learner guide hdb resale procedure and financial plan_v2

7/27/2019 Learner Guide HDB Resale Procedure and Financial Plan_V2

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( Version 2 )


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HDB Resale Procedure & Financial Plan Property of Wild Wild West Properties Pte Ltd

Contents Page

Section 1 - Introduction

Type of HDB Flats 2 - 4HDB Time Planning 5Learner Activity 1 6 - 7Learner Group Activity 1 8

Section 2 Resale ProcedureResale Checklist Buyers & Sellers

9 - 12Important notes on Option To Purchase 13 - 16How to fill up the Option To Purchase 17 - 26Documents for Registration 27Learner Activity 2 28HDB Eligibility Scheme and Conditions to Purchase 29HDB Eligibility Checklist 30 - 31Ethnic Integration Policy 32

S ti 3 CPF H i G t


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Types of HDB FlatConversion : 1 sq.m = 10.76 sq.ft

TYPESFloor Area (Approx.)

Sq. Meter Sq. Feet

2 'S' 42 452

3 'I' 60 646

3 S 65 700

3 'NG' 68.8 741

3 'A' 73 788

1/2 RM 82 883

'I' 82 883


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RESALE TIME PLANNING


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After viewing a potential unit for the second time, your buyer decided to purchase the unit. Thebuyer had a valid HLE from HDB and both the sellers and the buyer wanted to complete thetransaction as early as possible.

Please advise buyer accordingly using the resale time planning.


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Discuss the individual answers that your grouphave and select one representative to present your

best answer and the points to take note.


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Documents For Registration (HDB/BANK)

SELLER :

RESALENET APPLICATION FORM$80 REGISTRATION FEES

BUYER :

RESALENET APPLICATION FORM$80 REGISTRATION FEESBUYER CHECKLIST


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After viewing a 4 room flat in Jurong today, both the buyers and sellers of the unit agreed tosell and purchase the unit at S$388,000. Your are the salesperson acting for the seller and youare required to fill up the OTP (using the sample copy of OTP provided) based on thefollowing information :

Buyers :

Divorcee, Tan Chin Chuan, S1085677DDaughter under his custody, Ong Bee Geok, S9900991ACurrently staying at Blk 123 Choa Chu Kang Ave 1#03-90 Singapore 680123


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Eligibility Schemes & Conditions to Purchase

* SC denotes Singapore Citizen ** SPR denotes Singapore Permanent Resident

Scheme Citizenship(Family Nucleus)

Min Age

(years)(Owner) Family Nucleus Special Conditions

Public (PA) 2 SC; or1 SC + 1SPR;or2 SPR

21 Applicant, spouse & children, if any; orApplicant (single), parent & siblings; orApplicant (widowed, divorced orseparated) and children legally under hiscustody

Fiance/Fiancee 2 SC; or1 SC + 1SPR;or2 SPR

21 Couple intending to get married Marriage certificate must be shown to HDB within 3 monthsfrom resale completion date. For couples applying for the CPFHousing Grant, they must submit it on /before the resalecompletion date.

Orphans 2 SC; or1 SC + 1SPR

21 A single orphan applicant and his siblings;or two single orphans. Unrelated orphansmust buy as co-applicants and must be atleast 21 and are SCs (JSS).

Unrelated orphans must buy as co-applicants. Unmarriedsiblings are not allowed to buy separate flats. If an orphan isthe only child and single, he can apply under the SSC schemeif he is at least 21.

SingleSingaporeCitizen (SSC)

1 SC 3521(orphans/widows)

Single person who is unmarried, divorcedor widowed.

You can buy a resale flat of any flat-type in any town/estate.

Joint Singles(JSS)

2 SCs 3521(orphans/widows)

Related or unrelated singles. Application must include at least 2 Sporean as owners.

Non-Citizen

Family(NCF)

1 SC 21 1 SC applicant who is at least 21 and a

non-citizen family member as occupier

The non-citizen listed occupier must have at least a six-month

long-term social visit pass on the date of registration.

Non-CitizenSpouse(NCS)

1 SC 21

35

Married a non-citizen spouse with at least 6months social visit pass.Married a non-citizen spouse with less than6 months social visit pass.

You can buy a resale flat of any flat type.

