My current HDB estimated can be sold for $400k and the condo I am eyeing for is around $800k. As a newbie in buying properties, I am wondering what is the procedure say after I sign on the dot to purchase to condo at $800K. At this stage obviously I wouldn't be able to 100% confirm what is the selling price of my HDB thus how will I know how much I need to loan from the banks?
The selling price of my HDB is a major factor in determining whether how much balance left(after deducting from my CPF) I will need to borrow from the banks. How is this being done? I believe most people are in this situation.
Appreciate any expert advise please. Thanks a lot.