AskGuru Q&A Community

Dear sir/mdm,

If you are eligible to utilise the Enhance Contra Facility (ECF), you need not wait to utilise the sales proceeds for your purchase, however, do take note that such arrangements means that completion of both sale and purchase needs to take place concurrently. You can read more about the eligibility criteria at https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/procedures/resale-application/enhanced-contra-facility.

Otherwise, sellers will receive a cashier's order on the day of completion where they can bank in to their respective bank account and funds should be ready for withdrawal in about 48 hours. Should CPF funds utilised for existing flat are needed for the purchase, then the completion of sale should be scheduled at least 2 weeks before the completion of purchase, to allow for the CPF funds to be returned to the account before withdrawal. A safe window period is about 3 weeks.

Hope the above helps.

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
-----
Note: We value your home as much as you do! Find out the indicative value of your home at http://bit.ly/UrHomeMatters and get monthly update on your home value. Restructure your portfolio with us, speak to us!

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

Visit and Like my facebook page at https://www.facebook.com/GerylLimSince2009/ - Aspiring To Be The Best Real Estate Agent In Singapore

Pick up knowledge, skills and Real Estate concepts at https://www.facebook.com/RealEstateXcellence/

New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/

My self introductory video on https://www.youtube.com/watch?v=uZ6REQfdGSw
-----
Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ http://l.ead.me/7772 Read More

Hi,

You will receive the HDB sale cash proceeds (if any) at completion appointment in the form of a cashier order. For CPF to be refunded, it will take about 2 weeks to return after the sale has successfully done the completion appointment. The type of financing is not relevant.

Yes you can use the proceeds to purchase the next flat once the funds are in your bank account. If you are on HDB loan now and planning to take hdb loan again, you can consider doing the enhanced contra facility to make the transition a seamless transfer process.

I have worked wih several hdb upgraders on their housing plans and Waagould be happy to share more.

-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --

I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan.

-- HDB Jurong West 5-RM Sellers, Exec Apartment Purchasers, Lenz & Michelle --

We would like to thank you for ensuring a smooth and well-explained process throughout the whole selling and buying of our property. We got to know you thru Property Guru, where we are scouting for condo around West area. We remember that we are quite tight in our budget in purchasing the condo unit,but you are still very willingly explaining and calculating our financial liabilities. You are always having your smiles whenever we met for discussion.

We appreciated your process of selling and buying of our property are very systematically and well executed, from financial calculation to the purchase procedure of our new house. We are always being updated thru our group chat during the engagement of your service.

We would never expect such a smooth sailing experience of selling and buying of property. Your professionalism in work will definitely be remembered and rewarded. All the best in your property venture! Read More

Dear Sir/Mdm,

You may plan the sale and purchase concurrently but if you wish to reuse the CPF funds from your current property for the next property, you will need to plan the sale and purchase to be about 3 weeks apart with the sale first.

You will receive your sales proceeds in the form of cashiers order on completion day, but your CPF refund will take 5 to 7 working days to be back in your OA account.

You may want to map out the timeline first before proceeding with the sale. I have assisted many of my clients who are in a similar situation to transit smoothly from one unit to another. Please feel free to contact me so that I can understand your situation better and draw up the timeline.

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

Visit my website to get to know me better:
www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

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

You will received the cash proceed in the form of a 'crossed' cashier order on the completion day. The proceeds will be made available to your bank account estimated 2 working days later assuming you bank in the cashier order immediately on the completion day. The buyer fianncing method does not make any difference. If you are referring to timeline planning to enable you to use your sales proceed in time for your next purchase, I have experienced handling cases where I timed my client sales and purchase transaction smoothly to enable my client to use their cash proceeds for their next purchase. Another method to do it is by applying for the Enchanced Contra Facility scheme. In this scheme, sellers did not have to wait for CPF refunds or cash proceeds to be in before being able to fund for their next HDB purchase. However this option is not available if you are using a bank loan to fund your next purchase. I do provide a free and non obligatory consultations in regards to property transactions in Singapore. Do contact me at 93375051  for a discussion on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More

Hi, there is only one HDB appointment and yes the sales proceeds will be taken on the completion day itself.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi,

You will get your CASH sale proceeds (in form of cashiers order) on the day of completion. You will need to bank in the cashier order and allow 2-3 days for the funds to be in your bank account.

As for CPF refund, the monies will be in roughly 2 weeks from completion date. If you have the intentions to use the CPF funds for your next purchase, you will have to set at least a 3 week buffer in between your sale completion and your purchase completion.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More