Can Buy Another Hdb Before Selling Current One?

[weezersg 5]

Can I buy another hdb before I actually sell my current HDB or how long do I have before I sell it?

Or do I have to sell even before buying?

Both HDB will be bought or sold in the resale market.

[applefreak 1]

yes you can buy before you sell

but that's provided you have enough to pay the downpayment for the second flat

at the same time, you will need to sign a letter of undertaking that you will sell your current flat within six months of taking possession of the new flat.

if you dun have enough to pay the downpayment (currently at 10% of price), you can try to use contra to pay for your new flat. however, this is provided your seller or buyer is not using contra...

[butterfly22 0]

Yes, applefreak is right! However, I do not really advise u to buy first unless u holding a unit which is easy to sell.E.g 3 or 4 rm or in very excellent locations. Some agents might ask u to buy first then pressure u to sell yrs at a lower price later. After u buy, u will hv abt 6 mths to dispose yr current flat. Any extension needed in case u cant sell yr flat, HDB needs to see yr agent's advertising proof...

[weezersg 5]

Yes, applefreak is right! However, I do not really advise u to buy first unless u holding a unit which is easy to sell.E.g 3 or 4 rm or in very excellent locations. Some agents might ask u to buy first then pressure u to sell yrs at a lower price later. After u buy, u will hv abt 6 mths to dispose yr current flat. Any extension needed in case u cant sell yr flat, HDB needs to see yr agent's advertising proof...

Thanks for the advise. I am looking to buy first because my target unit is very specifc at only a few blks above certain floor level at a particular location, hence i think it will not be easy to find a seller.

My unit should be easy to sell.....it is a 2+1 unit just 5 mins walk from Tiong Bahru mrt.

Will HDB grant me a new loan to buy the new HDB first if I havent sold off my current flat?

[applefreak 1]

hmm, this is rather difficult to answer

think it's best if you check with hdb about it

but from what i read, as long as you are eligible why not?

just that how are you going to service both loans?

that means 2 x whatever you are paying now

[weezersg 5]

hmm, this is rather difficult to answer

think it's best if you check with hdb about it

but from what i read, as long as you are eligible why not?

just that how are you going to service both loans?

that means 2 x whatever you are paying now

Yup probably have to ask HDB.

Anyway is that why people always arranged to sell and buy back to back?

Anyone here who has sell and buy HDB back to back can comment regarding the loan part?

[raincole 0]

Thanks for the advise. I am looking to buy first because my target unit is very specifc at only a few blks above certain floor level at a particular location, hence i think it will not be easy to find a seller.

My unit should be easy to sell.....it is a 2+1 unit just 5 mins walk from Tiong Bahru mrt.

Will HDB grant me a new loan to buy the new HDB first if I havent sold off my current flat?

Yes if you haven't taken 2 HDB loan before and is upgrading (2+1 to 3/4/5,etc). Just make sure you have enough $$ to pay for 2 flat during the transition.

And when selling, do you need to pay for the upgrading fee? Any resale-levy?

Do your sum first.