Asked by
If I bought a new resale flat but have not sell my existing flat, how would I or HDB know how much loan? For example if I bought a flat at 870k and I need the money by selling my flat to pay for the new flat.. but I have yet to find a buyer. In this case, which I think I common, what will HDB do?
0
2336 views
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

7 Answers

YT Tan (陈永达)
Hi Weikang,

If you need funds from the sale to finance your purchase, it will be best not to commit to the purchase and concentrate on the sale first. (like I have mentioned to you in my another post).

If your funds/ loan are insufficient to proceed with the purchase, you might be sued by the sellers especially after you exercise the option so I will make sure you are financially capable at that point of time before you exercise.

Maybe we can discuss further via a meet up or chat. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.tan@propertyavenue.com.sg
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More
0
Morning Weikang,

Based on your statement, you are taking HDB loan for your new unit, right? HDB will only assess your loan eligibility based on the maximum amount of loan that they can disperse to you. If your current unit is under HDB loan, other calculations will come into the picture.

Do contact me further for detail discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
0
Hi,

If you need sales proceeds from your current flat to fund the next purchase, it is advisable not to commit to the purchase first.

With current resale market, it could take a longer while to find a buyer so it is better to sell your unit first. Definitely, as agents we will manage your timeline carefully so to ensure the transition is smooth and you only need to move once.

We will also plan the financials such that you will not be disadvantaged. Thanks and may I understand your housing plans so to value-add further?

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More
0
Joanne Chia 谢诗琳
Good day Mr Weikang

Kindly contact me for a no obligations chat for your property needs.

My charges are 1% commission for exclusive selling rights to your property or 2% for open listing .

Joanne chia
Hp 8333 3327  Read More
0
Johnny Goh Mui Huat
Dear Weikang,

It is common now that it is easier to find your ideal home but struggle to find a buyer for your own property. However, there is nothing HDB can do if you commit the buying first. If you are not able to complete the sale due to lack of fund, the other party can take legal action against you.

Therefore, it is better for you to find a buyer for your EM first.

With regards to the question on COV. It is not possible for you to know the COV until you commit the purchase and valuation is done. Therefore, a detail financial plan is very important for this reason.

Hope that I had answered your questions.

I would like to offer my service for both your selling and buying.

I have a mind blowing marketing plan.

Not all internet marketing is the same, especially during this low period. We have the most advance marketing tools to give your property maximum exposure. One of the tools we have is virtual tour. But that is not all we have, and there are many other tools and strategy that give me and you an unfair advantage over the rest.

Check out video at this link http://youtu.be/4a02hTxJS6U
Check out virtual tour at this link http://goo.gl/VDF3I

Don’t you agree that marketing plan is most important factor when trying to get the ideal buyer for your property, especially during this slow period?

You may also to check out my testimonial at my website.

Feel free to contact me if you need my assistance.

Thanks and Regards
Johnny Goh
R018297H
Team Associate Director
OrangeTee.com Pte Ltd
Mobile: 90906267 
Email: johnny.goh@orangetee.com
Website: johnny-goh.com Read More
0
Hi Weikang
In this current market, I would strongly suggest you to focus on selling your property first.
If you do have sufficicent amount to fund for your next property, you can strongly go ahead with buying.
Or else, if you have already option but realise you do not have enough funds, it is better not for you to exercise the option.
I would love to assist you further from here.
Tricia Tan
www.triciatan.myweb.sg
 91442664  Read More
0
Whatsapp to 8279 8327 

Our charges are 1% commission for sales ..

Owners / landlords need property agent in sg ( agt ) to rent out or sale of your property
please contact handphone whatspp text to 8279 8327 

Xu zhen feng
R05-7810C / L300-9250K
Orangetee & Tie Pte Ltd
8279 - 8327

Or you have more questions such as ?
Sg buying / selling house ?
Singapore Rentals property ? Read More
0

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Previously Asked Questions