Hi,
Current condition:
1) HDB flat fully paid
2) Plan to purchase BTO
3) Plan to use contra as a mean of purchase
How does contra works:
1) Contra payment is only eligible for resale flat purchase.
2) Payment of cash deposit when applying for BTO; $2k for 4-rm & below, $2.5k for 5-rm and bigger still apply. This can be reimburse when signing agreement of lease provided there are sufficient fund in CPF.
3) Contra payment: 50% of cash from sales proceed if there are any has to directly use for the BTO purchase. example: receive cash of $49,999, $24,999 has to go direct to BTO purchase. You may keep $25k.
If cash received is $95k, $25k+ $22.5k = 47.5k (50%) has to use for the BTO purchase.
Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://www.facebook.com/Homesellerbuyer/
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