Firstly, you must be an SC and fulfil MOP before you can purchase a 2nd residential property.
For your case, if you as a SC, purchase a 2nd residential property with no outstanding loan, breakdown as follows:
Max Bank Loan 80%
BSD + ABSD + Legal Fees approx 10%
Please take note there are minimum sum requirements (77.5K) for 2nd residential property should you decide to use CPF for 2nd property.
However, for your suggestion, it may be possible, but you have to appeal with HDB on removal of your name. For further elaboration, please drop me an email. Thanks and hope to have the opportunity to work with you.
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You will need to fulfill your 5 years MOP.
Following that, we need to establish your citizenship status to go about on the BSD/ABSD calculations.
Please feel free to contact me at 96659926 for a non obligatory discussion for me to better understand your requirements and specifications to be in a better position to advise you further in the most detailed and thorough manner, for me to very comprehensively chart out your financial calculations flow and for us to explore the available options and alternative.
Rest assured, I will walk you through the entire process- assisting you all the way from finding the perfect property to negotiating for the best price to post deal paperwork, to establishing financial calculations and ascertaining risks. Furthermore, since you are not liable to pay any agent fees, why not let me shoulder the stress of the technical aspects of your purchase while you savor the process!
Visit my website to view my testimonials & recent awards to gather more information on me: www.kumarrai.com
ERA Associate Division Director
ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award
2014 Overall Top Achievers
2014 December ERA Top Achievers
2014 3rd Quarter ERA Top Achievers
2014 August ERA Top Achievers
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Do drop me a call or email for a more detailed discussion on your real estate plans.
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HDB decoupling is subject to a approval from HDB. They will assess based on MOP, family nucleus etc. and it may take up to 2.5-3 months.
Note that for the 2nd property, the one buying must have sufficient income to support the loan.
Do call 97455178 if you need assistance.
Thanks & regards,
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