Asked by Sha Vic
We have an EA unit in Pasir Ris ( Valuation 550K), divorce case so we need to sell and buy two smaller units, two children aged 12 and 15.
Contemplating selling at 600k, Outstanding is 234k, cpf going back is 123k(wife), 53k(hubby), so balance is 190k (75k each after splitting and stamp duties and agent fees and legal fees etc)
cannot take a HDB loan because its 2 home under HDB so have to take bank loan, bank loan approved in principal is 170k.
This means that with the loan and 53k(CPF) i will only have 223K and if i want a 3 room flat (Average 300k) i have to top up the difference in cash.
if i find a 320k flat, with the 223k and 75k balance i will still have not enough.
What advice can u good people offer?
1. Meet MP and ask for a repossessed flat from HDB at a lower price?
2. Ask if bank can increase their loan figure?
From experience, how is Option 1? or is there something else U can advice me.
Contemplating selling at 600k, Outstanding is 234k, cpf going back is 123k(wife), 53k(hubby), so balance is 190k (75k each after splitting and stamp duties and agent fees and legal fees etc)
cannot take a HDB loan because its 2 home under HDB so have to take bank loan, bank loan approved in principal is 170k.
This means that with the loan and 53k(CPF) i will only have 223K and if i want a 3 room flat (Average 300k) i have to top up the difference in cash.
if i find a 320k flat, with the 223k and 75k balance i will still have not enough.
What advice can u good people offer?
1. Meet MP and ask for a repossessed flat from HDB at a lower price?
2. Ask if bank can increase their loan figure?
From experience, how is Option 1? or is there something else U can advice me.
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