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Hi, yes it is possible to do so, as per the normal process, you will need to get a HFE to do so as well, whereby you need to be able to cover their CPF used and accrued interest and outstanding loan if any.

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Landon Chew
97 39 60 40
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Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, yes it is possible.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

It is possible, but first to ensure eligibility, both you and your parents need to apply for HFE, to ensure that the plan is feasible based on the existing policies in place for HDB ownership. The rest of the process will be similar to that of a HDB resale.

If your parents require their CPF monies used for your current place to finance their purchase, and both of them are above 55, then they will need to visit CPF to request for the CPF monies to be set aside for the purchase of the 2rm BTO after the sale of current flat.

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I have been in the real estate business since 2009, with more than 14 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

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Hi

Its possible, but I suggest you only do any transfer or sale of ownership to you after they have confirmed and booked a 2-room unit. If they do not need the funds for the downpayment, they can actually wait until key collection of new bto 2-room then do the transfer to you.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

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We were fortunate to have met Ivan Ng. He was thorough in going through what the complicated home-selling process required of us and more so in understanding what we would like to achieve from the sale of our unit. His responsiveness and assurance, was a trait that we really appreciate. We managed to secure a sale that exceeded our expectation with Ivan’s advises. The offered price for our unit was a record set for the flats in the neighborhood. This was definitely supported by the fact that Ivan’s listing of our unit was detailed and stood out from other listings. Because of this, we also engaged Ivan's service to help us search and buy our new resale home. After some searches and viewings, we managed to secure one at a reasonable price with his help. With Ivan’s cheery and positive demeanour, selling our unit to procuring a new one, was a smooth journey for us. It was a pleasure to have worked with him.

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Before contacting Ivan Ng, our Property Realtor, we were quite apprehensive about our Contra-deal ( concurrent resale & purchase of HDB flats) as at that time the outlook of the resale property market was quite sluggish & pessimistic. But surprisingly our property realtor, Ivan , was able to put us at ease with his professional competence, astute work experience & friendly nature . He was able to consummate our contra-deal within one month of our HDB application. Now we are convinced by his promise that (in Ivan's own words) ... "A contra-deal is where the sale & purchase transactions are done concurrently and completed on the same day. This results in a seamless transition of the funds from your sale proceeds and CPF proceeds towards your purchase price." More importantly Ivan has also managed to clinch a good deal for our contra-deal. We'll certainly recommend him to our kins & friends. Thank you very much, Ivan. We are definitely your satisfied customers!

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Good day to you,

As a single buyer aged 35 and above, you are eligible to purchase your parent's unit under the Single Scheme. Your parents need to submit their Intent to Sell while you secure your HDB Home Financing Eligibility (HFE) letter. Once both of these steps are completed, the sellers will issue the Option to the buyer. Following this, the buyer will need to obtain a valuation report. With the valuation report in hand, both parties can submit their application through the HDB website.

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Regards
Mike Lim
 96929209 
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ERA Read More

1. Yes, it’s possible, but both you and your parents must apply for the HFE (HDB Financial Eligibility) to confirm eligibility.
2. You need to cover any CPF used, accrued interest, and any remaining loan balances.
3. If your parents are above 55 and need CPF funds for their new flat, they must visit CPF to request the transfer of CPF savings after selling their current home.

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