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I plan to sell my condo, and plan to buy a bigger HDB. But before that to safeguard my future place, I may need to buy a HDB first and dispose my condo within 6 months which is the ruling. I would like to know if I am able to get any bridging loan or what is the payment term for the HDB? Most probably I need to get a bank loan and fully redeem the loan when I sold my condo. What is the downpayment like 1% option, 4% cash, and balance 15% CPF. If there is any bank that willingly to loan the bridging of 5%? Mine seem to work the other way round.
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2 Answers

Hi Mark, The solution could be pretty straightforward. Sell your existing place with conditions to be rented back to you at certain rate for a period of say 3 months period. Therefore once your buyer has exercised the option to purchase to buy over your unit with these conditions, you are free to purchase a HDB and work out on the bridging loan portion. Technically speaking, if the timeline is worked out well enough, you do not even require a bridging loan. Finer details can be discussed if you wish to as I have a team of consultants who are experienced in assisting our clients in carrying out such transactions. Call me soon for discussion. Regards, Geryl LIM Real Estate Director Masters Of Real Estate (L3010548F) CEA Reg R014783H Mobile: +65-81577565  /+65-92787772 Email: geryl7772@gmail.com https://www.facebook.com/propertyblogshop https://www.facebook.com/media/set/?set=a.297043923770884.1073741832.284747148333895&type=1&l=90fca1674e M.O.R.E Landed Dynamic Alliance - www.DAG.com.sg Home of *7772 Hotline Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now! **Aspiring to be your preferred partner in real estate** The Game Is Changing... International Property Opportunities Await! Don't Be Left Behind! More and more investors are seeking offshore real estate for investment. Have you missed out on the last international property fair? Let me know if you are keen in overseas investment. I would like to thank more than 120 of you who have took out your precious time in attending the original Landed Homes Sales Exhibition on 7 & 8 September. 1 unit was sold with 4 units reserved over this 2 day event. Do look forward to our next edition. Register with me if you are keen. Read More
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YT Tan (陈永达)
Good afternoon Mark, You are only eligible for bridging loan with a signed OTP for your current property sale. You can either extend the completion so at the meantime, you can hunt down your dream house in Woodlands so you will not be stranded. Hope it helps! Cheers! Warmest Regards, YT TAN 陈永达 | ACCA Graduate, RES Senior District Manager R043025D ECG Property Pte Ltd (A Wholly Owned Subsidiary of ECG Group of Companies) Estate Agent no. L3009759F Blk 190 Lorong 6 Toa Payoh #05-508 S (310190) (M): +65 9111 5171  (E): yt.lovelyhomes@gmail.com (W): www.yttan.com (W): yttan.stproperty.com.sg/ (W) www.lovelyhomes.com.sg (W) www.ecgproperty.com Read More
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