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Can I apply for HDB contra facility to sell my current 4-room HDB while I apply for a BTO unit? Current HDB is under bank loan.

If I can't apply for HDB contra facility, what other option do I have?

Thanks.
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5 Answers

You are unable to apply for Enhance Contra Facility since your current HDB is under bank loan. Your options will be to allow the sale of your current flat to complete earlier than your purchase of BTO completion, such that all necessary proceeds and CPF funds will be ready in time for you to complete your purchase. Have you received notice to collect your key?

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1
Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, since your current flat is under bank loan, you cannot do a contra in this case.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Robbie Chen Chee Howe
Hi,

Do you mean you had already gotten your BTO and waiting for the keys, or you have yet to apply?

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More
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Hi,

As it is under bank loan, you cannot apply for contra facility. In this case we have to time your sale completion to be 3 weeks before you collect the BTO keys so as to allow the sale proceeds and CPF refund to return before you can use them to complete the purchase and cover the purchase price of the BTO. We also can try to obtain extension from the buyer of your flat so that you can have time to reno and smoothly transit to your next property.

Firstly, to get the BTO you need to have the HFE letter to be eligible to take part in the application. Hope the above clarifies. 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
ERA Senior Marketing Director
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We were fortunate to have met Ivan Ng. He was thorough in going through what the complicated home-selling process required of us and more so in understanding what we would like to achieve from the sale of our unit. His responsiveness and assurance, was a trait that we really appreciate. We managed to secure a sale that exceeded our expectation with Ivan’s advises. The offered price for our unit was a record set for the flats in the neighborhood. This was definitely supported by the fact that Ivan’s listing of our unit was detailed and stood out from other listings. Because of this, we also engaged Ivan's service to help us search and buy our new resale home. After some searches and viewings, we managed to secure one at a reasonable price with his help. With Ivan’s cheery and positive demeanour, selling our unit to procuring a new one, was a smooth journey for us. It was a pleasure to have worked with him. Read More
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Hi, appreciate your sharing. Only plan is to sell 1st and rent or await for BTO ready then start marketing.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex Read More
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