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Hello,

I would like to enquire on HDB rules with regards to selling a 5 room (inclusive of first timer and near to parents grants bought on the resale market) and buying another 5 room from the resale market.

Would there be any levies, grants applicable (if any) and any penalties imposed upon me?

The reason for the paralel move is to reduce the utilisation of cpf monies.
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5 Answers

Hi,

Resale levy only applies if you are buying a 2nd subsidized flat (examples new BTO, new EC, resale flat with grant etc). Hence, no resale levy applicable if you are buying resale market without subsidy/grant on open market. It doesn't matter which hdb flat type you buy. Since you have taken first timer grant and parents grant before, there are no other grants available. (You may still be eligible for Proximity Housing Grant, but please confirm with hdb)

There are no other penalties involved. Other costs include conveyancing costs and marketing costs and agent service fees. Happy to meet up to share more on a detailed financial breakdown and the best approach.

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.

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YT Tan (陈永达)
Good evening,

Resale levy will be applicable only if you decide to apply for BTO or new EC other than that, you wont have to refund whatever grants you have taken.

Do take note that if your existing loan is taken from HDB and your next loan is from HDB, you will have to use 50% of the sales proceeds and wipe off all your CPF OA funds to reduce the mortgage then it might defeat your purpose of using lesser CPF OA funds.

Moreover, doubt you are able to take proximity housing grant because you mentioned you had taken once before but it will be best you check with hdb is it the same as they term it differently.

By the way, have you fulfill your MOP yet?

Perhaps you can share more with me so I will be in a better position to advise you further. Cheers!

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Dear Sir/Mdm,

For your case, there will not be a resale levy as you are purchasing a flat on the resale market. However, you may want to examine the situation and determine whether the parallel move makes financial sense.

This is because there will be transaction costs such as legal fees, stamp duty and agent commission etc during the sale and purchase process. I would recommend that you do some financial planning before proceeding with the move.

Please feel free to contact me so that I can understand your situation better and provide you with further assistance!

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Interesting move in terms of your objective to reduce the CPF monies utilised. I am assuming you have already worked out on your finances to derive this decision, but have you also explored other options with financial planning involved?

There is no levy applicable in your scenario described. We are running a new program called BREW (Building Real Estate Wealth), where we look into the finances of our clients with assistance of bankers and explore all different options available for our clients such that our clients can benefit from this information to make the most informed and applicable decision for the benefits of themselves and leave a good legacy for the future generations, where it is a well known fact of a rising price trend in real estate over the years and for the years to come.

It is important to plan carefully and with proper knowledge and support from our partners, this can be done with relative ease and no obligations.

Get in touch with me in private for further discussion if you wish to look into this aspect as we are not alerted to any responses here.

I look forward to hear from you soon!

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Robbie Chen Chee Howe
Hi,

There is no resale levy if you purchase another resale HDB flat. You will only pay the levy if you go for a "second subsidized housing", like a new BTO or EC.

If you're looking to restructure your property portfolio, I suggest we meet up for an in-depth discussion, to explore the various options available to you in the current market.

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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