Hi RA,
1) To begin with you have to meet the eligibility listed by the HDB, you may check which scheme suits your current situation:
https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/eligibility
2) Once you find the scheme that meets your situation. You may start to plan for the purchase.
3) As a citizen you have the option of seeking private banks or HDB for finance assistance.
(a) Private bank: 25% downpayment; 5% must be cash, 20% can be cash and/or CPF. Maximum 75% LTV (Loan-To-Value)
(b) HDB loan: 10% downpayment can be cash and/or CPF, maximum 90% LTV.
4) You can find the HLE application here:
https://services2.hdb.gov.sg/webapp/BP27AWHLEApplication/BP27PTerms.jsp
5) Your overseas salary received is eligible for MSR assessment, thus don't have to worry about this.
6) You will be asked to sign an undertaking letter to promise to dispose of your overseas property within 6 months on completion day.
7) If you foresee difficulties coming back for the completion of the sale, it is advisable to appoint a Power-Of-Attorney (POA) to assist in your completion.
8) The rest of the administration can be done web except the final signature on completion day. Ensure you have Singpass and a mode of electronic payment available to ease your administration.
Hope the above answer to 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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