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Hi Gurus,
I am coowner for my parents 5RM HDB,We have completed our MOP, I wanted to come out of the coowner , and planning to buy HDB resale or new flat with my Wife who is a SPR.
For doing this, will HDB treat this process as transaction and do I or my parents need to pay any stamp duty or anything as such ?

Since my parents are 60 years old and still working, how may years loan approx my parents can get from HDB?

Will there be any change in Flat valuation ?

For my new HDB flat will I be treated as first time buyer ?

Am I eligible for HDB loan and grant ?

Please advice
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1 Answer

Mike Lim
Replied
Morning,

If you have contributed to the mortgage repayment of your current unit by CPF, your parents need to get monies / mortgage loan to refund whatever you have contributed. Not forgetting the accured interest. For this process, there will be legal and stamp fee.

If the current unit which are staying in was purchased directly from HDB or with grant, even though it was initially under your parent's name before you added yours, you will be considered as second timer. When this is the case, you will not be entitled to grant. As for HDB loan, you can write into HDB and appeal for your case.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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