Good afternoon,
To my understanding, assuming HDB gives the approval for this transfer of ownership and your wife and you are able to financially service and buy out your brother's share, and since its a substitution of owners where you still remain as one of the co-owners since 2008, the MOP will not reset.
To confirm this its best you check with HDB Branch on this as they are the with the final discretion on this matter. I am thinking since you already have plans to sell, why not take this opportunity to sell now with HDB prices at an all time high? Especially if its an older flat, it is good to make the move now before the lease decay sets in further and impacts the price negatively in a few years time.
Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.
Warm Regards,
Ivan Ng Realtor
ERA Senior Marketing Director
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-- HDB Toa Payoh 5-RM Sellers of Million-Dollar HDB, Mr. & Mrs Leong
We were fortunate to have met Ivan Ng. He was thorough in going through what the complicated home-selling process required of us and more so in understanding what we would like to achieve from the sale of our unit. His responsiveness and assurance, was a trait that we really appreciate. We managed to secure a sale that exceeded our expectation with Ivan’s advises. The offered price for our unit was a record set for the flats in the neighborhood. This was definitely supported by the fact that Ivan’s listing of our unit was detailed and stood out from other listings. Because of this, we also engaged Ivan's service to help us search and buy our new resale home. After some searches and viewings, we managed to secure one at a reasonable price with his help. With Ivan’s cheery and positive demeanour, selling our unit to procuring a new one, was a smooth journey for us. It was a pleasure to have worked with him.
--- HDB Toa Payoh 4-RM Sellers Mr. & Mrs. Lee ---
We decided to engage Ivan as our agent as we were impressed with how he answered all our enquiries. He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked. Thanks Ivan! :)
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