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I am selling my Punggol 4-room for a resale 4-room at Bukit Batok. I have an existing HDB loan and plan to take up similar loan for the resale flat. Ideally, I would like to enquire on the possibility of contra and the fees/charges involved.
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6 Answers

Hi,

Hdb Contra requires hdb loan to hdb loan case, hence its possible if you have only taken hdb loan once. It will provide a seamless transition for the finances. Its best to draw up a financial plan and plan the timelines and finances carefully, will be glad to meet up with you and do so. Fees include conveyancing fees, agent commission, hdb admin fees and stamp duties for purchase, which I be glad to breakdown in detail for you as I am quite active in HDB sales & purchase. 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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--- HDB Flat Sellers
Mr. Hayum and Ms. Azizah ---

Ivan has justified our faith in appointing him as our Exclusive Agent.

He transacted our unit at 620k, above valuation & highest price ever achieved for our block, within 2 months.

In a slow market, you need a proactive & committed agent who puts the extra effort. Besides advertising in papers & online intensively, he also had personally distributed flyers & spoke to potential buyers in neighboring blocks to increase exposure. Every week there were viewings & feedback.

He actually secured 2 attractive offers but assessed that the 2nd one will be a more smooth transaction. We're glad to have proceeded with his advice for a successful completion. Throughout he was professional and responsive. We wish him a great career and will be happy to recommend his services.

--- HDB Flat Sellers Uncle "Seng" and Mdm. Png ---

Translation from Mandarin:

We are from the Pioneer Generation, already in our 70s, and have no experience selling HDB flat. As our new BTO is arriving, we considered selling our flat earlier.

We felt he was a patient agent who is willing to hear out our plans and concerns, and explain new HDB selling procedures clearly to us. He is also a hardworking agent who did Roadshows for weeks to create awareness for our unit, and we quickly found a buyer through this avenue.

We also appreciate that he made the extra effort to accompany us down to the Banks and Town Council to help us with the outstanding paperwork procedures, and ensure the sale go through smoothly. Throughout the process, we always felt assured and happy, as Ivan was always professional, accessible and saw things through till conclusion. Ivan will remain as a family friend and we will be glad to invite him over for coffee when our BTO is ready.
--- HDB Flat Buyers ---
Mr. & Mrs. Lau

"As 1st-timer Buyers we had plenty of questions, and were uncertain on how best to proceed. A discussion with Ivan cleared our doubts and our plans could progress quickly. We are comfortable with his working style as he is not pushy, and tries to think from our point of view.

It took us about 8 months & at least 30 viewings to find something ideal, & Ivan was always happy to 'house-hunt' with us, always emphasizing "Don't worry, suit you then buy. Important is that you all buy happy & parents endorse the unit".

Eventually, we got our ideal unit, negotiated below valuation. The financial planning calculations were smooth, breakdown was detailed and schedule of payments illustrated clearly so we know what to expect at each phase.

Every phase of hdb process & timeline was explained in detail & hassle free. If you're looking for an agent who is professional & patient, can give Ivan a call. He values the long-term relationship and looks out for your interests. Thanks Ivan and see you at our housewarming!" Read More
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GAN ENG JOO ONASSIS
Dear HDB upgrader,

Re: Today’s SG Professional Choice- SGAgent.com & SGRealtor.com

The contra rule apply, is the existing sold flat and the next hdb flat must be all be under HDB loan- for HDB to do the contra through HDB loan system

I am contactable at 92222389  or onassis@sgagent.com / sgrealtor.com
In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

Onassis Gan | R021244C | Today’s SG Professional l SGAgent.com & SGRealtor.com

EXPERIENCED. PROACTIVE. SINCERITY. FEEDBACK
ACTA (Full); PDCE (Singapore); MSc BIT(Middlesex); BBA (South Australia)

Featured Realtor Services recognition by SGReview.com and SGBride.com

Singapore Line : (+65) 92222389 
Malaysia Line: (+60) 111-0788889
Email: onassis@sgagent.com / sgrealtor.com
Skype: incomecare

" Engage 1 & Get More than 800 Agents from the #1 TEAM in ERA to Serve You!” Read More
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Dear sir/madam,

Enhance Contra Facility involves the sale of your existing HDB which is on HDB loan and the purchase of your HDB which will also be on HDB loan. You will be expected to set aside 50% of the cash proceeds from the sale of HDB to be used for the purchase of the next HDB. Professional fees involve in the sale and purchase of HDB will include legal fees, valuation fees for the purchase unit as well as resale application fees. Salesperson service fees will be applicable if you decide to engage their services in the sales and purchase of units, where it is at 2% of selling price plus GST for the sale assignment and 1% of purchase price plus GST for the purchase assignment.

Not to forget, you will be required to pay 3% stamp duty for the purchase too.

Is there anything I have missed out that you would like to know?

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

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Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B)
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Mobile: +65-81577565  /+65-92787772
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YT Tan (陈永达)
Good morning Sir/ Mdm,

you are eligible to utilise contra facility as long as you are taking HDB loan for your purchase but do take note that by doing so, you have to set aside 50% of your sales proceeds and all your CPF OA funds to reduce the mortgage in this purchase.

Care to hear more about bank loan so we can do a comparison?

Now let me elaborate more on your costs;

1) Sale
- $80 resale application fee
- 2% of sale price plus 7% GST as agent's service fee
- legal fees

2) Purchase
- $200 valuation fee
- $80 resale application fee
- 1% of purchase price plus 7% GST as agent's service fee
- estimated 3% buyer's stamp duty
- legal fees
- pro-rated property tax

Hope my explanation helps!

By the way, I am quite active in Punggol. Currently marketing an unit at Treelodge as well. Hope I can be of great assistance to your property plans.

Hear from you soon!

- Your Leasehold Ally, Freehold Tactician -

1) Like my FB page: www.facebook.com/yt.tan91115171

2) Just to share!

Only a one time sign up, you will be able to receive a free SMS update on the value of your home and neighborhood from me on a monthly basis.

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Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
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Powerful Negotiators
No1 team in Propnex Read More
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Hi Sir/Mdm,

For HDB to accept the contra arrangements, you will need to take up a HDB loan for your Bukit Batok HDB. By doing that, you will need to channel 50% of your sales proceed towards paying for this flat before HDB is willing to grant you the loan.

In this scenario, you will not be able to unlock 100% of your sales proceed and leverage on a new loan. This is why some buyers choose to obtain a bank loan for their HDB instead.

Contrary to popular beliefs, contra is NOT stressful and pretty straight forward if the timeline is planned properly by the salesperson. I have done many contra cases and have also just assisted my client who purchased a Bukit Batok flat to do contra.

Please feel free to contact me so that I can draw out the timeline for you and assist you in contra!

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

Testimonial from Satisfied Clients (2015/2016)
“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)

“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”

Mr and Mrs Chan (Sold and Bought a property through Nick) Read More
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Joanne Chia 谢诗琳
good day sir / madam

Kindly contact me or a no-obligations chat for your property needs .

My charges are 1% commission for exclusive selling rights to your hdb ( sole agent ) , or 2% for open listing ( many agents ) .

Thank you .

Joanne chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More
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