Each household cannot have 2 HDB at the same time, hence you will have to sell your first HDB. One solution is to transfer your ownership to your mum, and withdraw both your names, however it requires HDB approval. Thanks and hope to discuss further on your housing plans.
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Do take note that one household can't own 2 HDBs at any one time thus you might want to consider these if you want to own two properties:
1) sell current flat and purchase 2. One under mom's name and another under yours and wife's name if your mom is able to finance one by herself.
2) keep current flat and purchase a private property instead.
3) Withdraw both your and wife's name from the ownership but your mom has to be financially capable of taking on a loan or return the CPF OA funds that both of you utilized.
Hope my explanation helps!
If you need any assistance or advice in your property purchase, feel fee to contact me. Cheers!
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727
(M): +65 9111 5171
(W):www.propertyavenue.com.sg Read More