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I am now staying at a HDB. I intend to buy a condo and sell the HDB. question: If I buy a condo that is going to TOP next year? do I have to pay the downpayment upfront all in cash? or can I pay the 5% cash first. then wait till I sell the HDB and pay the balance 15% with my cpf?
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5 Answers

Hi,

Unfortunately no, you have to settle the 5% cash+15% cpf downpayment within 8 weeks of booking of your condo unit. I understand you wish to minimize the cash outlay, may I understand your requirements further so to value-add to your housing plans. Will be glad To illustrate the financial planning involved to achieve your objectives. Thanks and hope to discuss further.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
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Hi Mr Ng,

Thanks for your query!
For under construction properties-
5% booking fee Cash is needed for the booking of unit to issue OTP.

Following that, you will need to pay 15% cash/CPF within 8 weeks of the booking.

Well, no worries.
To kickstart,
(1) We may need to catch up and speak more in details to understand what exactly you are looking for in your ideal home.

(2) Run you through the financial cash flow calculations
(Utilization of Cash/ CPF and breakdown of payments)

Go over progressive payments chart and timeline of payments -

(3) Have your In Principal Approval (IPA) assessed and done-
By my network of bankers at no cost.

This is to ensure a smooth flow of cash outlay so that we can maximize the purchase and sought alternatives if there is any issue.

As you know, purchasing a property is likened to an investment in a priced asset and as such, it requires critical and well thought through analysis and rationale before committing. As I specialize and am very active in the private property market, I would like to extend my services to assist you in your purchase. If you may not have already known, engaging a realtor to represent you in your purchase does NOT make you liable for any fees. In a nutshell, you pay nothing for my service and consultation but I assure you of handling the entire technicalities of the purchase to best protect and maximize your interest.

If you are comfortable with working with me for your real estate needs, I will be most glad to render my services, advise and expertise accordingly.

Visit my website to view all my recent accolades - esteemed awards and testimonials to gather more information on me: www.kumarrai.com

D Kumar
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ERA Associate Division Director
www.kumarrai.com

#1 team of ERA in Singapore, Asia Pacific International for 2014.

About Me-
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Hi Jo,
5% + 15% is a must for condo purchase. I would suggest to sell you hdb and look for suitable condo concurrently. Please drop me an email for me to share the details.

I can be contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More
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HI Mr Jo, there is a few issues you would have to take note in order for you to proceed with your proposed plan. Firstly the 5 and 15% would have to be all in cash with the remaining 80% covered by loan. If you are still financing your HDB. you can only loan up to 50% for the project meaning that you would have to folk up another 30% cash and the ABSD which would be refundable upon certain conditions. Do drop me a call or m mail for a more detailed discussion if you are interested to learn more and we can work out a plan for you before you proceed with your hunt.
Cheers
Rix Jim
 9687 1379 
rix.jim@hotmail.com
Propnex Read More
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Afternoon Jo,

Down payment of 15% is only applicable if your HDB unit is fully paid. Else the down payment will be 50%. This payment is to be made within 8 weeks from exercising your Option. You will also need to be aware of the CPF minimum sum requirement for the purchase as your HDB have not being sold. Therefore, it would be good to have both things done concurrently to maximize your capital outlay.

Do contact me further for detail discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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