What You Must Know About Sell HDB Buy Condo?

Mop Upgraders17 Aug, 2022Business

Whenever you sell HDB to buy a condo, the amount of such an outstanding HDB loan would be paid off with the profits from the sale of the flat. This is because the HDB loan is secured by the flat. If the price of the HDB flat you sell does not bring in enough money to meet the total amount of the loan that is still outstanding, you will have to pay the difference in cash. Unless you've already paid off the loan on your HDB flat, it doesn't signify whether you sell the HDB first and then buy a condo first; either way, you'll be allowed to collect the maximum possible at 75% of the condo's value. Even if you've paid off the debt on your HDB flat, however, the order doesn't matter (provided your income supports it).