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Good morning Mr. Lee,

If your mum have WILL the unit to you, you will be required to meet the HDB eligibility scheme in order to keep the unit. With the purchase of private property, you will have to choose to keep either unit.

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

Hi Mr. Lee,

If the HDB is willed to you, you must be able to meet prevailing hdb policies such as eligibility conditions in order to keep it. If not, typically it has to be sold in the open market (the more likely option).

I have done similar upgrading cases before and will be glad to share more on the detailed timeline and approach. 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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**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- 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.

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

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Thanks Ivan! :)

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

Good morning Mr. Lee,

I see your concerns, below are the straight answer to your questions:
(i) You may do both at the sametime; selling first has less paper work, but not mandatory in order
to avoid ABSD, there are other ways to avoid that.
(ii) Please note that even transfer of property via Will is still subject to ABSD unless by then it is removed.
You have the choice of keeping it if you met the HDB eligibility criteria or to sell it within specified period determine by HDB.

Hope the above answer to your main concerns, but if there are more queriee, 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 Read More

Hi Mr Lee,

Upon the inheritance, should you meet the eligibility conditions of owning a HDB, you will need to decide which unit to keep. If you choose to keep your own private property, you will need to sell off the HDB upon the inheritance.

As for your sale of HDB and purchase of private condo, you can also explore the option of purchase first and then selling your HDB within 6 months upon completion. You will be able to claim ABSD refund if the condo is your matrimonial home.

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 and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Good evening Mr Lee,

You will have to decide to hold on to your existing property (be it HDB or private) or the inheritance (HDB).

Reason being:

1) one household cant own 2 HDBs
2) if you decide to keep the inheritance (HDB), you will have to sell off HDB or private property within 6 months as per resale purchase regulation.

Hope my explanation helps!

As for your upgrading plans, do let me share with you what I had done for one of clients.

They will be selling their 4rm flat (havent fully paid) and intend to purchase an unit for own stay and the other for investment after a few rounds of detailed financial planning.

You might not believe. This plan will be funded entirely by their sale and they wont be coming out with any amount from their savings. They would have reserved funds up to 4 years to finance their homes even if they dont work.

Another clients of mine met me up on 8 august and had already committed to a condo purchase on 14 august even though their HDB sale will most likely ended up to be a negative sale. But with their HDB sale, they will have a reserved funds that can last them up to 3.5 years to repay the mortgage if BOTH of them never work.

I would or would not say this will be possible for you as well but with detailed financial planning, you will have a clearer picture what is feasible for you.

May I know when will be a good time to meet up?

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
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Good afternoon Mr Lee,

Sincerest apologies about the reply as Propertyguru doesnt prompt me when there's a comment to my reply.

Yes your wife definitely can be a sole owner of a private property if she can own it financially by herself BUT if you inherit the HDB in the future, the same situation will happen as well.

In order to own a HDB, there must be a family nucleus. Just the same as now, both of you are married and own a HDB as a family nucleus. So you have to decide to sell either one again.

Perhaps we can arrange a meet up so we can discuss what are the options available to us.

Hear from you soon (Do whatsapp, call or email me). Thanks thanks.

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yttanassetprogessor

Find out your property value for FREE on a monthly basis. Simply sign up by clicking the link below:

http://bit.ly/yt_proptrack Read More