Originally Posted by
hkching
If that's the case, then you need to sell your place first before committing to buy. Selling HDB (after buyer exercise option) will take 6-10 weeks minimally. The cash portion for the sale proceed will be given to you at the 2nd appointment, which is at the end of the transaction.
For buying, here's the outlay.
1% Cash booking fee - when u agree to buy and set the buying price
4% Cash - When buyer exercise option
Stamp fee (cash) - within 1 month of buyer exercise option.
15% Cash or CPF / remaining with bank loan - When completing transaction
You may want to consider bridging loan. Again to apply, you need to show the bank that you already sold your HDB flat (by producing the sales agreement).