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Dear sir/madam,

I am curious why are you looking at such a move given that size of apartment is likely pretty similar. To qualify for enhance contra facility, your current HDB flat and the upcoming flat to be purchased should be financed through HDB, and that the buyer of your current flat and seller of the flat you are looking to purchase should not be utilising the enhance contra facility too.

It will be necessary to look into the final finances before we are able to advise if such a move is possible. Where any HDB loan is required, it is important to submit for Home Loan Eligibility (HLE) with HDB to understand better the situation.

For financing your next purchase through bank loan, you will need to time the completion of your purchase to be 3 weeks after the completion of your sale, in order to allow for funds required to complete the purchase to be refunded into your CPF account from the sale before being withdrawn for the purchase.

Hope the above sharing is helpful, and if you require further explanation, we can schedule a consultation session online so I can explain to you in more detailed without obligations.

Stay safe!

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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Hi,

Its possible if the purchase price of the next flat is lower than the achieved sale price of the current flat, and this may potentially require some bank loan.

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 Realtor
ERA Senior Marketing Director
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Hi,

Yes, it is possible, provided you fully pay off the purchase, or qualify for a second time of HLE. If there is bank loan involved, you will need to plan for the timeline in order to have a smooth transition to your new place.

I am experienced and well-versed in both private and HDB resale transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi
From your question, I am assuming you wanted to perform a smooth transition so that you can make use of the funds from selling your current flat to purchase a new one and at the same time do not need to move to an interim place while awaiting for the purchasing process to complete. Yes it is possible provided you finance your next flat using HDB loan or fully paid. However should you take up a bank loan, you are not eligible for contra . However it is still possible for you to move directly to your new flat without having to find an interim place to stay by planning the timeline of the transaction carefully. Do contact me at 93375051  for a free and non obligatory discussions on this.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More

Dear Sir/Mdm,

If you wish to move from a 4room to another 4 room in Punggol with minimum cash outlay then the house the value of your next house should be lower than the value of your current flat.

It is best to do up a detailed financial calculation taking into consideration your eligible loan amount and the amount of funds in your OA account.

I have clients who were in a similar situation as you and have done it before with careful planning. Please feel free to contact me so that I can understand your situation better and assist you further. I am available for online consultation during this circuit breaker period too!

Regards,
Nick Tan
(M) +65 9644 4854 
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Susana (Buyer) Read More

Good morning Sir/ Mdm,

care to share what do you wish to achieve behind this move?

This could be achieved if these factors can be fulfilled:

1) you are able to obtain decent sales proceeds with existing home
2) you are able to obtain loan with single self employed income

Maybe we go through the numbers to see the feasibility first?

When will be a good time to chat? over call or zoom?

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Greetings from Ohmyhome!

You would need a detailed financial calculation to determine whether contra is possible for current sale and next purchase.

Should you need further information or assistance, feel free to contact us at 68869009  or WhatsApp us at 97551009  .

We will be most glad to assist.

Richmond Chia
Senior Advisor
Ohmyhome Pte Ltd Read More