AskGuru Q&A Community

Evening Ms. Ng,

To buy a HDB unit before selling off will definitely involve financial commitment. Having enough to pay for your down payment, handle the legal and stamp fee and settling cash component required can set one aside. You will also be required to sell off your existing unit within 6 months from date of key collection on your new unit.

Do feel free to contact me for further discussion.

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

Hi Ms Sher, given the weak market sentiment, it is highly advisable that you sell off the existing HDB unit first and then follow by the purchase of a new one.

Regards
Aaron
 97308455 
aaronchong2774@yahoo.com.sg Read More

Hi Ms,

I will also recommend you to sell first then buy later because the market is soft now. The HDB also allow the seller to extend their stay after the HDB completion.Therefore you still got much time to look for your new house. Do feel free to contact me at 9237 6096  for further enquiries.

Regards
Alex
ERA
HP:9273 6096 Read More

Good evening Sher,

You can sign an undertaking letter to sell off your current property after purchase to obtain a 80% bank loan. But as you have yet to free out funds (cash and cpf oa funds) from current property, you need to come out with at least 23% (20% downpayment and buyer stamp duty) of the purchase price first.

And due to current market conditions, it will be best to sell off current unit first as it tends to take slightly longer to dispose nowadays.

If you need any assistance in your property needs, feel free to contact me.

YT Tan
ECG Property
 9111 5171 
Yt.lovelyhomes@gmail.com Read More

Hi Ms. Ng,

You can purchase the 2nd HDB first but you have to dispose your existing HDB within 6 months of key collection of 2nd, which if the timeline is not managed properly, you could be forced to sell at a price that you are not comfortable with, due to time constraints. Are you also considering a 2nd HDB loan for the 2nd HDB property?

I can understand your worries on this issue, would suggest you work directly with one of the agents here to help you facilitate the sale & purchase, which saves a lot of the hassle and help you avoid the pitfalls. May I understand your requirements better and value-add with the best solution? Thanks and hope to hear from you.

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com Read More

Hi Sher,

In current HDB resale market, chances are you will sell low and buy low, therefore the last thing you want out of this will be buy low and sell lower. If you are able to control the situation, would you rather buy first and be compelled to sell at a lower price due to time constraints?

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop

Regards,

Geryl LIM
Real Estate Director
Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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