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I own a HDB 3 rm in TP.
Outstanding loan with HDB is around 60k
Valuation of flat is 350k and COV is 25k.
CPF with int to return is 112k.

2 Qns:
1.Please let me know how much cash proceed I have upon selling

2.If I am taking 2nd loan with HDB and is doing contra, how much cash proceed can I get.. cos i hear HDB will not give 100% cash proceed to us.
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2 Answers

Ander Ang
Replied
Hi Arsene,

You will get:

1) $375k - $60k - $112k - $5k (deposit paid by buyer) = $198k.

2) If you are taking 2nd HDB loan, you can only keep 50% cash proceed.

If you have further query, pls call me at 96836230  to discuss.

Thanks,
Ander ERA Read More
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Mike Lim
Replied
Afternoon Arsene,

As per your statement, your gross cash proceed from sales is:
$375k - $60k - $112k = $203k
For purchase with HDB loan, 50% of this must be used, along with all your CPF monies must be used before HDB will dish out the balance to you. This figure is also dependent on your income status and credit record. Technically, you should have about $90k cash after paying off the legal and stamp fee for our purchase.

Do feel free to contact me if your require further assistance.

Regards
Mike Lim
 96929209 
ERA Read More
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