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I currently own a 5-room corner HDB with my brother and now that he is married, what must I do to transfer the property to my brother wholly so that he can put back whatever payments I have meted via CPF into my CPF using the easiest and cheapest possible means. How cn we get a free valuation of how much the house now worth so that it will be done based on the current value of the house.If the hose was bought based on a 50/50 stake and I have paid more, can my brother pay me using his CPF to transfer into mine including the profit I will obtain from the current nett worth of the hosue? I do not want him to come out any cash.
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1 Answer

Mike Lim
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Afternoon Benson,

In order for your brother to buy over your Share of the house, using his CPF, you have to request for valuation report from HDB.
With the report, we need to decide if any loan is required.
Your brother have to repay you the amount you have used, on te CPF component, plus interest.
The only cash component will be HDB admin fee, valuation report, etc, which should not exceed $1000, provided he does not need to take a bank loan.

Do feel free to contact me if you require any further assistance.

Mike Lim
 96929209 
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