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I wanted to upgrade to a resale EC, but I don't have the 5% cash. But I do have a 5rm flat to sell. So I want to use the sale proceed to help finance the 5%. Is this possible? Should I sell my house first? Or both buying and selling be done at the same time? Please advise dear Gurus. Cheers!
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1 Answer

Ander Ang
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Hi,

In your case, you definitely need to sell your 5rm flat first since you need the sale proceeds to finance the 5% cash downpayment for resale EC.

The best option is to look for temporary accomodation to tide over the transition period (probably for 6 months). Alternatively, you can move in with relatives/friends/parents to stay.

Thanks,
Ander ERA
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