davidbslee 1 Report post Posted December 5, 2010 Hi everyone, Can you give me some advice as currently my parents hdb 5rm flat is already fully paid long ago (cost about 80k that time) and they wanted to move to a new smaller BTO 3rm flat cause only them staying there. If they apply for BTO and let said they are lucky enough to get a Q number to choose the flat, can they wait till the BTO about to TOP then start selling their current old 5rm flat and use the sell proceed to fully paid the new 3rm flat so that they dun have to take loan. They dun have much CPF, Please advice. Thank you. Share this post Link to post Share on other sites
forgotten 1 Report post Posted December 6, 2010 Hi everyone, Can you give me some advice as currently my parents hdb 5rm flat is already fully paid long ago (cost about 80k that time) and they wanted to move to a new smaller BTO 3rm flat cause only them staying there. If they apply for BTO and let said they are lucky enough to get a Q number to choose the flat, can they wait till the BTO about to TOP then start selling their current old 5rm flat and use the sell proceed to fully paid the new 3rm flat so that they dun have to take loan. They dun have much CPF, Please advice. Thank you. Your parents have to pay 10% downpayment for the BTO when they sign the lease of agreement. Lease of agreement is signed before HDB starts tendering the BTO out to contractors. If your parents have no CPF, they would have to pay for the 10% downpayment with cash. This will be around 18K. Yes, they just need to sell off the current hdb within 6 months after they get the keys for the BTO house years later. For the payment of the sale proceeds to the BTO house, I'm not that sure. I shall wait for the other forumers to answer this part Share this post Link to post Share on other sites
