AskGuru Q&A Community

Hi Mr Kelvin,

You can remove your name from the 3 room flat but your mum will have to refund you all the CPF plus interests that you have used in the house. Very often for many families, these poses as a big obstacle. If your mum cannot take out that sum of money, then the another step will be to sell away the 3 room flat and your mum buys her own flat and you can proceed to buy your EC.

If you are fine, I can actually meet up with you for a discussion on this. No worries as there are no obligations. I can take the chance to explain more to you and also advise on what you can do. Just take it as a chit chat session.

Maybe I can also request for you to visit my website, www.jeffreyheng.com to view some of the testimonials my clients have left for me. Hopefully you can catch a glimpse of how I serve my clients too. I believe I will be in a good position to provide some advice to you.

Looking forward to hear from you soon! Cheers!

Best Regards,

Jeffrey Heng
Branch Division Director
ERA Realty Network Pte Ltd
SAEA Real Estate Excellence Silver Award - Best Client Service
(2014)
SAEA Real Estate Excellence Award Nominee - Best Client Service
(2012/2013)

Mobile : +65 9858 1322 
Email : hengjeffrey@gmail.com
Web : www.jeffreyheng.com Read More

Good afternoon Kelvin,

Do take note you have to sell off your 3rm flat within 6 months after taking possession of the new EC.

Thus if you decide to transfer your ownership of current HDB to your mom now, she must be financially capable to pay you back the amount of CPF OA funds you have utilised if not, she must have the ability to take on a mortgage loan.

If not, you have no choice but to sell off this unit.

Hope my explanation helps!

If you need any further assistance or advice in your situation, feel free to contact me. Cheers!

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

Hi there,

Please feel free to contact me at 96659926  for a non obligatory discussion for me to better understand your requirements and specifications to be in a better position to advise you further in the most detailed and thorough manner on your questions and queries. I am currently assisting my client in his EC purchase and hope to assist you similarly.

Rest assured, I will walk you through the entire process- assisting you all the way from finding the perfect property to negotiating for the best price to post deal paperwork, to establishing financial calculations and ascertaining risks. Furthermore, since you are not liable to pay any agent fees, why not let me shoulder the stress of the technical aspects of your purchase while you savor the process!

Visit my website to view my testimonials & recent awards to gather more information on me: www.kumarrai.com

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com
www.singapore-newproperties.com.
contactdkumarrai@gmail.com

About Me-

ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group-
2014 Overall Top Achievers
2014 December ERA Top Achievers
2014 3rd Quarter ERA Top Achievers
2014 August ERA Top Achievers
2014 September ERA Top Achievers Read More

Hi,

For your scenario, once your wife has obtained SC status, you can choose to purchase a new EC. Please take note you need to have fulfil MOP, have monthly incomes 12K and below and also one SC in the family nucleus application.

Since your name is one of the owners of the current 3-room HDB, what's going to happen is that before you book an EC unit, HDB will require to declare what you will do with your HDB ownership when EC TOP (either transfer to your mum or sell away HDB entirely after key collection)

If you transfer to your mum, she needs to be able to finance the CPF monies utiliized + accrued interest that you have used for the HDB, plus stamp duties on value transferred. This may be challenging, depending on how the HDB has been financed. The actual sums, I will need more info to illustrate for you.

If you sell the HDB away, it may be easier but your mum will have to relocate. Is she open to the idea?

Thanks and hope to speak to you soon to value-add to your housing plans further.

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

Afternoon Kelvin,

When your spouse gets her citizenship, both of you can apply for new EC. However, you will then be required to remove your ownership on the current co-owned property. Your mum will need to obtain loan or utilize her CPF to repay you the amount that you have paid for and the figures for the outstanding loan, if any.

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