2 Answers

askguru expert
Hi there, thanks for your question on AskGuru. Here are the answers to your questions:
1) In general, there is a requirement for the marriage to already have taken place. However, the request for the marriage to take place after the purchase of the HDB flat can be raised to HDB;
2) There is a Minimum Occupation Period (MOP) for all purchases of HDB flats of five (5) years;
3) Yes, requests for valuations can only be done after the issuance of an Option to Purchase (OTP), i.e. after an offer for a resale flat has been accepted by a seller;
4) The Option Money for the OTP is up to a maximum of S$ 1,000. If you decide to exercise the OTP, you will need to pay deposit to the seller. This deposit, including the Option Money, must not exceed S$5,000. These amounts must be in cash;
5) Valuation Fee is payable to the HDB, chargeable to either credit card or NETS, depending on the mode of application for the report;
6) By “admin fee”, I am assuming you mean “Stamp Duty”. CPF funds can be used for the payment of Conveyancing and Stamp Duties;
7) Except for the initial S$5,000 mentioned in Point 4 above, the remainder of the 10% can be paid using CPF funds. This is assuming you are taking a loan directly from HDB;
8) If the value of the flat (as indicated in the HDB Valuation Report) is below the purchase price, the difference needs to be paid for in cash. In addition, other fees like Resale Application Administrative, Town Council, Fire Insurance and Valuation Fees need to be in cash as well, as are Agent Commissions.

You may wish to explore your eligibility for the different types of grants the CPF (Central Provident Fund) provides. Hope these answers help.

Team AskGuru Read More
Dear Miss,

We cannot assume the financial standing as they are important considerations when it comes to purchasing a property, whether resale or BTO. In this instance, you will only be eligible to purchase a resale HDB under the fiancé or fiancée, and you must submit the marriage certificate within 3 months from date of resale completion, under the HDB regulations. You will need to appeal to HDB to grant you a longer period for submission where approval is granted on a case to case basis.

Valuation of the HDB for resale transaction will only be done after buyer and seller has agreed on the selling price, and the option money and option fees is at most $5000 in cash. The valuation fees should be paid to the HDB where payment is made online. Resale application will be done after purchaser has exercised the Option To Purchase, where an admin fees will be charged. Should you be taking up HDB loan, your upfront payment will be 10% of the valuation price, where you can cover this amount using your CPF less than cash you have paid up front to the seller, plus the COV amount in cash if any. A buyer will also be required to pay legal fees as well as stamp duties which can be covered with CPF.

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
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