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Hi Sir,

No matter whether your Wife gets her Citizenship, as long as both of you purchase a HDB flat, you will need to dispose off your interest in your Malaysia property latest within 6 months upon the flat purchase. Based on your situation, you may wish to write in to HDB to appeal to not sell the property.

Also, she will not be entitled to CPF Housing Grant as you currently own a private property (overseas). In order to be eligible for Grants, you will need to dispose off your private properties, then wait out a 30-month period.

Cash involved is subjective, because apart from the minimum 5% Cash downpayment ($27,500), it will also depend on the COV of the flat you're purchasing.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

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,

Eligibility:
1) If both of you remained as SPR, both of you have to satisfy the 3 years minimum period as an SPR before being eligible for a resale HDB flat.
2) If one of you became SC, then you are eligible for a resale HDB flat regardless of whether the SPR met the minimum 3 years period.

Overseas property:
1) Based on your situation you have to submit an appeal to the HDB before you know what action should you take.
2) You may use this feedback channel for the appeal:
https://services2.hdb.gov.sg/webapp/BF12AWFeedback/BF12SFrontController?service=ServiceFeedback&operation=createFeedback

Grant:
1) Your wife is not eligible for any grant if the HDB agreed for you to keep the overseas property.
2) Your wife won't b eligible for any grant until 30 months later after you sold your overseas property.

Cost based on $550k budget:
1) If it is SC + SPR, you will be eligible for the HDB loan (HLE):
(a) minimum of 10% down payment (can be in CPF), a maximum of 90% LTV
(b) Buyer stamp duty: $11,100 (can be in CPF)
(c) Legal fees: $2.5k (can be in CPF)
(d) Resale application, valuation cost & miscellaneous: https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/financing/costs-and-fees
(e) Option fee + option exercise fee = Deposit = max $5k cash
You will have to use cash if your fund in your CPF OA is insufficient.

2) If it is SRP + SPR, you will only be eligible for the bank loan:
(a) minimum of 25% down payment (5% must be in cash [$27.5k], 20% can be in CPF), a maximum of 75% LTV
(b) Buyer stamp duty: $11,100 (can be in CPF)
(c) Legal fees: $2.5k (can be in CPF)
(d) Resale application, valuation cost & miscellaneous: https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/financing/costs-and-fees
(e) Option fee + option exercise fee = Deposit = max $5k cash this will form part of your 5%.
You will have to use cash if your fund in your CPF OA is insufficient.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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