Yes it sounds feasible, and may potentially be a better choice as hdb & private property prices are going in diverging trends, with hdb prices continuing to moderate downwards. It potentially may be a better store of value to put your funds in a property with better capital appreciation potential.
It depends on the transacted price of the hdb property. Generally speaking, part of the sale price will go toward refunding the CPF utilized + accrued interest of all the owners (in this case your mum only), and part of the sale price will go toward paying the conveyancing and agent fees. The balance will be cash proceeds that you can use for the downpayment of the next property.
The only thing that might be a hurdle is the home loan attainable for your case. Banks may not be able to recognize overseas income fully and provide the max 75% loan.
Perhaps I could have more info so to make better recommendations? 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.
Ivan Ng Realtor
ERA Senior Marketing Director
ERA Top 600 Achievers in Year 2017 (Top 10%)
ERA Top 300 Achievers in 3rd Quarter 2017 (Top 5%)
SMU BBM (Finance), Magna Cum Laude
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-- HDB BTO 4rm Sellers Mr. Farvin & Ms. Sel --
Ivan was the first agent that we met up with and right from the offset we had good vibes as he has a friendly personal approach, detailed working style and focuses on building the long-term relationship. He is a committed professional and has fast execution, so we felt assured that things are done well and we can entrust the sale process entirely to him.
We're looking to find an investment property next and will be glad to work with Ivan again for the long-term to restructure our property portfolio. He has become a friend now, and we are most happy to recommend his professional services to our loved ones and friends.
--- HDB Flat Upgraders Mr. & Mrs. Lee ---
We decided to engage Ivan as our agent as we were impressed with how he answered all our enquiries. 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. Thanks Ivan! :)
-- Sellers of Exec Maisonette Gaffoor & Isha --
Buying or selling property is a big decision, as we wanted to make sure our agent is someone we can trust, get in touch with, and approachable. Ivan certainly fits the bill. He was available anytime of the day to answer our queries and was with us throughout the process. We have no reservations in recommending him.
-- HDB BTO 4rm Sellers at Sengkang, Jonathan & Abigail --
By faith, we signed the contract with Ivan and in less than two weeks time, we opened our house for the first and the only viewing, days later the OTP was signed! Thank you for all your excellent diligent services and all the professional advise!
-- HDB upgraders to New EC owners Mr. & Mrs. Goh --
My unit was marketed by another agent back in Q3 2017 and after more than 3 months, there wasn’t any offer. I almost lost hope and thankfully I made the right decision to switch to Ivan. Through his hard work, perseverance & commitment, my unit was sold by Q1 this year. Would definitely recommend Ivan’s services to any potential sellers out there.