Good morning Raintree owner,
Great hearing from you!
1) if your dad is financially capable to take on a mortgage, probably you can assist him in the initial outlay of around 23% of purchase price if he's a Singaporean and able to loan up to 80%. But chances will be very slim because of his age and he might not be earning income now.
2) If you co-own your apartment with your spouse, you can sell your share to her but she must be financially capable to do so by taking on the mortgage and pay you back whatever you have
utilised in your CPF. Will incur stamp duty for the share ownership.
3) If these two options cant work, you might have to purchase another one under your name and incur the additional buyer's stamp duty of 7% as a Singapore.
Probably you can share more with me via mobile or email so I can be in a better position to advise and assist you as the suggestions above are based on my assumptions.
Hope to hear from you soon!
Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Property Avenue Pte. Ltd.
Vice President (Agency)
(M):
+65 9111 5171
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
Read More
