6 Answers

askguru expert
Hi Dave Ho, thanks for writing to us on AskGuru.

It will usually take around 2 weeks after completion for your CPF to be refunded to your Ordinary Account (OA). You will need to have sufficient amount in your CPF OA and to assess your financing if you wish to buy your next home. This is done when you register your Intent to Buy.

Therefore, you should submit your Intent to Buy first 2 weeks after completion and then submit your resale application.

Hope this answers your question.

Best Regards,

Team PropertyGuru
Ivan Ng
Hi Dave,

To be safe the submission should be of a 3 weeks gap, with the sale completion first. If no bank loan is involved in either case, you can also potentially apply for the enhanced contra facility and avoid this 3 week gap, as contra allows a seamless transition of the funds on the back end.

With above said, the completion date can also be negotiated and discussed upfront so that the dates are aligned. If you work with an experienced agent the timelines can be coordinated with all parties so that you have a smooth transition.

I have worked on various similar cases and would be happy to share the best approach. May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

ERA Top 11 Achiever in June 2020 (Top 1% Company Level)
ERA Top 91 Achiever in 2nd Quarter 2020 (Top 2% Company Level)
ERA Top 15 Achiever in April 2019 (Top 1% Company Level)
ERA Top 86 Achiever in Sept 2019 (Top 2% Company Level)
ERA Top 510 Achiever in Year 2019 (Top 8% Company Level)

SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.

Contact: (+65) 97432395
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
WeChat: ivanng10
FB: fb.com/IvanNgRealtor
W: ivanng10.com/clientreviews
(Client's Testimonials)
CEA: R052114D

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --

I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.

-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --

I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan.
YT Tan (陈永达)
Good evening Dave,

I understand your intention to transit smoothly and seamlessly from current HDB to next HDB.

But based on current market, it will or could be better to buy first then sell.

I will fight for a longer resale submission period for your purchase so we can have more time to find a qualified buyer for your place and by doing so, you wont be stranded.

Did you take up HDB loan for your current HDB? We can use enhanced contra facility for both sale and purchase (if you are taking HDB loan again) so both transactions can submit and complete on same day respectively. Therefore you wont have to worry about cash and refunded oa funds cant be back in time for purchase.

Having said so, if you want to stagger transactions also can. I done three weeks in between sale and purchase before but HDB officer did advised to have all the CPF OA funds required for purchase to be back when you do submission.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

Mobile: 91115171
Email: yt.tan91115171@gmail.com

Do follow me on:

IG: instagram.com/propertykaki
FB: https://www.fb.com/propertykaki/
YouTube: https://bit.ly/Youtube_PropertyKaki

To find out what’s the estimated valuation of your existing house, try our SRX property tracker.

You will receive free sms update on a monthly basis.SRX property tracker: http://bit.ly/yt_proptrack
Robbie Chen Chee Howe
Hi Dave,

Submission period is actually not the crucial part, it's the completion that is crucial part. In fact, with proper planning and mutual agreement, you can even submit the case for your purchase before you submit for your sale. You do not need to wait till your sale completion to submit the case for your purchase.

As you're doing both sale and purchase at the same time, and that you require the sale proceeds from your sale for your purchase, it is advisable to engage the same agent to handle this Timeline for you. I believe that apart from the financials, you would also wish to avoid the hassle of having to shift house more than once during this transition, right?

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
9748 6305
PropNex Realty
Nick Tan
Hi Dave,

In order to use the sales proceeds and CPF refund from the sale of your BTO to buy a resale HDB, I would suggest you to use a private lawyer for the purchase so that the min time between the completion of the sale of and purchase can be only 3 weeks apart. If both HDB are under HDB loan, you may opt to use contra so that both the sale and purchase can be completed together.

I have assisted many of my clients in such a scenario and careful planning is required to ensure that the funds can flow in time and you can transit from one property to another smoothly and seamlessly.

Please feel free to contact me so that I can understand your situation better and draw up a transition plan for you.

Nick Tan
(M) +65 9644 4854
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020

Visit my website to get to know me better:

I was featured recently on Council for Estate Agencies (CEA) Newsletter:

Testimonial from Satisfied Clients
“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
Peter & Wendy (Property Seller)

I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
Weilun & Benita (Property Seller)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations. We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly reco
Ling CK
Hi Mr. Dave

1) The reason for submitting BTO sales 2 weeks before your purchase is to allow time for the CPF board to disburse your return fund for your purchase.
2) On paper, it is 14 working days for the CPF board to be able to process the return fund from your sale proceed and pay for your purchase.
3) Thus 2 weeks is just an estimated timeline.
4) To be on the safe side it is 2 weeks + 4 days ~ 3 weeks to guarantee the smooth transition.
5) This was the reason why some people is using enhanced contra facility (ECF) to ensure no delay.
6) But in order to make use of such a facility your current BTO has to be fully paid, and if you need a loan for your new purchase you can only choose to use an HDB loan.
7) If this is the 2nd time you are applying for an HDB loan, a policy is known as the "right-size" policy will kick in which means half of your cash from the sale proceed has to use for paying off the new purchase.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK

Any response to our answer does not reach us.
The best way to get a follow-up is to Whatsapp or email us directly.