AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
I am an owner of a DBSS flat with my mum as co-applicant and dad as occupant. I am financing the flat with my mum. Can I pull out of the DBSS so I can purchase a HDB flat with my wife-to-be. I understand my parent are 2nd timers and have to pay a levy. I can pay the levy for my parents and also have the ability to finance 2 flats with my cpf. Can I do so? Thank you.
0 •
839 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

3 Answers

William Koh
Replied
Hi Benedict,

You can do that after you have fulfilled the MOP of the DBSS.
Please do note that your mum is required to pay back those CPF contributed by you on this DBSS. Furthermore, you are not able to finance this DBSS as your name is not in.

--
Cheers,
William Koh
 9027 1972 
willkck@gmail.com
www.HomeOfSg.com
www.GuruSg.com
www.sgRippleBay.com
www.sgBartleyResidences.com
www.sgSkyHabitat.com
ERA Read More
0
Upvote Upvoted
Mike Lim
Replied
Afternoon Benedict,

The first DBSS will should only MOP in 2013, depending on your key collection date. To transfer the ownership to your parents is possible but they are required to repay the amount that you have used from CPF, plus interest. As for levy, it would be good to check with HDB about it. Every HDB buyer can only use their CPF to settle for one HDB mortgage.

FYI
Mike Lim
 96929209 
ERA Read More
0
Upvote Upvoted
Jaslin Poh
Replied
Hi Benedict,

Best person to answer you in details to your question will be the Branch Office in your area.

They will be able to advise you all required information to even fine details.

You will need to make a trip down with your mum, or alternative, draft a consent letter with a copy of NRIC(or Letter of Authorization)for your mum for you to make necessary enquiry.

Regards,
Jaslin
Huttons Asia Pte Ltd
Hp 83339131  Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions