HDB Matters

[tricialau81]

Hi mummies, I'm sorry if I had posted something irrelevant. But I hv been going thru sleepless nights thinking whether to sell my flat now. Some one offered a high price for my unit and I had already found a unit which I liked but unfortunately I cannot do contra as 1 of e parties will b doing contra. So my agent told me tat I hv to sell my unit first wait for abt 3 months for e funds to come in then proceed to buy tat flat. But I'm feeling kinda insecure with this option as I'm afraid if e seller suddenly backs out or any mishaps happen I will be homeless cos I had already sold my flat. E seller is already in her eighties. And I really liked e unit alot. Has anyone gone thru this? Care to share some info w me? Thank you!

 

[pixie ng]

if you have no backup plan, it is better to sell your house first then buy another...

 

[tricialau81]

Hi pixie if I sell first, can e seller of the flat which I wanted to purchase suddenly backs out?

 

[tricialau81]

I'm afraid if I sell first and e seller suddenly backs out or any mishaps happen I will be homeless! Cos e owner of e other flat is already 82! Lol touchwood

 

[pixie ng]

if u sell your house first, u have 6 months before new owner move in... i think 6 months have ample time to find a house... of course you can always negotiate with the new buyer regarding their move in

u can buy the house first by paying deposit, you will have 6 months to sell your house. if last min you back out coz no one want to buy your house, u can write to HDB to extend your grace for selling the house. but do take note you have to pay loans on both side - current house & previous house which you cannot sell. worst case, u decide not to buy the house, your deposit will be forfeit.

depending how desperate you are, i guess...

for me, i wait for my partner to buy his own HDB under single scheme. then i take my own time to sell my own flat (fully paid).

 

[tricialau81]

Oic... I already had a buyer for my flat already still waiting for e other flat agent to get back to me whether e aunty wants to wait or not... cos she has to wait 3 months for my funds to b back into acc first

 

[TwinnyStars]

If seller cannot wait so long, you can consider a bridging loan. However, I'm not sure of the bank's charges.