly from one property to another. Please feel free to contact me privately so that I can understand your situation better and draw up a transition plan for you.

Regards,
Nick Tan
(M) +65 9644 4854
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020

Visit my website to get to know me better:
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Testimonial from Satisfied Clients
“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”
Peter & Wendy (Property Seller)

I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
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Mr & Mrs Wong (Property Seller)

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Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)
“Nick is very pro-active in helping us to resolve whatever Read More

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Mark Ng S W
Hi Do contact me at 97970200 to discuss more

Mark, your RIGHT choice
Propnex Read More

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