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Dear all,

My fiance and I have the CPF and cash to purchase a private condo. However, the setback is that I have a RESALE HDB jointly purchased with my parents on hand. May I ask what are the steps that I can do? I am at wits end regarding this. Require your valuable advice. Thanks in advance!
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7 Answers

Hi James,

May I know the exact concern? Is it that the 5 years MOP for the hdb have yet to be met? If so, we can try to appeal. If its about a higher ABSD rate incurred, then perhaps you like to explore removal of ownership. Your parents need to be financially equipped to take over your share though.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews
(Client's Testimonials) Read More
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Hi James,

Do contact me at 97970200  or ngsiewwhye@gmail.com to discuss

Mark, your RIGHT choice
MCG Read More
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Morning James,

Firstly, ask yourself these few questions:

1) Have you contributed CPF monies to the resale unit?
2) If so, does your parents have sufficient CPF fund to buy over your shares?
3) Are both of them still working and eligible for mortgage loan?
4) Are your parents agreeable to sell away the current unit and down sized within the same estate?
5) Are you willing to transfer your CPF monies to your parent's account in the event that they are short of CPF fund?
6) Lastly, what other reasons are resulting in the delay on the process?

Do feel free to contact me should you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Robbie Chen Chee Howe
Hi James,

Is the joint-purchase HDB flat still under MOP?
Have you utilized your CPF funds for the flat?
Is there currently a loan on the HDB flat?
Are your parents drawing an income?
Will they be able to undertake the loan should you withdraw your name out from the HDB?
Will they be able to refund your CPF monies to you if you withdraw your name?
Do you and your fiancee have the CPF and Cash to pay fully the new condo?
If not, do you have enough to pay 50% of it?
If yes, are both your income able to loan 50% of the condo?
Are you aware of the potential ABSD?

I will need your answers to all the above questions before I can give you an appropriate advice.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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GAN ENG JOO ONASSIS
Dear James,

RE: SINGAPORE PROFESSIONAL REALTOR SERVICES BY “ONASSIS GAN” – SGAGENT.COM

As long, you and your parent have the fund in CPF or cash to return your CPF upon you transfer ownership to them will be fine.

I would be glad to partner you in this property purchasing assignment. Do share more details before I can do any matching for you.

Onassis Gan | R021244C | Today’s SG Professional l SGAgent.com & SGRealtor.com
ACTA (Full); PDCE (Singapore); MSc BIT(Middlesex); BBA (South Australia)

Singapore Line : (+65) 92222389 
Malaysia Line: (+60) 111-0788889
Email: onassis@sgagent.com / sgrealtor.com
Skype: incomecare

SGAUCTION.COM & SGDEAL.COM - "ONASSIS GAN" Trusted 100% by SG Property Owners- Exclusive Sales Team Read More
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Joanne Chia 谢诗琳
Good day Mr James Wong .

Will your parents consider selling their existing hdb to free up your name, they can consider buying a cheaper smaller hdb . Or they buy over your share of the hdb ownership . Thereafter you and your fiance can buy a property without paying ABSD . Quite a substantial savings of 7% ABSD additional buyer stamp duty .

Kindly contact me for a no obligations chat for your property needs .

My charges are 1% commission for exclusive selling rights ( sole agent ) to your hdb or 2% for open listing ( many agents ) .

No commission chargeable when i serve private property buyers .

Joanne Chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More
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Hi James,

Yes your fiance will be able to purchase the condo alone. In this manner, you will not be subjected to the Additional Buyer Stamp Duty of 7%.

However, in terms of financing the property purchase, you will need to factor in the loan amount that she is eligible for since she is buying under a single income.

Please feel free to contact me so that I can do up a financial plan for her and assist and guide you through the property purchase process!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

Testimonial from Satisfied Clients (2016)
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
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“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
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Mr & Mrs Tan (Seller of Inter-Terrace House) Read More
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