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Hi,

An old question with some clarifications.

My spouse and I intend to buy a resale flat as our first home. We have already obtained the HLE letter.

My parents want to sell their flat (bought 2nd hand and already fully paid) to buy BTO (first time).

Is there a service that can help us do both transactions at the same time?

My parents have lower income. Is it a must for us to buy their flat first then they can afford the BTO? Or it doesnt make much difference which is done first?

Also, of course we could want the best price for the resale flat. who would determine this in this case? HDB?

Thank you!
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4 Answers

Hi,

Firstly, have they gotten a good queue no for the BTO? If they have one, and can select their desired unit, they need to put in a downpayment of up to 10% of the purchase price to secure the unit. Resale levy is also payable eventually, in cash. You need not do the transfer now if you have the 10% ready. But when the transfer happens you need to pay for the cpf utilized by them. HDB will appoint an independent valuer to appraise the property.

I'm not sure if this is the best option for your family, since their current place is fully paid up, and getting another BTO may mean they need to service another loan into their retirement years, and need to adapt to a new environment. Is there a strong reason to have this unit? Perhaps purchasing another flat nearby your parents place may be a better idea. Thanks and hope it clarifies.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
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Hi
Have your parents already got a BTO flat? Or are they looking at balance of flats? Most owners only sell their resale when their BTO is already here?
You may reach me via 91442664  for a detailed discussion.
Tricia Tan 91442664 
www.triciatan.myweb.sg Read More
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Evening,

Have your parents purchased the BTO or are you looking at buying over their unit first, let them stay with you till they get the keys for the BTO? Application for BTO will take some time to materialize as the building of the unit will definitely take time.

Do contact me further for detail discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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GAN ENG JOO ONASSIS
Hi,

Re: Our Preferred Experienced SG Realtor

On the ground, the HDB option to handle both transaction is that your parent BTO flat is ready soon with notice of key collection.

Call us now, we can explore further in detail.

We are contactable at 92222389  or onassis@sgrealtor.com.

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

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