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Hi,

For resale flat without subsidy no issue, they can purchase as many as they want so long the finances allow. As for BTO, its considered a subsidized flat and each SC can only take maximum 2 flat subsidies in life time.

The first direct purchase from hdb 30 years ago is considered subsidized flat. The bedok and AMK flats I believe you all didn't take any subsidy? If so they are still eligible for BTO. However do note a resale levy applies, and this amount is dependent on when you sell the 1st subsidized flat and flat type.

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

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews
(Client's Testimonials)

**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.

Ivan was always responsive and we had no worries to pass him the house keys. The whole process was transparent and hassle free, and he was always thinking from our point of view on how to make life easier for the client. He is a committed professional and has fast execution, so we felt assured that things are done well and we can entrust the sale process entirely to him.

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

We decided to engage Ivan as our agent as we were impressed with how he answered the enquiries on property guru website.

He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked.

When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.

Thanks Ivan! :)

-- HDB 5-rm Sellers Mr. & Mrs. Ting --

We have engaged the services of Ivan Ng for sale of our property at Pandan Gardens. He is professional and systematic in his marketing approach.

He is hardworking and committed to his work. He puts in great efforts in arranging clients for viewings and kept us updated thereafter. He is ever ready to help and guide us whenever the need arises.

He provided us with sound and useful advice as well as closely follow through from the start till the smooth sale of the property within a short period of time.

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

Hi,

(1) Your parents are still eligible for BTO if they had only bought a subsidized (new) flat 30 yrs ago.

(2) Your parents are not eligible for BTO if they did not apply for any grant for the resale flats in Bedok and AMK.

(3) There are no restrictions on how many resale HDB bought. Thus they can buy another resale flat now.

(4) Do note that they will have to pay resale levy for any BTO bought.
(a) The resale levy is according to policy set on subsidized flat sold before 3 March 2006.
(b) 3-rm HDB flat is 20% on the resale price + accrued interest.
Exception: Both parents are aged 55 and above, and right-size to new 3-rm or smaller flat. You will pay only percentage graded reslae levy (20% here), without accrued interest.
Noted also that there is a minimum amount to be paid, 3-rm is $30,000.
Example 1, 20% of 1st flat sold is $20,000, you will still have to pay $30,000.
Example 2, 20% of 1st flat sold is $40,000, you will have to pay $40,000.

Additional consideration:
(1) Your parent who reached 55yrs old, his/her OA would has combined with SA to form RA.
Amount in RA is not allowed to use for any flat purchase.
(2) If the transaction is not quick enough, the other parent who is now 54 yrs old, might be caught in between forming of RA when doing selling or buying.
(3) Ensure none of you, including yourself and siblings did not apply for proximity grant. If any of you did, then ensure your parents do not shift out of the same town or 2km away from the one who applied proximity grant.

Hope the above answer to 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

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Good evening,

Based on your statement, your parents had purchase a new HDB unit, likely to be directly from HDB, 30 years ago. They later bought a resale HDB unit from the open market, likely to be using bank loan.
The concern would be as follow:

1) The period which your parents sold the first HDB unit which is likely a subsidized unit. Levy payable based on the older HDB scheme can be quite hefty.
2) Based on your parent's age, one of them need to set aside the basic retirement sum before they are eligible to utilize the balance while the other can utilize all of it. How much loan are they eligible for should they purchase a resale unit?
3) Has the current unit fulfilled MOP requirement?
4) When will the other buyer reach age of 55?

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA

Looking for an experienced agent with knowledge on sales and purchase of residential property in Singapore?
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1) Mental Capacity Act
2) Long Lasting Power of Attorney
3) Esate Planning and Distirbution
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