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Home Buying

Asked by Lynette 15 Jan 2009

Hi, We are interested to purchase a private property but the main problem is we have a direct purchase flat from HDB and understand we got to fulfill 5 years of occupation before we can purchase private property. Wonder is there any way out there?

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Brandon Aw ERA · Answer 1 · 2009-01-15T14:26:31+08:00

Brandon Aw ERA

Replied 15 Jan 2009

Hi Lynett,

Perhaps u can use your friend's, relative's or parents name first then convert to your names after your 5years minimum occupation period for your HDB apartment.
However, upon changing back the names to you, there will be legal costs incurred and also u need to pay stamp duty again.

Let me know.

Brandon - 8233 23 23 Read More

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YK

Lynette

Replied 15 Jan 2009

Hi, Thanks for your reply. If we will to use our parent's name, we will need to fork out cash for the 20% downpayment. We will like to utilise our cpf in this case.

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