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I am intending to apply for a BTO due to family expansion but I am currently owning a 3 room flat as joint-tenancy with my mom since 2005 as a transfer of ownership. I am informed by HDB that my mom would need to refund the CPF amount to my account. But what if she has not enough funds or unable to secure a bank loan? Is there a solution for this?
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3 Answers

Mike Lim
Replied
Afternoon,

Many of my clients are in the same situation as you.
Unfortunately, unless you have enough cash to help your mother to settle the amount you have contributed, or both of you sell away the current unit, prior to the key collection of your new BTO unit, there seems to be no way out.

FYI.
Mike Lim
 96929209 
ERA Read More
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Mike Lim
Replied
Afternoon,

Many of my clients are in the same situation as you.
Unfortunately, unless you have enough cash to help your mother to settle the amount you have contributed, or both of you sell away the current unit, prior to the key collection of your new BTO unit, there seems to be no way out.

FYI.
Mike Lim
 96929209 
ERA Read More
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Catherine PANG
Replied
I conduct on line HDB financial calculation and training on selling and buying process for my associates. Call us at 9680 4288  for an opinion www.catherinepang.com Read More
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