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Hi,

The 50% sale cash proceeds will be used to right size the 2nd hdb loan, hence it cannot be used to pay the resale levy. The resale levy can be paid from your balance sale cash proceeds (if any) after making all the necessary deductions from the sale price, and has to be in cash.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
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-- HDB Executive Maisonette Sellers, Mr & Mrs Yeo --

Before contacting Ivan Ng, our Property Realtor, we were quite apprehensive about our Contra-deal ( concurrent resale & purchase of HDB flats) as at that time the outlook of the resale property market was quite sluggish & pessimistic. But surprisingly our property realtor, Ivan , was able to put us at ease with his professional competence, astute work experience & friendly nature . He was able to consummate our contra-deal within one month of our HDB application. Now we are convinced by his promise that (in Ivan's own words) ... "A contra-deal is where the sale & purchase transactions are done concurrently and completed on the same day. This results in a seamless transition of the funds from your sale proceeds and CPF proceeds towards your purchase price." More importantly Ivan has also managed to clinch a good deal for our contra-deal. We'll certainly recommend him to our kins & friends. Thank you very much, Ivan. We are definitely your satisfied customers!

-- HDB Choa Chu Kang BTO 4-RM Sellers, 5-RM Purchasers, Zima & Faizal --

Ivan was prompt in replying to my endless queries & concerns. He was very attentive to details and he knows my exact 'taste' during the process of house hunting. I would say that my requirement in getting a flat is quite high because i was looking for a flat located near my parent's as well as the MRT station. It impressed me that he could read my mind well which makes the whole transaction alot easier. I also love the fact that he is calm, not pushy & always ensuring me that there are still sufficient time to look out for other available houses. We are so thankful beyond words for his understanding and patience thoroughout the whole process. We managed to sell our BTO with extension & secure a 5 room flat without COV, located near my parent's and a 3 to 5 mins walk to the MRT station. Read More

Hi, appreciate your sharing. For resale levy it will be reduced from your current sale proceed. You are able to apply BTO only if your current HDB has passed 5 years MOP. Once towards key collection of your BTO, you have 6 months to sell and allow the funds to roll over from sale to purchase.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex Read More

Hi Azreena,

No, essentially the 50% of sales proceeds is meant to be used to right side your HDB, thus it cannot be used to pay for resale levy. The financial considerations when utilising HDB loan is always to use your cash component first, before wiping out your CPF funds with remainder from home loan. It would be helpful to know more details about your existing house, the outstanding loan and estimated selling price before we can really look into the financial stream and see what are the options you can have moving forward. Do you plan to sell your current HDB now or are you only looking to sell it in 3 years time when your BTO is due to collect keys?

Regards,
Geryl Lim
 92787772  Read More

Hi Sir/Mdm,

For right sizing of loan, 50% of the sale proceeds will go towards financing the BTO flat and you will not be able to use it to pay for the resale levy. The resale levy will be deducted from the sale proceeds of the current flat. Congrats on getting a BTO as a 2nd timer.

Please contact me if you have other questions so that I can assist you further!

Regards,
Nick Tan
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Susana (Buyer) Read More

Hi,

1) If this is the 2nd HDB loan that you are utilizing. 50% of the cash proceeds from your sale will be used to reduce your loan, and this is non-negotiable.
2) The resale levy is another story. This has to be paid using cash only.
3) So your total cash received would be: cash proceed - 50% cash proceed - resale levy = final cash received.

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Hope the above answer 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.
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