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I am 56 this year. Together with my wife, 55, we bought and stayed in a landed home in 2016, with her brother. Now that we are eligible for a HDB flat, we plan to remove our names from the landed home, and buy a HDB flat instead. How should we proceed? Which comes first? Settle with CPF in order to remove our names? Remove our names and wait for CPF to come knocking? How long will this take? Should we buy a hdb in the mean time?
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6 Answers

Hi Daniel,

Do you mean you plan to transfer both your ownership shares of the landed property to your wife's brother? Is he financially able to take over as well? Suggest we do a detailed financial plan to see the feasibility of this before we take any next step for the hdb purchase. Yes the remaining owner needs to refund the CPF utilized gor property + accrued interest of all outgoing owners.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

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Hi Daniel,

Do you have existing funds to confirm your purchase of resale 4 room flat or smaller first before the removal of your names from the landed unit? If ok, you can do both concurrently, provided that your brother-in-law can takeover both your shares for the landed home financially, both in cash and/or CPF.

HDB purchase process will take an approximate 4 months to complete the entire transaction the fastest. The removal of your names can be completed in as early as 6 weeks if no loan or CPF is involved.

Process may take longer if you require your CPF funds to be used for the purchase and that if you have not met the basic retirement sum after CPF is refunded from your landed "sale".

I have been in the real estate business since 2009, with more than 14 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

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Hi, do you have the finance ready for your hdb? If you do , you can concurrently do both, taking into consideration your brother is able to take over the component of cpf as well as any remaining loan .

Hi, hopefully you managed to get your doubt or query answered. If so, then congrats! Hopefully you are doing well now.

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me.

https://www.era.com.sg/R064892F

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
97 39 60 40
landonchew@email.com Read More
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Hi, appreciate your sharing. Have to check whether your brother is able to purchase over your share ? If not have to workout the sum whether you have the sums to purchase, before cashing out the landed, then able to purchase HDB.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More
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Buying Resale HDB Flat Before Leaving Landed Property:
Confirmation of Funds: Secure funds for the resale flat purchase before removing your name from the landed property.
Concurrent Process (Possible): You can potentially buy the resale flat while your brother-in-law takes over your share of the landed property, financially (cash & CPF).
Requirement: Your brother-in-law must be able to fully cover your share of the landed property financially.
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The easiest way is to get a lawyer to assist in the decoupling for your BIL to buy over you and your wife's share. The law firm will assist to settle everything. Should you need help to find suitable HDB, that's where I can come in to assist. Read More
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