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Hi Mdm,

Is it possible for your FIL and husband to sell the 4 room flat as long as they have fulfilled the 5 years Minimum Occupation Period (MOP). As to how much sale proceeds in terms of cash after the sale, we will need to take into consideration what is the outstanding loan amount (if any) and the amount of CPF both of them have used towards funding the house over the years.

I will be happy to assist them to do up a financial plan so that they are more aware of the figures before they proceed with the sale. For you and husband, yes it is possible for both of you to buy your own flat after the sale.

Please feel free to contact me so that I can gather more information from you and assist you further!

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 Tan (Seller of Inter-Terrace House)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recomm Read More

Hi,

It depends on the home loan outstanding, and the CPF utilized + accrued interest of both owners. The sale price, less the home loan, CPF utilized, legal fees and agent fees will be the sale cash proceeds that they can get. If your father in law has met the full CPF retirement sum, he may also be to draw down the excess amounts as cash.

Would need more info to confirm the cash sale proceeds for you. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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Before contacting Ivan Ng, our Property Realtor, we were quite apprehensive about our Contra-deal ( concurrent resale & purchase of HDB flats) as at that time the outlook of the resale property market was quite sluggish & pessimistic. But surprisingly our property realtor, Ivan , was able to put us at ease with his professional competence, astute work experience & friendly nature . He was able to consummate our contra-deal within one month of our HDB application. Now we are convinced by his promise that (in Ivan's own words) ... "A contra-deal is where the sale & purchase transactions are done concurrently and completed on the same day. This results in a seamless transition of the funds from your sale proceeds and CPF proceeds towards your purchase price." More importantly Ivan has also managed to clinch a good deal for our contra-deal. We'll certainly recommend him to our kins & friends. Thank you very much, Ivan. We are definitely your satisfied customers!

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and yes, thereafter he can jointly purchase another resale HDB with you. Thanks and look forward to discuss further at 97432395  Read More

Good morning Ms,

We might to sit down and work out the finances for their sale and your prospective purchase with your husband first before we proceed further.

Have they fulfill 5 years minimum occupation period (MOP)?

Did your father in law use any CPF OA funds in current place? If yes, he has to fulfill full retirement sum. Is he going to buy a place himself after sale or staying with you guys?

Both you and husband will be eligible to buy a HDB if you meet the eligibility conditions.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

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Hi Sir/Madam

1) Have they fulfill 5 years minimum occupation period (MOP)? If yes then can sell the flat

2) It will be depend on
- CPF , If they used CPF to purchase your current place, when selling they need to return the CPF used plus accrued interest
- Outstanding Loan (if any)

3) Cash proceed will be selling price minus outstanding loan minus CPF return

4) Selling price will be depend on level, facing, condition of unit, etc
Appreciate if you can contact me at (65) 96608508  with details of your unit so I can advise accordingly

5) I will be glad to assist finding the right buyer

6) Yes it is possible for your husband to buy another flat if he meet the eligibility:
https://www.hdb.gov.sg/residential/buying-a-flat/resale/eligibility

I will be glad to assist, Appreciate if you can contact me at (65) 96608508  with details of your unit
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More

Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, yes it is possible and I just needed more info from you pls?

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

Hi ,

Thanks for your query.
It is possible to make a tidy cash sum, however, I can only confirm the actual sum once I have the exact figures. I will then draw up a comprehensive financial plan with timeline and exact computations to help advise you further.

The discussion , not limited to advise and insights, will also allow me to help you understand transaction caveats, historic sales report, available options and map out the market and the steps involved for a purchase. Perhaps you could contact me on my mobile or connect via zoom for an in detailed discussion. Thank you.

Do visit my website for my recent accolades, awards and testimonials @ http://www.kumarrai.myweb.sg

D Kumar
 +65 96659926 
ERA Associate Division Director

#1 team of ERA in Singapore, Asia Pacific International for 2014/5/6/7/8/9/2020

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Hi,

1) Your father-in-law is eligible for the 2-rm Flexi lease BTO. This would be a good choice for retirees.
2) Since this existing flat is jointly owned by your husband, the sale proceeds would have to be split according to the share owned by each party.
3) Regarding whether the sale proceeds are sufficient to retire shall depend on the amount and his expectation.
4) Your husband should plan for his next flat once decided to sell the existing one.
5) On the question of owning your flat shall depend on your residence's status. You can own part of the share in an HDB flat if you are an SC or SPR.
6) You can only be an occupier and not an owner if you are still on an LTVP or work permit.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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