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Hi,

I am a declared joint owner of a condo unit in Bukit Batok Regent Heights.
My hubby and I are PR but due to my hubby's retrenchment, we had to move out of SG.
We are in financially challenged right now, so to help, I am thinking of giving up my PR to withdraw CPF and help our situation while my hubby retains his.
We are still hopeful we could get back to SG.
Do i need to transfer the ownership of the property to my husband?
Or I can still be a joint owner?

Caren
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3 Answers

Joanne Chia 谢诗琳
Hi Caren ,

I am assuming options based on limited details from you ,

If you have to sell your condo due to financial ......

You and your spouse should retain both your SPR , your family can buy a hdb provided both you and spouse are SPR for at least 3 years which is one of the criteria to buy a hdb .

Other criteria are finance issues , the cheapest , small and old , resale hdb is in the mid $250k onwards , you will need enough cash and / or cpf , or qualify for a mortage loan if Neccessary .

Other costs 5% ABSD is payable for SPR when buying a property .

Hopefully your family would have own your present condo for at least 4years before selling , or else SSD sellers stamp duty is payable .

Kindly contact me for a no-obligations chat for your property needs .

My charges are 1% commission for exclusive selling rights to your property or 2% for open listing .

Joanne_chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More
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Hi Caren,

It may be challenging to transfer the ownership to your husband since he is retrenched and may not be able to secure a loan to purchase your share.

It may be advisable instead to downgrade to a HDB so that you can cash out on your property while still having a place to stay.

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

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

Testimonial from Satisfied Clients (2015/2016)
“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick from Property Avenue has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
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“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
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“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”

Mr and Mrs Chan (Sold and Bought a property through Nick) Read More
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Hi Caren,
To over the current situation, you may choose to rent out the condo to collect rental or sell it.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More
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