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Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Good afternoon Sir/ Mdm,

i do understand your intention to stay close to your parents probably due to proximity housing grant as well.

My advice to both of you is to sort out the budget first while at the same time, register intent to buy.

You guys intend to take HDB or bank loan? Any idea what are the housing grants you guys are eligible to take?

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

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Hi,

1) The procedures of buying from a stranger and your parents are the same.
2) You may refer to procedures listed by the HDB:
https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/procedures
3) The pros are properly you can avoid the high COV that the current market is demanding.
4) I would need to understand your situation more to know why you have to buy over from your parents in order to determine whether there are any cons to this buying.

Hope the above answer 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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Hi,

You will first need to pay an option fee of an amount not exceeding $1,000. After which, your parents then issue you an Option to Purchase (OTP) form after 7 days from the date of the Intent To Sell. You can then submit the OTP to HDB to request for a valuation. An assigned valuer will then inspect the HDB flat to determine its valuation. You are also given 21 days to think over the intended purchase and to check your eligibility, financing aspects and other issues such as whether the flat is affected by redevelopment or upgrading, the liability to pay for upgrading costs, levy and so on and then to exercise your option.

To exercise the option, you must sign the 'Acceptance' portion on the OTP by ensuring that the date of issue of the HDB Loan Eligibility or bank's Letter of Offer is before the date of acceptance. You must then deliver the OTP to your parents and pay the Option Exercise Fee (which is a sum not exceeding $5000 - less the deposit already paid).

As to the pros, since they are your parents, the process will likely be a smooth process. The cons is that if your parents' house has a lease of less than 60 years, you will be subjected to a pro-rated CPF usage.

Sincerely,

Mohamad Khalil (Khalil Realtor)

CEA Reg No: R041186A
Licence No: L3002382K
E: realtor@khalilrealtor.com
Mobile: +65 8201 9254 
Website: www.khalilrealtor.com Read More

Hi, I am Brendan!

For HDB purchase, you will need to work out your finances well to understand your budget. Next, register your intent to buy and do up your HLE or bank in-principal approval. Thereafter, shortlist a few units for viewing to understand what you like and dont like.
The buying process can be tedious and time-consuming with arranging of appointments and timeline management. I will be able to help you manage all those for a fuss-free buying process. All you have to do is to view houses and decide which to buy.
I had helped many HDB buyers enjoyed a fuss-free buying experience. If you also like to have a enjoyable, fuss-free process pls contact me at 9754 5207  or wa.me/6597545207.

Thank you!
Brendan Bay, ERA
 9754 5207 
wa.me/6597545207 Read More