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My parents [in their 80s] would like to sell their hbd 2-room flat, then top up cash to buy a 3-room hdb flat near me.

Is this possible ?
Are there any restrictions to elderly cashing out from selling , then buy a bigger resale HDB flat ?
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3 Answers

YT Tan (陈永达)
Good afternoon Mr/ Ms Tan,

We need to work out the numbers to see the feasibility before kickstart the whole process.

Have they fulfil the 5 years minimum occupation period yet?

Did they use any CPF OA funds to finance existing HDB?

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
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Hi Mr Tan,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, yes sure it is possible for your parents to upgrade but first we must check out the sum by going thru some financial calculation.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Good morning,

We need to work out the financials to ascertain the feasibility in doing so. If they have used CPF for their 2-room, they may need to refund some of the CPF through their sales proceeds.

I have helped various seniors to transit smoothly for their HDB sale and purchase. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
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-- HDB Executive Maisonette Sellers, Mr & Mrs Yeo --

Before contacting Ivan Ng, our Property Realtor, we were quite apprehensive about our Contra-deal ( concurrent resale & purchase of HDB flats) as at that time the outlook of the resale property market was quite sluggish & pessimistic. But surprisingly our property realtor, Ivan , was able to put us at ease with his professional competence, astute work experience & friendly nature . He was able to consummate our contra-deal within one month of our HDB application. Now we are convinced by his promise that (in Ivan's own words) ... "A contra-deal is where the sale & purchase transactions are done concurrently and completed on the same day. This results in a seamless transition of the funds from your sale proceeds and CPF proceeds towards your purchase price." More importantly Ivan has also managed to clinch a good deal for our contra-deal. We'll certainly recommend him to our kins & friends. Thank you very much, Ivan. We are definitely your satisfied customers!

--- HDB Flat Sellers Uncle "Seng" and Mdm. Png ---

Translation from Mandarin:

We are from the Pioneer Generation, already in our 70s, and have no experience selling HDB flat. As our new BTO is arriving, we considered selling our flat earlier.

We felt he was a patient agent who is willing to hear out our plans and concerns, and explain new HDB selling procedures clearly to us. He is also a hardworking agent who did Roadshows for weeks to create awareness for our unit, and we quickly found a buyer through this avenue.

We also appreciate that he made the extra effort to accompany us down to the Banks and Town Council to help us with the outstanding paperwork procedures, and ensure the sale go through smoothly. Throughout the process, we always felt assured and happy, as Ivan was always professional, accessible and saw things through till conclusion. Ivan will remain as a family friend and we will be glad to invite him over for coffee when our BTO is ready. Read More
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