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i wanted to sell away my shoebox one bedder and buy a resale hdb. was wondering if i could still live in my condo til the resale hdb i eventually buy after reno is ready to shift.
Secondly, how much cash do i need to fork out ist in order to secure the resale hdb as i will have yet to collect the profit due to transaction not done yet.
How long will i be able to collect the profit after the transaction of selling is over as i will need the money to reno and buy electrical appliances.
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2 Answers

Mike Lim
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Afternoon,

For resales of private property, your buyer must be willing to either rent the unit to you after completion of transaction or grant you rental at Will in exchange for possible lower resale pricing. Standard S&P process will take around 3 to 4 months.

As for how much cash you need to out in order to secure a resale HDB unit would depends on the following:

1) Are you PR or SC?
2) Are you taking HDB loan or Bank loan?
3) What is your HLE or IPA amount?
4) How much CPF do you have at hand?
5) Are you looking to sell first and buy later or do you intend to work with a bridging loan?

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

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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OHMYHOME PTE LTD
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