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Morning Lizawati,

Based on your statement, you are the co-owner of the current unit along with your parents. If you are looking at getting a unit under single scheme when you reach age of 35, you will require to perform part-sales of your share to your parents, if your parents intend to keep the current unit. They would then be required to obtain a mortgage loan to service the component which was paid by you. Alternative, you will need to sell off the current unit and purchase the next under your name solely. Depending on your income status, you can apply for HLE or my list of bankers can assist you accordingly.

Do contact me further for non-obligatory discussion.

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

Hi,

when you reach 35 and intend to purchase on your own, you have to sell your share of ownership to your parents and they have to finance the market value of the amount either via loan or CPF. alternatively you can consider selling the flat and use the proceeds to finance the next flat. You may be still eligible for hdb loan since each individual is eligible for 2 hdb loans in his/her lifetime. Thanks and hope to assist further.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Www.ivanng10.com Read More

Hi there,

As your question is of complex nature- including the natters of finances and the need to advise of the next course of action, let's catch up at 96659926  for me to fully understand and identity your plans. From there, I can plan and illustrate your financial calculations flow and thus advise you further how to maneuver to expedite on your purchase.

Furthermore, we will need to have your In Principal Approval (IPA) assessed and done-
Will guide you on what and how

Once loan has been approved, financial calculations are well understood- I will succinctly propose units to view for your consideration.

(5) Once you have identified your ideal unit, I will step in and help you negotiate for the best possible deal.

A transaction report will be made available to you prior offer stage, so that you can study the transaction caveats of the development and surrounding properties for a greater in depth price analysis of market to ensure you are indeed making the RIGHT offer!

Following that, post deal paperwork will be handled by myself. I will also coordinate and guide you on the legal procedures for the purchase.

As you can see, purchasing a property is an extremely organized and timely process and, it will be of huge added advantage to you if you engage a realtor with years of experience and knowledge - because that will ultimately translate to finesse and a smooth process.

If you are comfortable with working with me for your real estate needs, I will be most glad to render my services, advise and expertise accordingly and go over all the procedures and regulations involved so that your purchase intention can be taken to the next level.

Visit my website to view all my recent accolades - esteemed awards and testimonials to gather more information on me: www.kumarrai.com

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com

#1 team of ERA in Singapore, Asia Pacific International for 2014.

About Me-
ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group-
2015 February ERA Top Achievers
2014 Overall Top Achievers
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Hi Lizawati,
When you at 35, after sold the current flat,
1. Your 39K + accrued interested will be returned to your CPF account, same portion for your parents. The proceed will be received in cash. Example the 5rm flat cost 400K, the estimated cost will be 10K cash + 45K CPF.

2. Yes, one of the option is to used the proceed to renovate you new house. In this case, you may ask for temporary extension to hand over you current flat after sold.

On top of the above, you may also need contra to handle the cash flow.

Please drop me an email for me to share the details.

I can be contactable at my mobile or email.

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