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Evening Mr. Chua,

Firstly, in order for you to prefer with the transfer, your mum will be required to obtain sufficient loan to repay you for the amount of CPF and accrued interest you have utilized.
Secondly, after the transfer of ownership to your mother, we will need to write into HDB and request for approval to sell.
Lastly, we will also need to write into IRAS and request for waiver on SSD as the ownership status would have being reset.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi,

If your end objective is to sell your current place, it is not advisable to transfer then sell, since your mum needs to finance the value of share transferred, and have to pay the stamp duties. You are better off selling immediately.

The thing is I'm not sure when is your BTO coming, so I can't share the best solution to achieve what you need. Thanks and hope to understand your housing plans further.

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com
Www.ivanng10.com Read More

Good evening Seng Heng,

Probably you will like to share with me your reason in your intention to transfer the ownership to your mom then sell it off after the transfer.

Because your mom has to pay you back the amount of CPF utilized plus interest back to you if not she must have the financial ability to finance the mortgage.

Will advise you further after getting in touch with you.

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com
(W):www.propertyavenue.com.sg Read More

Good evening Seng Heng,

I presume that your current flat is bought directly from HDB if not, purchased with CPF housing grant. That's the reason why you have to pay resale levy of $40k. If you are purchasing a resale HDB, you wont have to pay it.

Maybe you can check with the HDB officer whether you will be subject to the full resale levy or partial because your mom is not an applicant in your new BTO.

Hope my explanation helps!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Property Avenue Pte. Ltd.
Vice President (Agency)
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

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