AskGuru Q&A Community

Hi Mdm,

May I know if you're referring to HDB or private property?

If it's a HDB apartment, there is no way the transfer can be done.

If it's a private apartment, it is possible to transfer his shares to you. If all his shares were to be transferred, all CPF usage will have to be returned upon the transfer. If only partial shares was to be transferred, and he remain as a co-owner, there is no need to refund the CPF, and he can continue to use his CPD to finance for the apartment.

Charges will be the stamp duty and legal conveyancing fee.

May I know what's your objectives for doing the transfer?

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi Mdm,

May I know if you're referring to HDB or private property?

If it's a HDB apartment, there is no way the transfer can be done.

If it's a private apartment, it is possible to transfer his shares to you. If all his shares were to be transferred, all CPF usage will have to be returned upon the transfer. If only partial shares was to be transferred, and he remain as a co-owner, there is no need to refund the CPF, and he can continue to use his CPF to finance for the apartment.

Charges will be the stamp duty and legal conveyancing fee.

May I know what's your objectives for doing the transfer?

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi

if under private properties, it can be done.

As regards to your question, yes you will need to pay back the cpf utlise. Treat is as shares. how much he paid, you need to buy over.

You need to take note on your own TDSR able to take up and service the balance loan by yourself.

so you can buy over 100% or whatever percentage. if he has 1% share, he can still use his cpf to service the loan.

Fees incurred will be lawyer and conveyacing fees,
Stamp Duties of the amount (Shares) (estimated 3%)
Seller Stamp Duty if any.

Br
Shawn
 90294371 
ERA Read More

Dear Sir/Mdm,

1) Yes you will need to pay back his CPF that he has utilised for the property. You can either use cash or take a loan to repay this amount.

2) If he has sold all this share to you then he will not be able to use his CPF to service the mortgage anymore.

3) The total legal fees is about 6-7k.

Please feel free to contact me so that I can share with you further one the part sale process.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
https://www.cea.gov.sg/docs/default-source/module/newsletter/3-2017/bouquets-for-property-agents.html

Testimonial from Satisfied Clients (2016/2017)
“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”

Peter & Wendy (Property Seller)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
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 recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”

Mr and Mrs Chan (Sold and Bought a property through Nick) Read More