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I still have bal loan of $100k from HDB & I cant sell my 3rm flat in 186 Boon Lay Ave unless I pay 50% of the amount.

As such I am looking for buyer that willing to pay deposit of $80k.

High floor. Near Amenities. Will sign the exclusive if the agent have such buyer.

I want to downgrade to 2rm flat somewhere in clementi, bt ho swee, bedok, chai chee.

This Boon Lay flat is my 2nd, am I still entitle to HDB loan if I were to downgrade & it is the 3rd.

Kindly advice & Thks.
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1 Answer

Mike Lim
Replied
Afternoon Jen San,

Are you saying that you are suffering negative sales for selling your current unit? Getting buyer to pay $80k COV for unit in Boon Lay Place is almost impossible.

As for getting 3rd HDB loan, possibility a market rate loan, it will have to go through appeal process. This can only happen if you have bad credit report and banks are unable to dish out and mortgage loan to you. It's tough but not impossible.

FYI
Mike Lim
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  • JS
    Replied
    Hi Mike,

    I bought this flat in year 1998 for $118k.

    I check from HDB statement that I still have an outstanding of $100k which I guess after monthly deduction, it didnt cover much but only interest.

    I havent apply valuation yet & nor am I in the midst of selling it.

    Thks.

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