Source from HDB


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HDB RESALE BUYER'S ELIGIBILITY CHECK

1. HDB ELIGIBILITY SCHEME

Public Scheme (PA) Non-Citizen Spouse Scheme (NCS)

Fianc/ Fiance Scheme Non-Citizen Family Scheme (NCF)

Single Singapore Citizen Scheme (SSC) Orphans Scheme

Joint Singles Scheme (JSS)

2. CPF GRANT FOR FAMILY $20K to $40K CPF GRANT FOR SINGLE $15K/$20K Singaporean Singaporean Age: 21 Age: 35 First timer Income ceiling $5k Family nucleus 5 Room Income ceiling $10k No private property last 30 months

$15k Stay same flat with parents Not bankrupt

No private property last 30 monthsNot bankrupt

Buying Resale flat not affected bySERS

Buying Resale flat notaffected by SERS

$15Kor$20K stay with Parents

$20K SC / SPR Household$30K SC / SC Household$40k near Parents /Married Child


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HDB RESALE BUYER'S ELIGIBILITY CHECK

3. QUALIFY FOR HDB LOAN

At least one buyer is a Singaporean citizen

Household monthly income $10,000 (Family)

Household monthly income $5,000 (Single)

Have not previously taken two or more HDB concessionary interest rate loans

Do not own any private residential property ( include HUDC flat/Executive Condo) inside or

Out of Singapore

Have not disposed off any private residential property ( include HUDC flat/ Executive

Condo) within 30 months before the date of application for HDB Loan Eligibility (HLE) and

have never taken any HDB concessionary interest rate loan

Do not own more than one owner-operated market/hawker stalls or commercial/industrial

property in or overseas

Do not own any market/hawker stall or commercial/industrial property that is rented out


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Ethnic Integration Policy & PR Quota

The Ethnic Integration Policy (EIP) is to promote racial integration and harmony and toprevent the formation of racial enclaves, by ensuring a balanced ethnic mix among the variousethnic communities living in public housing estates.

The EIP is applicable to the purchase of new flats, resale flats, SERS ( Selective En-blocRedevelopment Scheme) replacement flats and DBSS (Design, Build & Sell Scheme) flats as wellas the allocation of rental flats in all HDB estates.

Under the Policy,

Maximum proportions are set for all ethnic groups : Chinese, Malays and Indian/Others, in eachHDB block and neighbourhood. There is no restriction on the sale and purchase of an HDB flat ifthe proportion of the buyer's ethnic group is within the prescribed block and neighbourhoodlimits.Once the block/neighbourhood limit for a particular ethnic group has been reached, no further

sale of HDB flats to that ethnic group will be allowed if it will lead to an increase of theproportion beyond the limit.There is no restriction if the buyer and seller are of the same ethnic group.SPR QuotaFor resale applications received on or after 5 March 2010, Singapore Permanent Resident (SPR)families buying a resale flat will have to meet the SPR quota, in addition to the Ethnic IntegrationPolicy (EIP). The SPR quota ensures that SPR families can integrate into the local community forsocial cohesion and to prevent enclaves forming in the public housing estates. The quota will


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Type of CPF Housing Grant Available

Source from HDBTarget Recipient Type of CPF Grant

For married couples who areFirst-timer applicants

Family Grant

For married couples who are

First-timer applicants andBuying a resale flat near their parents'/married child's HDBflat or owner-occupied private residential property

Higher-tier Family Grant

Applicants of $30,000 Family Grant/$40,000 Higher-tierFamily Grant, if:They have worked for at least 1 yearand

Average monthly household income over the last 1 year doesnot exceed $5,000

Additional CPF Housing Grant(AHG)

For Single Citizens:Single applicants aged 35 and above who buy the resale flatto live on their own under Single Singapore Citizen (SSC)Scheme, or

Singles Grant
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantAHG?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantAHG?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantSingles?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantSingles?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantSingles?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantAHG?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantAHG?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocument


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Family Grant

Eligibility Conditions :

Criteria Detailed Description

Citizenship You are a Singapore Citizen. Your family nucleus must comprise ofat least another Singapore Permanent Resident or Singapore Citizen.

Age You must be at least 21 years old.

Family Nucleus You are applying with your:Spouse and children (if any), orFianc/fiance (must be able to produce your marriage certificate,latest by the date of resale completion), orChildren under your legal custody, care and control (if widowed ordivorced)

Income CeilingYour

average gross monthly household income

must not exceed$10,000#.

