Hi,
1) This is a common situation under a part sales scenario.
2) When one person is going to take over another party's shares, not everyone has all the cash lying in the bank doing nothing but collect the interest.
3) So we have to ask for help from the HDB or the bank depends on whoever is providing the financial assistance for the flat at the current moment.
4) They will assess your active income using MSR to determine whether they could offer you a higher loan to take over the other party shares.
5) It also depends on whether 50% of the flat really commands such price. This shall determine by the valuer.
6) When the HDB or bank agreed that they can increase your loan amount they will send a valuer down to assess how much your flat cost, and you can decide by then on how much you should pay for his shares.
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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