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Hi,

There are 2 main concerns here:
(1) Eligibility:
Since you are only 32 yrs old single. You cannot purchase resale HDB yourself as Single Citizen Scheme.
However, if you wished to purchase with your mother only. Your mother must be single as well, i.e. divorced or widowed, in order to be eligible to form a family nucleus and apply with public scheme.

(2) Finance:
It dependent on which estate you wished to purchase a 4 room flat. Let say I used $300k as the baseline for calculation,
The amount you need are as below:

Cash required for resale purchase:

(1) OTP deposit & exercise = $5k
(2) Resale application = $80
(3) Registration & microfilming = $215.90 (3-rm & above)
(4) Valuation = $120
(5) Miscellaneous = $16.05
(6) Caveat = $139.30
(7) Fire insurance = $5.50 (4-rm)
(8) Salesperson commission (1%+GST) = $3,210

Total: $8,787

CPF:
(1) 10% downpayment = $30k
(2) Basic stamp duty = $3,600
(3) Mortgage Stamp duty = $500
(4) Legal fee = $508
(5) HPS = $600 dependent on loan amt.

Total: $35,208

Once you sorted out the above 2 main points, you are ready to buy now.

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,

If your mother is windowed or divorced, you can purchase resale HDB unit with her under public scheme. However, if you are getting a HDB loan, the loan period will be impacted due to your mother's age. If she had sold a subsidized unit before, she might need to prepare 50% of her cash proceed from the sales before you are eligible to obtain the balance as mortgage.

Do feel free to contact me should you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA

Looking for an experienced agent with knowledge on sales and purchase of residential property in Singapore?
With more than 10 years experience on all S&P cases, along with knowledge related to:

1) Mental Capacity Act
2) Long Lasting Power of Attorney
3) Esate Planning and Distirbution
4) Divorce
5) Bankruptcy
6) Purchase of HDB after Retirement Age

You can be sure that your concern and doubt will be cleared. This would allow you to move forward in one of your life's most rewarding decision with ease of mind. Read More

Good afternoon buyer,

You are eligible to purchase a resale HDB with your mom (widowed or divorced).

I will advise you to apply for HLE (HDB loan) or IPA (bank loan) first to gauge how much loan you are eligible based on your income before proceeding further.

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

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