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Adam Place HDB Questions

Asked by RK 28 Nov 2012

I am a co-owner with my parents (now >55yrs) for my existing resale flat for the easy of getting HDB loan. Currently, I and my wife would like to apply for a new HDB flat and sell off my existing flat.

Questions:
1) will i still be eligible for HDB grant and loan?
2) Can I get the keys of the new flat before I sell off my existing flat?
3) Some proceed of the existing flat will be refunded to my parents CPF retirement account i guess. Possible to get the money out or use it for the new flat if I put my parent name in the new flat?

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2 Answers

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Mike Lim · Answer 1 · 2012-11-28T17:05:04+08:00

Mike Lim

Replied 28 Nov 2012

Afternoon RK,

For your first question, this would depend on the purchase status of your current unit. Did your parents bought it directly from HDB before adding your name in or did you purchase it with grant, along with your parent's name?

As for your second question, if your financial status permit, you are allowed to sell your existing unit within 6 months from key collection.

In reference to your last question, you need to purchase your BTO with your parent being included as applicants. And given their retirement age, they might not be able to utilize every cent of it.

FYI
Mike Lim
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