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Hi, me and my fiancee had applied for a bto that would be ready in 2022. We have went for our first appointment and paid a deposit of $2000. We applied for grant as well and it's already approved and the grant is already in our cpf. They have not called us yet for second appointment. What will happen if we would like to cancel the flat as im thinking of getting a resale flat instead. Will i have to pay for anything and forfeit the $2000? Thanks in advance.
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1 Answer

Hi,

What I understand is typically the 2k option fee will be forfeited, you be barred 1 year from purchasing subsidized housing (even resale flats with grant; meaning you have to purchase resale without grant) and all grants obtained thus far have to be refunded with accrued interest. There may be also other admin costs penalties. It will be best to confirm with the BTO officer.

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

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