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Hi upgrader,

It's a quite a chunk to explain - basically, you won't have to come up with surplus cash if your HDB sale is a positive one; for buying a condominium, the main extra spending would be the BSD and legal fees.

Feel free to contact me at your convenience, and and we can carry on from there.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More

Hi,

Firstly have you met your MOP of 5 years? If so, yes you will be eligible to do the upgrade.

For sale of hdb, typical transaction costs are hdb admin fees+legal fees and agent commission. Will be glad to illustrate the financial plan fully so you have a better idea before you proceed with anything.

For condo purchase, typical breakdown for SC as follows:
Cash 5%
Cpf 15%
Max bank loan 80%
Stamp duties and legal fees approx 3%

Typically condo buyers need not pay commission as buyer agent will cobroke with the seller agent. Your timelines and financial plan will need to be planned carefully so to ensure you have a smooth transition and need not move twice. May I understand your requirements further so to make better recommendations and value-add to your plans further?

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/#!reviews/c11r1
(Client's Testimonials) Read More

Afternoon,

Assuming that you are SC, managed to obtain 80% loan and have secured a buyer before exercising the OTP for the purchase, you will require $40k cash for 5% down payment and balance of $120k of the down payment can be paid using CPF. Other cost on legal and stamp will sum up to around $24k which can also be paid with CPF funds.

Do contact me further should you require my assistance.

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

Hi

Call 9620 0827  for a casual chat or email gavin.ng@orangtee.com

We can explain to you the transaction process and give you an estimated expenses on your sales and purchase.

Regards

Gavin Read More

Hi Sir/Mdm,

For selling of a HDB, the cost is as such:

1. HDB Admin Fee - $80
2. Legal Fees (using HDB Lawyer) - $500 approx.
3. Agent Commission - 2% of Selling Price.

For a 800k condo, these are the outlay:

1. 5% Cash - $40,000
2. 15% CPF - $120,000
3. Legal Fees - $2,500 to $3,000
4. 80% Bank Loan - $640,000 (monthly instalment of $2528 @ 2.5% interest over 30 years)

Please feel free to contact me so that I can draft up a comprehensive financial plan which will allow you to plan better. I can assist and guide you through your upgrading plan as well!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

Testimonial from Satisfied Clients (2015/2016)
“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick from Property Avenue has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer of HDB)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer of HDB) Read More