Just reach age 35! Need some advise on buying resale HDB from my Parents!

[AreYouNoob]

Hi all,

So I just reached the legal age to buy resale flat as a single and I have some questions to ask:

1) Can my parents with existing 4-RM HDB flat (fully paid) just go ahead and apply for BTO and eventually sell their flat to me (i am the son) for a minimum amount and use the proceedings to contra for their new flat?

2) If point 1 is valid, does the minimum amount needs to be a certain figure? Lets say 4-RM flat is 450,000 but I pay my parents 250,000 to cover their CPF+ accrued interest that they have spent on the flat over the years.

3) Even if it is legal, will HDB block the transaction if the selling price is too low compare against the actual valuation price?

Need some advise from all the saxpert here, thanks in advance.

 

[Balian]

camping for experts

 

[kimsix]

dont ask edmwers, write in to hdb resales email and then arrange a call if need.
they very helpful have to say

 

[kcarrey]

wah your parents can stil buy hdb 3 times rite?

 

[cannonmaster]

How chiur parents who own a flat apply for bto?

 

[Evil_Boss]

Hi all,

So I just reached the legal age to buy resale flat as a single and I have some questions to ask:

1) Can my parents with existing 4-RM HDB flat (fully paid) just go ahead and apply for BTO and eventually sell their flat to me (i am the son) for a minimum amount and use the proceedings to contra for their new flat?

2) If point 1 is valid, does the minimum amount needs to be a certain figure? Lets say 4-RM flat is 450,000 but I pay my parents 250,000 to cover their CPF+ accrued interest that they have spent on the flat over the years.

3) Even if it is legal, will HDB block the transaction if the selling price is too low compare against the actual valuation price?

Need some advise from all the saxpert here, thanks in advance.

This one i ask before coz my mom also ask me the same thing..

flat has to be let go at the fair market price.

meaning to say, if 450k is the fair price, max maybe can let go at 420-430

 

[notbui]

This one i ask before coz my mom also ask me the same thing..

flat has to be let go at the fair market price.

meaning to say, if 450k is the fair price, max maybe can let go at 420-430

but resale hdb is the buyer and seller determine the price what.

if ts parents willing to sell to him at 250k, hdb should not be stopping them what

 

[tankgunner]

how many times your parents bought BTO from hdb before?

 

[AreYouNoob]

dont ask edmwers, write in to hdb resales email and then arrange a call if need.
they very helpful have to say

haha...noted!

 

[winorlose]

HDB not kum gong.. they wont allow your parents to sell their hse at super below mkt price . U have to buy over at market value price (u agar agar see the valuation so you dont need pay COV)

 

[AreYouNoob]

How chiur parents who own a flat apply for bto?

everyone in their lifetime can buy 2 times BTO mah.... isn't it?

 

[AreYouNoob]

wah your parents can stil buy hdb 3 times rite?

i think max is 2 times per lifetime haha

 

[AreYouNoob]

This one i ask before coz my mom also ask me the same thing..

flat has to be let go at the fair market price.

meaning to say, if 450k is the fair price, max maybe can let go at 420-430

the fair price u mentioning is the valuation price izzit? but if let go at 420-30, hdb will ask me top-up the difference anot ah?

 

[AreYouNoob]

how many times your parents bought BTO from hdb before?

Just once..... i am urging them to go try luck for the 2nd time

 

[Coutinho_#23]

Hi all,

So I just reached the legal age to buy resale flat as a single and I have some questions to ask:

1) Can my parents with existing 4-RM HDB flat (fully paid) just go ahead and apply for BTO and eventually sell their flat to me (i am the son) for a minimum amount and use the proceedings to contra for their new flat?

2) If point 1 is valid, does the minimum amount needs to be a certain figure? Lets say 4-RM flat is 450,000 but I pay my parents 250,000 to cover their CPF+ accrued interest that they have spent on the flat over the years.

3) Even if it is legal, will HDB block the transaction if the selling price is too low compare against the actual valuation price?

Need some advise from all the saxpert here, thanks in advance.

hmm need ask expert here liao

 

[rtfm38]

Sorry hor alot of ppl already think of this lobang but government patch it up already. Just call hdb best to get up to date info.

 

[coyote]

Interesting thread....

 

[Illusionist_85]

you try to bto and while waiting stay at your parent resale flat ahh.. ur parents stay ur 2 rm bto then u stay resale abit weird leh..

He happy can liao

 

[tankgunner]

Just once..... i am urging them to go try luck for the 2nd time

they need to secure their new home first unless you are willing to take them in.

 

[Captain Muthu]

Nice strategy, camping for tips