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Hi,

Buying resale flat from open market, no resale levy is involved. You can consider to add in their name as occupiers after selling the current flat, and it is likely the first timer grants for you will still be available.

Whether to be able to get higher loan, I will need more details from you.

Purchase BTO flat, resale levy will apply. And it is difficult to get an unit since balloting is by luck and favours first timer applications.

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 Realtor
ERA Senior Marketing Director
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Ivan was the first and only agent that we met before engaging him as our exclusive agent. At the first meeting, Ivan meticulously went through the entire sale process. As we were not familiar with the procedures, he spent extra time to explain what was required from us and what we should expect.

After a week of preparation, Ivan came to take photographs, and once the advertisements were up, we had interested parties coming to view the apartment the very next day. Within a week, we had secured an offer from the buyer. Ivan was reliable and responsive, and he made the entire process smooth and hassle free Read More

Hi Sir,

If you're looking to purchase a resale flat, there is no resale levy applicable.

If you're looking to apply for a new BTO flat, you can only apply for a 2-room flexi flat in a non-matured estate. Your parents will not be able to jointly apply with you as they had already utilized both their chances. Even if you appealed and HDB allows them to jointly apply with you together under Public Scheme, it is likely that they will need to pay resale levy for the sale of their current flat.

Based on your described scenario, I think option 1 would be the most feasible option for you and your family.

However, do take note that if your parents are past age 55, they will have to set aside the Retirement Sum after the sale of their current flat. This may affect their next purchase and your budget.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

Should you need require 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 in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi sir
I fully understand your situation on this. To clear the air, there is not resale levy required to purchase a resale flat. As for grant wise, it may be true that you might not be eligible for singles grant if you include your parent's name as owner of the new resale flat. As an alternative, you can choose to include your parents name as an occupier. However, do note for EHG(singles) grant, household incomes from all owners and occupiers need to be included in the assessment. This might result in a lower quantum received if any of your parents is still working. Beside single grant, you are also eligible for PHG grant of $15k if your parents is named only as occupier for the new resale flat. Alternatively, you may include your parents name as owners and forgo the grant. In this case, if your parents have taken more than 2 HDB loans previously, you are not eligible for HDB loan and have to take up a bank loan. If your parents only take up 1 HDB loan previously, it will be quite a complex situation which I can explain if we got a chance to meet up. Do note that in the event you did not take up singles grant but include your parents name as owners, you will not forfeit on the grant. You are still eligible to take singles grant or first timer grant should you get married and purchased another house in future or purchase another house in the future as a singles. For the second option of buying a BTO, do note if you take up a bigger unit and and list your parents an an occupier, your parents will be deemed as an essensial occupier not just normal occupier. In this case resale levy might apply. As for higher loans, it is quite unlikely that HDB and banks could grant you as they must adhere to MAS regulations of TDSR limit. As such, I do advise you to consider each options carefully before making a decision. I do provide free and non obligatory discussions in regards to property trnasactions in Singapore. In addition, I am well au fait with the timeline procedures for HDB resale invoving cashflows and transition arrangements where I can plan the timeline accordingly depending on your needs. Do contact me at 93375051  for a free and non obligatory discussions on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More