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Hi,

1) There is no resale levy when buying a resale HDB flat without grants.
2) You will only be subject to the resale levy when buying a BTO/SBF and resale flat with grants.
3) It is the 50% of your share that needs to be paid as the resale levy.
4) You just need to weigh the difference and see whether it is worth applying for the grants.
5) The family grants are $80k for SC/SC, $70k for SC/PR, and $40k for SC/FR.
6) The grants can be used to pay for the downpayment fully with funds from both of your CPF OAs, any excess will be used to reduce the loan from the HDB. The maximum funds you are allowed to keep in CPF OA for each of you is $20k.
7) Lastly, you have to pay the resale levy in cash only. The grants provided will be in terms of CPF funds. So you cannot deduct the resale levy from the grants given.
8) This resale levy has to be prepared and paid before the completion date.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answers 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
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer Read More

Did your new potential partner enjoy any subsidy before or purchased a BTO before? You will be required to use 50% of your cash proceeds for the purchase if you are intending to take up HDB loan. Read More

My Answer with regards to your Question:

Generally, flat applicants can keep the greater of $25,000 or 50% of the cash proceeds (including the cash deposit received). HDB will take into account the remaining cash proceeds when determining the second HDB housing loan amount

You may want to consult with HDB or a financial advisor to determine the most suitable financial approach based on your specific circumstances and goals.

Let me assist further ,.....pm me

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Hi,

Yes, you're right that you will have to fork out at least 50% of the cash sale proceeds from your first home to pay for your second home if you're taking up a second HDB concessionary loan. If you do not have the 50% Cash proceeds, or do not wish to put up so much Cash, there may be other options you may wish to explore.

It is advisable for you to apply for a HFE to have a better understanding of the loan and the Grants you're eligible for.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More

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