If i become 3rd owner to assist my parent pay HDB, mean i cannot buy BTO?

[1982-1994]

I talk with agent, mine is special case still can get 1st time buyer grant. Just that, only issue they need to return the amount i already contribute...

yes you have to save up the $70k and put back unless your parents have the savings
so if they have sold the flat,the accrued interest and principle amount that you have used will go back to your OA

my case,I saved up the money and put back into my OA since my mum boh $
but my name is still inside ,it doesn't matter since my mum is selling her flat in the next couple of months

 

[foxer77]

Just few months ago I already stop paying, but the 3rd ownership and 70k+ of my CPF already park inside.

Look like only way is to sell the HDB...

yearly still got accured interest .

OA use need to pay back 2.5% of your oa use ... u borrow your own OA for flat. need to pay back intrest

go to your hdb acc to check total how much in total apart from the 70k+...

 

[Joe Maya]

ur agent told u or hdb told u? Better go clarify with hdb sia

Hdb agent....

 

[1982-1994]

yeah the AI is still compounding despite the principle amount has been returned unless I returned the AI too

 

[Laneige]

Then the 60k i already park at their HDB. They need to pay me back is it?

By cash or cpf

 

[1982-1994]

anyway to answer your question, you can still BTO
but have to put back the whole amount within the 6 months after you collected the keys to your new flat

 

[Laneige]

use cpf for the house also might end your first home benefit next time u getting your hdb..

Only for those that get bto n grant will eat into the count lah
Use CPF won’t ma

 

[Joe Maya]

have checked with the staff and I still have 2 chances to get new BTO

I was a first timer upon balloting for 3 times BTO launches

You same case as me? "Assist" parents to pay off mortage.

I think only way if I want new BTO is to sell the house and get my OA back...

 

[semiret]

I think you don't qualify as 1st time buyer anymore. Correct me if I'm wrong.

 

[lilycll]

Just few months ago I already stop paying, but the 3rd ownership and 70k+ of my CPF already park inside.

Look like only way is to sell the HDB...

Your parent will have to buy over and pay by cash/cpf for your one third share before your name can be withdrawn out to buy your next unit. How you settle the amount is between you and your parent privately.

You will still be eligible to apply a 2nd time or take a 2nd HDB concessionary loan if you have already taken 1st loan on this unit.

 

[pantss]

Is it case by case basis or die die i cannot own 2 HDB?

You’re an owner, does not matter you helping your parents your siblings to pay.

If can own multiple hdbs then everyone also helping friends and neighbours

 

[Laneige]

Just few months ago I already stop paying, but the 3rd ownership and 70k+ of my CPF already park inside.

Look like only way is to sell the HDB...

Why u stop paying
How old is current hdb
Gd location? Sell stay where?
Ballot two rooms bigger one lo
U go squeeze or go out unless u need to take care of parents as they will get old

now sell hdb Shld b easier

 

[1982-1994]

You same case as me? "Assist" parents to pay off mortage.

I think only way if I want new BTO is to sell the house and get my OA back...

yes same case as you
the staff advised me to pay in cash to avoid complications
but I never thought so much as I was still a single

how much is the resale market price of your parent's house?
2r flexi depends is it non mature or mature estate
difference can be $70k though they should have grants

 

[Ronaldo88]

Last time I also thk of helping my folks in tis way using my cpf to pay..but if I get involved,I no longer a clean white paper..saving unnecessary trbles

 

[Joe Maya]

Nvm lah, i just buy condo.

 

[1982-1994]

I think you don't qualify as 1st time buyer anymore. Correct me if I'm wrong.

I am in the same situation as TS
but I have BTO-ed 5 years back and waiting for my keys

 

[1982-1994]

Nvm lah, i just buy condo.

kns you have money to buy condo but commented the only way is to sell your parents house

 

[yoongf]

Look like only way is to sell the HDB...

Do u hv other sibling can buy over flat solely?

 

[Joe Maya]

kns you have money to buy condo but commented the only way is to sell your parents house

No lah seriously i just stay with them then take care of them. My house valuation 600k+, 5 room high floor unblock view, very attached to the house.

 

[1982-1994]

Do u hv other sibling can buy over flat solely?

wah kio sai
unless he or she wants to stay single