Hi,
Yes if you have plans to upgrade to EC, it will be ideal to do it before you turn 55. At 55, part of the OA will be set aside to meet the retirement sum, which means you can't use all fully. And Yes, the accrued interest and CPF OA utilized for your 5-rm flat will go back to your OA accounts once you sold your hdb.
For bellewoods EC, assume approx 850k purchase price, typical breakdown as follows:
Cash 5%
Cpf 15%
Stamp duties and legal approx 3%
Max bank loan 80%
Bellewoods is targeting to attain TOP by 1st Quarter 2017, and has no resale levy (plus point, resale levy for 5-rm is 45k ). It be good to act fast. I'm involved with Bellewoods EC and be glad to share more on how the upgrade can be facilitated smoothly with a detailed financial plan, and the latest unit pricing and availability.
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 ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
Email: Ivanng10@gmail.com
Contact:
(+65) 97432395
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews
(Client's Testimonials)
--- HDB Flat Sellers Uncle "Seng" and Mdm. Png ---
Translation from Mandarin:
We are from the Pioneer Generation, already in our 70s, and have no experience selling HDB flat. As our new BTO is arriving, we considered selling our flat earlier.
We felt he was a patient agent who is willing to hear out our plans and concerns, and explain new HDB selling procedures clearly to us. He is also a hardworking agent who did Roadshows for weeks to create awareness for our unit, and we quickly found a buyer through this avenue.
We also appreciate that he made the extra effort to accompany us down to the Banks and Town Council to help us with the outstanding paperwork procedures, and ensure the sale go through smoothly. Throughout the process, we always felt assured and happy, as Ivan was always professional, accessible and saw things through till conclusion. Ivan will remain as a family friend and we will be glad to invite him over for coffee when our BTO is ready.
--- HDB Flat Sellers Mr. Hayum and Ms. Azizah ---
Ivan has justified our faith in appointing him as our Exclusive Agent. He transacted our unit at 620k, above valuation & highest price ever achieved for our block, within 2 months.
In a slow market, you need a proactive & committed agent who puts the extra effort. Besides advertising in papers & online intensively, he also had personally distributed flyers & spoke to potential buyers in neighboring blocks to increase exposure. Every week there were viewings & feedback.
He actually secured 2 attractive offers but assessed that the 2nd one will be a more smooth transaction. We're glad to have proceeded with his advice for a successful completion. Throughout he was professional and responsive. We wish him a great career and will be happy to recommend his services.
--- HDB Flat Buyers Mr. & Mrs. Lau ---
"As 1st-timer Buyers we had plenty of questions, and were uncertain on how best to proceed. A discussion with Ivan cleared our doubts and our plans could progress quickly. We are comfortable with his working style as he is not pushy, and tries to think from our point of view.
It took us about 8 months & at least 30 viewings to find something ideal, & Ivan was always happy to 'house-hunt' with us, always emphasizing "Don't worry, suit you then buy. Important is that you all buy happy & parents endorse the unit".
Eventually, we got our ideal unit, negotiated below valuation. The financial planning calculations were smooth, breakdown was detailed and schedule of payments illustrated clearly so we know what to expect at each phase.
Read More
