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Hi Shah,

If its a sale to related family members, its consider resale of part-share and its similar to a hdb resale process, just that its between related family members. You can read up more here.

https://www.hdb.gov.sg/residential/living-in-an-hdb-flat/changing-owners-occupiers/change-in-ownership/resale-of-partshare

Are they planning to use their 5-room proceeds to fully pay down the 4-room purchase price? If so, I can help to assist the timeline and coordination of both.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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-- HDB Executive Maisonette Sellers, Mr & Mrs Yeo --

Before contacting Ivan Ng, our Property Realtor, we were quite apprehensive about our Contra-deal ( concurrent resale & purchase of HDB flats) as at that time the outlook of the resale property market was quite sluggish & pessimistic. But surprisingly our property realtor, Ivan , was able to put us at ease with his professional competence, astute work experience & friendly nature . He was able to consummate our contra-deal within one month of our HDB application. Now we are convinced by his promise that (in Ivan's own words) ... "A contra-deal is where the sale & purchase transactions are done concurrently and completed on the same day. This results in a seamless transition of the funds from your sale proceeds and CPF proceeds towards your purchase price." More importantly Ivan has also managed to clinch a good deal for our contra-deal. We'll certainly recommend him to our kins & friends. Thank you very much, Ivan. We are definitely your satisfied customers! Read More

Hi Shah,

1) The buying and selling procedures are clearly spelled under the HDB web:
https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/procedures
2) Of course if it is too much to digest, I'll be pleased to assist.

3) I'll simplify the steps and processes that you and your husband should do:
(a) Understand which type of loan is better to suit your situation; an HDB loan or a bank loan.
(b) If choose an HDB loan, apply for the loan using this: https://services2.hdb.gov.sg/webapp/BP27AWHLEApplication/BP27SHome
(c) If choose a bank loan, find out which bank's package best suit your situation.
(d) Once receive the HLE (HDB loan) or banks' IPA. Register intent to buy: https://services2.hdb.gov.sg/webapp/BB31AWDashboardWeb/BB31PLogin.jsp

4) Your parents register an intent to sell, wait for 7 days before free to grant an OTP.
5) Once decided on the purchase price, use the HDB OTP and fill in the necessary. Apply for valuation.
6) Upon receiving the valuation report, exercise the OTP if the value works for you.
7) Both parties submit the resale application.
8) Endorse the document once the HDB accepts your application.
9) A HDB officer will come to do an inspection to ensure everything is in order.
10) Pay the necessary instructions by the HDB.
11) Pay stamp duty upon receiving HDB approval.
12) Attend the completion on the date given by the HDB.
13) Note that you will have to engage a private lawyer if using a bank loan.
14) Your parents can proceed to purchase their 4-rm flat once they received the sale proceeds.

Hope the above answer your main concerns, but if there are more query, 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

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Hi Shah,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, are your parents planning to use the cash proceeds from the sale of their flat to fully pay off the next flat purchase ?

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More