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Hi,

It depends on whether the CPF amount to be refunded from the sale is sufficient to cover the purchase price. Typically its better to maintain the same employment situation up and until the completion of the purchase to ensure a smooth completion.

Alternatively, if I could have the rough figures, I could do a proper detailed financial plan for both the sale and purchase so to ensure a smooth transition and you have a detailed picture of the whole transaction before making any next move.

I have worked on similar cases and will be happy to share the best approach. May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
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(Client's Testimonials)

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- HDB BTO 4rm Sellers Mr. Farvin & Ms. Sel --

Ivan was the first agent that we met up with and right from the offset we had good vibes as he has a friendly personal approach, detailed working style and focuses on building the long-term relationship.

Our unit comes with its challenges but Ivan remained positive and had no qualms committing to our plans right from the start. It took only 6 weeks of aggressive marketing for him to secure a good offer which was a pleasant surprise in the end.

Ivan was always responsive and we had no worries to pass him the house keys. The whole process was transparent and hassle free, and he was always thinking from our point of view on how to make life easier for the client. He is a committed professional and has fast execution, so we felt assured that things are done well and we can entrust the sale process entirely to him.

--- HDB Flat Upgraders Mr. & Mrs. Lee ---

We decided to engage Ivan as our agent as we were impressed with how he answered the enquiries on property guru website.

He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked.

When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.

Thanks Ivan! :)

-- HDB 5-rm Sellers Mr. & Mrs. Ting --

We have engaged the services of Ivan Ng for sale of our property at Pandan Gardens. He is professional and systematic in his marketing approach.

He is hardworking and committed to his work. He puts in great efforts in arranging clients for viewings and kept us updated thereafter. He is ever ready to help and guide us whenever the need arises.

He provided us with sound and useful advice as well as closely follow through from the start till the smooth sale of the property within a short period of time.

Thanks, Ivan. Keep up the good work! Read More

Hi Mdm,

Since your flat was purchased 15 years ago, it will be a positive sale with some sales proceed. However, if you intend to take a HDB loan for the next flat, then you will need to set aside 50% of the sales proceed towards the next flat under the current HDB rules and regulations.

For selling and buying concurrently, the more important part is the planning of timeline and your finances in terms of cash flow and CPF refunds so as to ensure that you are able to reuse the sales proceed and CPF refund from the sale to finance your next purchase and minimize the cash outlay.

I have assisted many clients in the same situation as yourself to transit smoothly and seamlessly from their previous HDB to their new HDB flat. Please feel free to contact me so that I can understand your situation better and come up with a plan for your move!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg
I was featured recently on Council for Estate Agencies (CEA) Newsletter:
https://www.cea.gov.sg/docs/default-source/module/newsletter/3-2017/bouquets-for-property-agents.html

Testimonial from Satisfied Clients
“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”

Peter & Wendy (Property Seller)

I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.

Weilun & Benita (Property Seller)

“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 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) Read More

Hi,

It seems your main concern is whether HLE is still valid if you stop working at the time of purchase.

1) There are no submission of document to prove your employment in the whole process. However, do note that under "Letter of Offer", there is a clause 2(d) stating:
there being no further changes to all information on the income and employment which you have provided in your application for the HLE Letter.

2) The above statement mentioned is to ensure you are able to repay the monthly mortgage with your declared employment status and income.
Do note that this is a legal offence by providing false statement to the government body.

Thus it is advise to maintain existing working/employment status during this period of purchasing to avoid any complications.

3) If you do have changes in your employment/working status, it is wise to email to the HDB office in charge (you shall know by then) to request for advice on whether there is a need to reapply HLE.
This is deal with case-by-case basis.

4) Since this is your 1st HDB loan, right sizing policy is not applicable.

Last the most important is to time your selling and purchasing very carefully, as application to withdraw CPF will be rejected if your sales proceed did not come in on time.
Your whole purchase process will be jeopardize if this happen.

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

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Good morning Mdm,

Do take note that HLE will be reviewed if there's any changes to the income prior to the purchase completion. Thus usually I will advise my clients to change job or quit after purchase completion unless you are changing job for a better pay.

https://www.hdb.gov.sg/cs/infoweb/residential/financing-a-flat-purchase/housing-loan-from-hdb/eligibility-conditions

Since you have intention to utilise funds from your sale for the purchase, perhaps we need to work out your financials before proceeding further.

We gonna work on the timeline as well so you wont have to find temporary accommodation during the transition.

May I know when will be a good time to meet up?

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
R043025D
Propnex Realty Pte Ltd

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Dear Sir/Mdm,

Your main concern for your case is whether will your HDB loan be affected as you may want to stop work for a while. To answer your question, yes it will be affected. Not only stopping work will be affected, even changing jobs will also be affected as they will need the new pay slips for the new employment and they need at least 3 months. So my advice for you will be to hold on to your job if it is of no urgency to resign from your job. I know it might not sound pleasing to your ears but may just have to grit your teeth and endure a little. Look at it as a higher purpose. Haha.

And since if we are doing a sale and purchase concurrently, we will need to make sure that the timeline and finances will need to be properly sorted out first. I ever met a seller who stays in Seng Kang Central which he purchase his house 14 years ago for $270K. He needed to sell his flat as he applied for a BTO from HDB. When we spoke, his house was worth $470K. On papers his property have net him a happy profit of $200K, but when I did his financial calculations, he only got back $24K in cash. He was devastated and he asked me how can he renovate his new home and buy new furnitures. At that moment I really had no answers for his question. His finances was not planned properly when he made his 1st purchase and that led to his predicament. When I left his house, his last sentence to me before he bade goodbye was, "At 50 years old, I finally learn something."

This client gave me permission to take pictures of some of his statements so that I can show to my future clients for the purpose of guiding them in the right way to planning and financing so that they will not walk down the same path as him. Till today I really appreciate him for his gesture.

What I would recommend is that maybe we can meet up for a discussion. I can take this opportunity to answer some of the doubts that you may have and also help you with your financial calculations to make sure that your move is well covered. No worries as there are no obligations at all. We can just take it as a chat. After we do the financial calculations for you, we will send a copy to you as well.

As for how I work, I actually work together with my partner, Elaine who is also my wife. Over time we have served many clients and many have became our good friends and they have also kept referring clients to us. Many of them were also very kind to leave testimonials for us for our service rendered. You may read some of our testimonials in the links provided below. One of them even did a video testimonial for us. We were also being featured in Council of Estate Agents newsletter for Good Client Service. We believe our way of working will enable us to give you solutions to your problems and give good advice to you.

Looking forward to hear from you soon! Cheers!

Best Regards,

Jeffrey Heng
Senior Associate District Director (Sincerus Division)
NAVIS Living Group - A group in OrangeTee that believes in Technology, Training & Teamwork (3Ts)

Founder of Sincerus Division
SAEA Real Estate Excellence Silver Award - Best Client Service (2014)
SAEA Real Estate Excellence Award Nominee - Best Client Service (2012/2013)

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Mobile : +65 9858 1322 
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