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i am staying in HDB which i bought (resale) 2 years ago and have not reach MOP yet..

i have 2 thoughts in my mind but not sure if they are do-able.

1) can i buy a new EC as upgrade since i am still within MOP of my HDB resale flat? the estimated TOP date of the EC is after my MOP period

2) can i buy a new private condo using my son's name. But he is only 2 year old so i can avoid the ABSD for second property. how much loan can he take in this case? can i add my/my wife name to improve the loan situation?
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3 Answers

Hi,

Did you take grant for your resale flat? If so, you can't buy residential property within the 5 year MOP period. If you didn't take grant, you can get a new EC, so long that your EC official TOP date is after your HDB MOP date. Thanks and hope to assist with your housing plans further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

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Hi upgrader,

In summary:
1) yes if you didn't receive any grants for your resale HDB
2) no, minimum age is 21 years old; even if he can, you'll incur ABSD the moment you add you/your wife's name

Feel free to contact me at your convenience, and we can carry on from there.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More
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Hi Sir,

There is a chance that you may be able to buy an EC during the MOP period. Do confirm with HDB to check your eligibility. As for buying a private condo using your 2yo son's name, it is not possible as he is not of legal age of 21 yet and he will also not be able to secure a loan.

Please feel free to contact me so that I can understand your needs and assist you further!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

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