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Hi,

Yes for new EC you can buy with your parents, however they have to sell off their hdb when the EC keys are ready. They are also subjected to resale levy if they have already enjoy 1 subsidy for current flat (grants or new BTO etc.).
For private condo theres no need to sell the hdb if you buy with them, but ABSD is payable as it's their 2nd property.

May I have more info and requirements about your plans so to make better recommendations? Thanks and 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

Email: Ivanng10@gmail.com
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(Client's Testimonials)

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-- HDB BTO 4rm Sellers Mr. Farvin & Ms. Sel --

Ivan was the first agent that we met up with and right from the offset we had good vibes as he has a friendly personal approach, detailed working style and focuses on building the long-term relationship.

Our unit comes with its challenges but Ivan remained positive and had no qualms committing to our plans right from the start. It took only 6 weeks of aggressive marketing for him to secure a good offer which was a pleasant surprise in the end.

Ivan was always responsive and we had no worries to pass him the house keys. The whole process was transparent and hassle free, and he was always thinking from our point of view on how to make life easier for the client. He is a committed professional and has fast execution, so we felt assured that things are done well and we can entrust the sale process entirely to him.

--- HDB Flat Upgraders Mr. & Mrs. Lee ---

We decided to engage Ivan as our agent as we were impressed with how he answered the enquiries on property guru website.

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.

When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.

Thanks Ivan! :)

-- HDB 5-rm Sellers Mr. & Mrs. Ting --

We have engaged the services of Ivan Ng for sale of our property at Pandan Gardens. He is professional and systematic in his marketing approach.

He is hardworking and committed to his work. He puts in great efforts in arranging clients for viewings and kept us updated thereafter. He is ever ready to help and guide us whenever the need arises.

He provided us with sound and useful advice as well as closely follow through from the start till the smooth sale of the property within a short period of time.

Thanks, Ivan. Keep up the good work! Read More

Good morning,

Firstly, you will need to understand if your parents are willing to sell away their HDB unit. If so, you can apply new EC with your parents and market the unit prior key collection.
However, in the event that they are not willing to sell away their current unit, you can purchase resale EC or private apartment. This can be done either through sole ownership or with your parents. Do note that if you were to choose the latter, they will be liable for ABSD payable. There will also be restriction on the amount of mortgage that you can get.

Do feel free to contact me if you require additional assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA

Looking for someone who have knowledge and experience on sales and purchase of residential properties?
With more than 10 years experience on standard sales and purchase cases, I do also handle cases that is related to:

1) Mental Capacity Act
2) Long Lasting Power of Attorney
3) Estate Planning and Distribution
4) Divorce
5) Bankruptcy

Put your doubts aside before moving forward in life’s most rewarding decision with ease of mind as you are in good hands Read More

Hi,

There are few circumstances over here:
(1) Single, <35, is not eligible to buy a resale HDB.
(2) Single, <35 co-own with a parent who owns HDB. Yes. This shall form a family nucleus.
However,
(a) HDB forbidden decoupling by removing name from deed if they are still married and alive.
(b) If both your parents are alive and married, they will have to sell off their flat within 6 months upon key collection for EC.
(c) Your parents are subjected to resale levy if their current flat is BTO or resale flat with grant/s.
(d) Your parents have to pay a ABSD (7%) during purchase, as this is their 2nd property. But they can apply for ABSD remission upon key collection of EC.

Thus do note that extra cash is needed for (c) & (d).
Resale levy:
(i) 3-rm = $30k
(ii) 4-rm = $40k
(iii) 5-rm = $45k
(iv) Executive flat = $50k, this shall include EA or EM.

ABSD (7%):
$1M EC = $70k

So if you are financial independent and wish to enjoy a private property environment, it is better to consider private property, than to tie down by the policy.

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com

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MCG Read More

Hi,

If your parents has no intentions to sell off their existing HDB flat, you will not be able to include their names in your application for the EC.

Because, if you include their names and proceed with the purchase, they will have the obligations to sell off their HDB latest within 6 months upon TOP of the EC.

Before I come out with an appropriate recommendation for you, may I know what's your objective of purchasing the apartment? Is it for your own occupancy, or for investment purpose?

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi,

If your parents has no intentions to sell of their existing HDB, you will not be able to include their names in your application of the EC.

Because should you proceed to do that, your parents will be obliged to sell off their HDB flat latest 6 months upon TOP of the EC.

Before I can give a more appropriate recommendation, may I know what's your objectives of purchasing an apartment? Is it for you own occupancy, or for investment purpose?

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More