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Hi there Gurus,

I am the 3rd owner of an HDB flat. We intend to downgrade from 4rm to 3rm as to pay the new house in full rather than paying mortgage (current balance at $71,000) and i too want to remove my name from being the 3rd owner. Once removed, am I still eligible to purchase a private property or do I need to wait for a certain period? Thanks...
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1 Answer

Johnny Goh Mui Huat
Replied
Hi SG,

You can buy a private property immediately.

However, pls take note that if you had been using CPF to pay for the HDB, this money will be refund to your OA and you can only use this to fund your private property that you intend to buy.

Secondly, you need to take note of the eligibility of the other 2 owners. If you happen to be an essential occupier or spouse to any one of them, you cannot buy private property immediate and need to wait for 5 years.

Hope that I had answered your question.

Feel free to contact me if you need my assistance.

Thanks and Regards
Johnny Goh
R018297H
Dennis Wee Realty Pte Ltd
Group Director
Mobile: 90906267 
Email: johnnygohmh@dwg.com.sg
Website: johnnygohproperty.com Read More
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