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

[tingsters]

does parents hav enough $ to buy bto? enough cassh for etc fees, downpayment and etc?
so mostly they not entitle to any grant, they need to sell their house then the procced to buy bto..
do they need loans etc? if yes need to check with hdb liao...
and how many rm does ypur parents looking?
now bto take a very long time to build....

TS look at outside resale and look somewhere belong your budget?
or buy somewhere near your parents place?

unless you want to share the next unit with your parents as owners.. then no comments...

 

[Ye_Rongtian]

Ur parents buy flat will be considered 2nd timer. Not so easy.

 

[Coutinho_#23]

does parents hav enough $ to buy bto? enough cassh for etc fees, downpayment and etc?
and how many rm does ypur parents looking?
now bto take a very long time to build....

TS look at outside resale and look somewhere belong your budget?
or buy somewhere near your parents place?

unless you want to share the next unit with your parents as owners.. then no comments...

if TS wanna buy bto with parents can. Sell resale can already. But to sell resale to him and parents go opt for bto not easy. Bto for their age probably need more cash better. Bto normally young peepur tio one

 

[AreYouNoob]

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

we are all still staying in the 4-RM flat. I am just thinking ways to buy a bigger new flat.

If my parent buy BTO, can 5 RM
If I (single) buy BTO, max is 2 RM

so best is they buy and resale to me. LOL

 

[AreYouNoob]

Ur parents buy flat will be considered 2nd timer. Not so easy.

Just try luck only. every quarter throw 10bucks admin fees better than sit there think of how to become richer yah?

 

[Coutinho_#23]

we are all still staying in the 4-RM flat. I am just thinking ways to buy a bigger new flat.

If my parent buy BTO, can 5 RM
If I (single) buy BTO, max is 2 RM

so best is they buy and resale to me. LOL

can sell the 2room after MOP.. buy from parents then they go do WILL pass all assets and $$ to you.

 

[Darkraid]

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.

actually u can buy ur parents flat as long u buy at the same price as valuation

for example if valuation is 500k u dun go and buy at 250k. a little bit below valuation is fine.

 

[drkcynic]

1. You need to "pay" for your parents to return funds to their CPF + Interest.

2. You need to pay stamp duty on market valuation, not your buying price.

 

[saycheese]

So old Liao still want your parents carry debt hai

 

[tankgunner]

we are all still staying in the 4-RM flat. I am just thinking ways to buy a bigger new flat.

If my parent buy BTO, can 5 RM
If I (single) buy BTO, max is 2 RM

so best is they buy and resale to me. LOL

 

[AreYouNoob]

if TS wanna buy bto with parents can. Sell resale can already. But to sell resale to him and parents go opt for bto not easy. Bto for their age probably need more cash better. Bto normally young peepur tio one

i dont wanna buy bto with parents....haha. defeat the whole purpose eh. I think if can contra, they dont even need to fork out cash for their new bto flat.... just need more confirmation haha

 

[tingsters]

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?

u just make sure the valuation does not goes less then what you offer....

 

[Darkraid]

what u can do is

1. ask parents get bto
2. when collect key ask parents sell current house to u
3. u buy ur current house and live in bto

thats how singles can buy bto

 

[Ye_Rongtian]

Just try luck only. every quarter throw 10bucks admin fees better than sit there think of how to become richer yah?

Might as well apply BTO under your name as main applicant and put your parents as occupant. Then your parents sell their flat and pocket profit. You pay for the BTO using your CPF.

 

[AreYouNoob]

So old Liao still want your parents carry debt hai

No hor. if possible, they could use the proceedings i pay them to offset the new bto flat?

 

[Laoyeh]

Buy from relative nice.they can sell u 2k too...

 

[archon75@]

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.

There is a valuation of the resale flat.

If resale flat transaction price below valuation, I think the seller need to top up the difference. I may be wrong. Pls double check

 

[bIkErS]

i suggest u buy resales near ur parents...

den move them over.. ur parents place rent out to JHK... woohoo... double win... PAP wanshui !!!!

 

[AreYouNoob]

Might as well apply BTO under your name as main applicant and put your parents as occupant. Then your parents sell their flat and pocket profit. You pay for the BTO using your CPF.

because my end intention is to have 2x4RM properties under me and my parents.... 1 for staying, 1 for renting out mah (generate those passive income better thn pocket the 1 time profit in my perpective).

 

[Ye_Rongtian]

No hor. if possible, they could use the proceedings i pay them to offset the new bto flat?

Will kena levy one. Cos they selling the flat and getting another subsidised flat. It is 40k.