AskGuru Q&A Community

Hi,

Unfortunately no, you have to sell away your private property within 6 months of key collection to your resale hdb. Downpayment depends on the loan amount you are taking, and loan attainable depends on age income and credit profile. Yes you can use cpf OA to make part of the downpayment.

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 Upgraders Mr. & Mrs. Lee ---

We decided to engage Ivan as our agent as we were impressed with how he answered the enquiries on property guru website.

He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked.

When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.

Thanks Ivan! :)

--- 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 Read More

Hi,

Let me help you with your enquiries:

1. You are supposed to dispose off all interest in private residential properties within 6 months upon completion of your HDB purchase. Meaning, theoretically you can still keep your private property up to a max of 6 months, but during this 6 months, you will have to be actively marketing it for sale.

2. Downpayment needed will be dependent on how much loan you are eligible for. The minimum downpayment needed would be 10% if you're eligible for a HDB loan. CPF monies can be part of the downpayment, though there is still a cash downpayment to be involved.

3. How much you can loan from HDB is dependent on a number of criteria, namely your age, your combined income, subjected to MSR and TDSR.

Should you need any 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