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Hi
Yes you can jointly purchase a resale with your dad and your dad can use up till the excess of basic retirement sum from his retirement account to finance for the new house. As for grant wise, I need further information on your profile to advise further. Should you get married in future, you need to sell off or take out your name from your current flat if you plan to purchase another flat together with your spouse. In terms of grant, you are still eligible for first timer grantt for purchase of your first home after marriage. I will explain further in details if we got a chance to keep in touch. Do contact me at 93375051  for a free and non obligatory discussions on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More

Hi,

I'm afraid we need more detail to work out something useful.

I'll highlight some of the item which you might have oversee at this juncture.

1) Yes, you may purchase with your dad as you may purchase under family scheme.

2) The loan tenure (i.e. loan period) is going to be short due to your dad's age. This can be calculated using the weblink provided:
https://www.99.co/blog/singapore/property-jargon-of-the-day-income-weighted-average-age-iwaa/

3) You may be eligible to grant but dependent on the following:
a) Your dad purchase any BTO flat, or resale flat with grants.
b) Your household income

Grants for BTO flat:
https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/new/schemes-and-grants

Grants for resale flat:
https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/financing/cpf-housing-grants

4) Last is the impact:
You may remove your name from the flat only if,
a) Your dad who takeover must has the financial means to take over the remaining loan.
b) Your dad has to return your CPF utitlized in this purchase include interest.
Do note there is a sell and buy process involved thus also subject to buyer stamp duty on your share. And lastly is the legal fee.
c) If your spouse is 1st time buying, you will still entiled to 1st timer priviledge even though you receive gratns in this purchase. But if your spouse has similar situation as you, both of you will consider as 2nd timer application.

Hope the above answers 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://www.facebook.com/Homesellerbuyer/

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