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Hi MS,

Based on your current situation, i think it is possible for you to downgrade from 5rm to 4rm. But i need to know more details of your financial status to work out the feasibility of the downgrading plan.

If you take up a bank loan for the next flat, you can take back all the cash proceeds from sale of the existing flat.

Also, you can use CPF to service the monthly instalment of the bank loan.

For such downgrading plan, the timeline is important. Appreciate you can call me at 98628691  to discuss further.

Thanks.
Ander Ang
DTZ Read More

Hi MS,

You are able to service the bank loan using CPF. It will not be required for you to utilise the cash proceeds for your next purchase should you be using bank loan.

You may time the transactions as such that your sale will be completed before your purchase to free up the cash proceeds for purchasing. This may require some effort to ensure timing is done well such that you will not end up without a roof overhead.

Regards,

Geryl LIM
District Manager/Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
ECG Property Pte Ltd (L3009759F)
Dynamic Alliance Group @ www.DAG.com.sg

**Aspiring to be your preferred partner in real estate** Read More

Afternoon MS,

With downgrading, it's likely to have cash profit. This would be sufficient for both of you to proceed with the downgrade. Working out on your financial computation would definitely be helpful in planning your next course of action. By taking bank loan, you are eligible to keep your cash profit, less the 5% deposit and COV component which you are required to pay your seller. You are also eligible to pay the monthly installment using both your CPF OA and top-up the difference in cash if you do not have sufficient.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
ERA Read More