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Hi Mrs. Low,

No, there is no need to "pay back" the grant. It will return to your CPF OA after you sell the flat, and part of it can be used to fund your next flat.

For contra cases, only HDB loan is applicable. Hence you can't do contra. But the downgrade should be feasible as long as the price differences is not too huge. Thanks and may I understand your housing plans further so to make better recommendations? Look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

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Hi Rachelle, nope you do not have to pay back the grant. And as for the contra case, I'm afraid you can't as your current loan is from the bank. Pls feel free to let me know if you need any assistance.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi Rachelle, dont need to pay back the grant, more importantly must fulfilled MOP. No contract if you currently with bank loan. If you worry about the temporary accommodation after the sale, can always ask for extension stay with the buyer.

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

Hi Rachelle,

Physical contra in terms of transition of HDB to HDB can be managed. In terms of monetary contra, as your unit is under bank loan, there is no such facility available. You can appoint the same lawyer for conveyancing so the lawyer can advise the various monetary payments and timelines to meet for both the sale and purchase to minimise inconvenience of speaking to different parties. You may also engage the same salesperson for both sales and purchase. As you will be looking at purchasing from resale market, you need not pay the resale levy for your next purchase.

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Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
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Good morning Rachelle,

You dont have to refund the housing grant you had taken in the form of resale levy if you downgrade to a smaller resale flat.

But do take note that you are not eligible for contra because for both sale and purchase transactions, you need to take hdb loan. In this case, your existing flat is under bank loan.

Perhaps you share with me your intention of opting for contra so I will be in a better position to assist and advise you further.

If you are concerned whether the sales proceeds will be in time to finance your purchase, I will suggest we can sell first and propose a temporary extension of up to 3 months from the buyers to ease the smooth transition to the new flat.

Just to share!

Only a one time sign up, you will be able to receive a free SMS update on the value of your home and neighborhood from me on a monthly basis.

Click this now: http://goo.gl/Gg5pe3!

Join me on board towards a hassle free update on valuation now!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
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No.1 team in Propnex Read More

Morning Rachelle,

You do not need to refund the housing grant on your downgrade. As your current purchase is on HDB loan and contra can only be executed with upcoming purchase that is also using HDB loan, you will be required to place 50% of the cash profit into the next unit.
Should you by any chance be 35 or more, it would be good to purchase the upcoming unit under single scheme if you can afford it. This would then allow your daughter to proceed to get her own unit should she get married or under single scheme.

Do feel free to contact me for detail discussion.

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

Hi Rachelle Low

Sorry to inform you that your hdb sale cannot be done by contra as your hdb was a bank loan , you can consider selling your hdb with extension stay up to a max of 3 months , subject to the buyer is agreeable .

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

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

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

Hi Rachelle Low

Sorry to inform you that your hdb sale cannot be done by contra as your hdb was a bank loan , you can consider selling your hdb with extension stay up to a max of 3 months , subject to the buyer is agreeable . The 3 months extension stay should give you enough time for a smooth transit from your 4 room hdb to a 3 room hdb .

Good news You do not need to return the grants that were given to you .

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

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

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