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My 7yrs old 5 room hdb flat is purchased directly fr hdb, joined name with my brother. My brother now would like to withdraw his name from the hdb and he would like to purchase a hdb for his own stay with my parent.how is the procedure n cost involve like for transfer of ownership orbuying my brother's share of the hdb? My HLE application rejected as my income exceed the income ceiling for single purchaser. We both hold also 1 industrial property. Me n my brother both r single earning a yearly $52k
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1 Answer

Mike Lim
Replied
Morning Angel,

You can purchase the unit from your brother. You need to check how much CPF have your brother utilized, including accrued interest. Then apply from HDB to purchase the shares of the unit from HDB. As you income have exceed the income ceiling, eligible for HDB loan, you will need to get a private lawyer to do the conveyancing. This will cost around $3000. The stamp duty will depends on the buying price.

Do feel free to contact me if you need further assistance.

Regards
Mike Lim
 96929209 
ERA Read More
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