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Morning,

Based on your statement, if you had purchased your property prior 29 Aug 2010, you would have fulfilled the MOP requirement. And if you purchased after that, you will still need another year before fulfilling 5 years MOP.
You have also indicated that your purchase price of the current property was at $445k and outstanding loan is at $340k. And to sell it at $480k, you should be able to get some cash profit. However, you indicated that you have paid $62k CPF, 4 years ago. Throughout the 4 years, I'm sure you would have utilized more, inclusive of interest payable. Hence I'm unable to provide you with the exact figures till we met up.
As for your last question, the estimate cost for downgrading would be dependent on how much loan you can get and how much CPF OA is available for purchase.

Do feel free to contact me for detailed discussion.

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

Dear Sir/Mdm,

Thanks for your post in Propertyguru.

From the figures you have provided, it may not be enough to do a proper calculation for your sales proceeds. Most importantly is the interests accrued from the CPF used. if you may allow, maybe we can meet up for a non obligatory discussion and I can do the calculations for you on the spot. I can also take the opportunity to answer any other questions that you may have too.

May I also kindly request for you to visit my website, www.jeffreyheng.com to read some of the testimonials given to me by my clients. I believe I will be in a good position to offer some good advice to you as well. Really looking forward to hear from you soon! Thanks.

Best Regards,

Jeffrey Heng
Deputy Division Director
ERA Realty Network Pte Ltd
Property Navigators (The #1 Team in ERA for 2009 & 2011)

Mobile : +65 9858 1322 
Email : hengjeffrey@gmail.com
Web : www.jeffreyheng.com Read More

Dear downgrader,

The missing information we will require is the total amount of CPF utilised with accrued interest, which can be easily retrievable from the CPF portal as well as your existing home loan amount that is still outstanding. This figure can also be easily retrieved from HDB web portal as long as you have your Singpass.

With these figures, we will then be able to work out what your estimated sales proceeds is and subsequently look into your purchase requirements and finances. Let me know once you have all these information on hand perhaps.

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

Regards,

Geryl LIM
Real Estate Director
Masters Of Real Estate (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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