Asked by Mr Tan
if my parents have fully paid up their flat. can they downgrade from 4-rm resale and purchase a new 3-room flat from HDB?
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1 Answer
Afternoon Mr. Tan,
Anything is possible. The only downside is your parent's current age, income status and credit record.
For purchase of new BTO, your parents are required to pay deposit, select and wait for key collection. They might be subjected to levy or might want to obtain mortgage loan for the purchase. Hence it would be good to work out the sums. Do not forget that if your parents rare above 55 years of age, portion of the CPF from sales, will go into their RA.
FYI
Mike Lim
96929209
ERA Read More
Anything is possible. The only downside is your parent's current age, income status and credit record.
For purchase of new BTO, your parents are required to pay deposit, select and wait for key collection. They might be subjected to levy or might want to obtain mortgage loan for the purchase. Hence it would be good to work out the sums. Do not forget that if your parents rare above 55 years of age, portion of the CPF from sales, will go into their RA.
FYI
Mike Lim
96929209
ERA Read More