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I currently own a resale flat bought 10 yrs ago using bank loan without taking any grant. I bad also booked a BTO using HDB loan as 1st time which will be ready in 1st quarter 2015. I want to know should i sell my flat first before getting the keys to the BTO or I can sell after getting the BTO. Any contra facility if i choose the latter option for hdb to disburse the loan after i sell my current flat? can i keep all the cash proceed? hdb website is not clear on issues for my case.
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2 Answers

Mike Lim
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Evening Wilfred,

Under the HDB ruling, you're requid to sell off your current HDB unit within 6 months from key collection of your BTO unit. However, this would be highly dependent on your financial ability. If you need the fund from your sales to facilitate the purchase, you do not have much of a choice.
If you choose to buy first and sell later, contra facility would not be applicable.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
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Sharique Tan
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