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I bought a 4rm resale under single scheme with cpf grant. Years later, got married and have a child. At 44, I got my 1st BTO 5rm success ballot. Noted that no matter what, need to pay the 10% downpayment during signing of lease and remaining 10% upon key collection. My qns is for the remaining 10% upon key collection, can i do the contra facility to pay for it using my cpf? Or do i need to sell my current flat first and use the return cpf monies to pay for the remaining 10%?
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5 Answers

Hi, appreciate your sharing. Able to write in or call in to check which stage are you at ? So that you can do planning
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More
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You can sell your flat first and use the cash proceeds and funds returned to finance your purchase. Work on obtaining extension for your sale in this case such that you will still have sufficient time to do renovations. Read More
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Hi Jonathan,

Congrats on getting your BTO flat! I will usually advise my clients who are in the same situation as yourself to use the sale proceeds from the sale of your 4 room flat to finance the purchase of the 5 room flat.

I will time the sale and key collection together so that you are able to minimise your cash outlay and at the same time be able to transit smoothly and seamlessly from your current place to your new flat with some buffer time for renovation.

Please feel free to contact me so that I can give you an overview of the whole process and explain to you in greater details!

Regards,
Nick Tan
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B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
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Consider Selling Current Flat: Depending on your financial situation and preferences, you may decide to sell your current flat before or after collecting the keys to your new BTO flat. Selling your existing flat could provide funds to cover the remaining 10% downpayment, but it's essential to consider factors such as timing, market conditions, and any outstanding loans or liabilities associated with your current flat.
Ultimately, it's recommended to seek advice from relevant authorities such as HDB Read More
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