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Hi,

Yes its possible once the official divorced status is obtained. You can then purchase a resale HDB unit with your mum as long as the finances are ready.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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Hi,

Yes it is possible. After their divorce has been confirmed, you could form a valid family nucleus with your Mother to purchase a resale HDB flat.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi,

1) There is no financial complication unless your mum demands it. Although she did not contribute money to the flat, the judge might think otherwise.
Let say your mum does not want to have anything from the past contribution. The whole process of getting the final court judgment should be around 6~9 months.

2) You may start your finance assessment right away. Do not over budget, or you might lose money for not able to exercise the OTP, or unable to pay this essential item.
(a) Check your CPF Original Account (OA) to see how much you have.
(b) Since you are Singapore Citizen, you will be able to apply for an HDB loan (HLE). Therefore you only need to prepare a 10% downpayment to purchase any flat type. This 10% can be all CPF.
(c) There is also a cash portion that you have to work out, such as a deposit for an OTP (Option-To-Purchase), OTP exercising fee. This amount can be up to $5,000. And other miscellaneous that need to consider as well. You have to prepare at least $6k including the deposit & exercise fee.
(d) Do not forget to include Buyer stamp duty & legal fee, although this can be pay using CPF. You have to ensure after paying for the 10% downpayment, you still have a sufficient amount for these 2 items. Because these 2 items are one of a higher amount.
e.g. $400,000 purchase price, stamp duty is $6,600, legal fee $797, mortgage stamp duty = $500, home protection insurance $256.80. Total amount = $8,153.80.
(e) Cash-Over-Valuation (COV): I have to remind you to take extra care in today's market, that COV is coming back. Thus practice due diligence before committing. As this will eat into your cash budget.

(3) You can only start your HLE application after your mum received the "Final Court" order, please be reminded that there could be an "Interim" judgment before this final. Thus do not need to hurry in your HLE application.
(4) HLE only last for 3 months, thus you have around 3 months to lock down the unit; i.e. submission of resale application.
(5) Since your dad is the owner, he does not need to do anything unless order from the court. He can still occupy the current unit.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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