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Hi, nope there be no implications with regards to the HPS which was being paid up years ago. Pls feel free to let me know if you need any assistance. Have a good weekend.

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

Good afternoon,

HPS being an insurance scheme means the loan is already paid off fully when unfortunate events materialize, there is no clawback. The first step will be to apply for the 2 room flexi first, which you may want to find out more at the hdb branch. Once there's some confirmation of availability of unit, then we all proceed to market unit for sale might be a better plan.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng Realtor ASAP
(ASk Anything Property)
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Good day sir / madam.

There will be no more loan since ithe loan was paid out by the insurance .

There will be no implications as far as insurance paid out is concerned , essentially the full amount of the EA hdb sold will be paid to your mum .

Your mum can buy a small resale hdb , or rent a new hdb studio which costs approximately 100k for 30years of rent pro rate .

Kindly contact me Joanne Chia at my mobile +65 8333 3327  for a no obligations chat for your property needs.

My charges are 1% commission for exclusive ( sole agent ) selling rights to your mum property or 2% for open listing ( many agents ) .

Joanne chia
Email : Chia_joanne@yahoo.com.sg
Hp +65 8333 3327  Read More

I do not foresee any issues in terms of the sale as the selling price of house should be paid out in cash proceeds in full if there is no additional encumbrances which is not mentioned. The more critical portion is due to the limited supply of 2room flexi units, the purchase may not be as straightforward unless you are also open to go for a 3room HDB flat in the resale market.

Let's discuss further on your plans perhaps such that a more optimal decision can be made with proper references to the statistics available.

I can be contacted via my mobile or through email for further discussion as we are not alerted to any responses posted here.

I look forward to hear from you soon.

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Dear Sir/Mdm,

As some of my colleagues have correctly pointed out, the amount paid out under the HPS will be returned to her in the form of cash after the sale of the flat. If her CPF was used to service this flat, then the amount utilised till date plus interests will need to be returned back to her Retirement Account to satisfy the minimum sum requirement.

For your mum's case, she may rent out the spare rooms to generate some spare income. If she prefer to move to a smaller flat, then she will need to consider 2 important issues befoe she proceed. The first issue is the cash flow, the sale and purchase process will have to be planned such that she will be able to utilise the sales proceed from the current flat to service her next flat so that she can minimise her cash outlay.

The 2nd important issue is the timeline planning. The sale and purchase process should be planned such as your mum will not need to have an interim to stay during the transition. It will be inconvenient for someone her age to move to an interim place to stay before her new flat is ready.

I have assisted many of my clients who are in a similar situation to transit smoothly from one HDB to another. Please feel free to contact me so that I can understand your situation better and draft up a transition plan for your mum!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

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Mr & Mrs Wong (Property Seller) Read More

Hi,

There are no implications and your Mother would not need to refund the unpaid amount back as HPS is an "insurance" and the flat was deemed to be fully paid up.

If your Mother is staying alone, an EA might just be too big for her to upkeep. It might make sense for her to sell off the EA and get a smaller resale flat near to you, so that she can apply for the Proximity Housing Grant. With the cash proceeds, she can also retire more comfortably.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  .

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi Sir/mdm

for your property matter
Pls whatsapp to 8 2 7 9 - 8 3 2 7 to disccuess further

Koh zhen hon
Mobile: 8279 8327 
R 057810C / L 3009250K
ORANGETEE & TIE PTE LTD Read More