If applying with extended family,average gross monthlyhousehold incomemust not exceed $15,000#.Guidelines on assessment of household income.#For resale applications received on or after 15 Aug 2011.If youraverage gross monthly household incomeover the past 12months is $5,000 and below, you can also apply for the Additional
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatExtendedFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatExtendedFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatIncomeGuidelines?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatIncomeGuidelines?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantAHG?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantAHG?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatIncomeGuidelines?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatExtendedFamily?OpenDocument


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Type of Family Grant and Respective Grant Amount

Type of Grant Available Amount

SC / SC Household SC / SPR Household

CPF housing grant for familyRead more about PromotingCitizenship in HDB Households

$30,000 $20,000#

CPF housing grant for family (livingnear parents/married child*):Parents staying with you in the resaleflat, orYour parents and married child are theowner-occupant of property in thesame town or within 2 km

*At least one of the parents/marriedchild must be a Singapore PermanentResident or Singapore Citizen.

$40,000 $30,000#

Half Housing GrantIf you are a first-timer citizen and yourspouse has previously enjoyed ahousing subsidy

$15,000or
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCheckDistance?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCheckDistance?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCheckDistance?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCheckDistance?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocument


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Higher-Tier Family Grant


Citizenship You are a Singapore Citizen. Your family nucleus must comprise ofat least another Singapore Permanent Resident or Singapore Citizen.Read more about Promoting Citizenship in HDBHouseholds

Age You must be at least 21 years old.

Family Nucleus You are applying with your:Spouse and children (if any), orFianc/fiance (must be able to produce your marriage certificate,latest by the date of resale completion), or

Children under your legal custody, care and control (if widowed ordivorced)

Income Ceiling Youraverage gross monthly household incomemust not exceed$10,000#.If applying with extended family,average gross monthlyhousehold incomemust not exceed $15,000#.If youraverage gross monthly household incomeover the past 12
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatExtendedFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatExtendedFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantAHG?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatExtendedFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocument


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Type of Family Grant and Respective Grant Amount

Type of Grant Available Amount

SC / SC Household SC / SPR Household

CPF housing grant for familyRead more about PromotingCitizenship in HDB Households

$30,000 $20,000#

CPF housing grant for family (livingnear parents/married child*):Parents staying with you in the resaleflat, orYour parents and married child are theowner-occupant of property in thesame town or within 2 km

*At least one of the parents/marriedchild must be a Singapore PermanentResident or Singapore Citizen.

$40,000 $30,000#

Half Housing GrantIf you are a first-timer citizen and yourspouse has previously enjoyed ahousing subsidy

$15,000or
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCheckDistance?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCheckDistance?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCheckDistance?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCheckDistance?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocument


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Additional CPF Housing Grant (AHG)

Eligibility conditions:


Meet eligibility

conditions andare applying

for:

CPF

Housing Grant

for Family or

CPF

Housing Top-

Up Grant

AHG applicants must meet all eligibility conditions and must

be applying for any of the CPF Housing Grant below:CPF Housing Grant for Family or

CPF Housing Top-Up Grant

Employment You or your co-applicant(s) must be in continuous
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFTopUpGrant?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFTopUpGrant?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocument


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Amount of Additional CPF Housing Grant (AHG)

The amount of AHG you will be eligible for is graded based on your averagegross monthly household income as follows:

Average Monthly

Gross Household

Income*

AHG prior to 6 Feb

2009**

AHG with effect from

6 Feb 2009**

$1,500 or less $30,000 $40,000

$1,501 - $2,000 $25,000 $35,000

$2,001 - $2,500 $20,000 $30,000

$2,501 - $3,000 $15,000 $25,000

$3,001 - $3,500 $10,000 $20,000

$3,501 - $4,000 $5,000 $15,000


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Housing Grant for Singles

Eligibility Conditions :


Citizenship You are a Singapore Citizen (SC).

Age At least 35 years old if you are single andapplying for resale flat under any of the following

schemes:

Single Singapore Citizen Scheme

Joint Singles Scheme

Orphans SchemePublic Scheme (if parents are included in the

resale application as co-applicants or occupants)

Non-Citizen Family Scheme

OR

Source from HDB
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatSingleScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatJointSingleScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatOrphansScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatPublicScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatNonCitizenFamilyScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatNonCitizenFamilyScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatPublicScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatOrphansScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatJointSingleScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatSingleScheme?OpenDocument


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2011.

Special Conditions For the Higher-Tier Singles Grant, the parents* must

be included in the application as the co-applicants or

occupants.

*At least one of the parents must be a Singapore

Permanent Resident or Singapore Citizen.

Ownership/Interest

in Property

You(applicant), co-applicants and all persons listed in

the application for purchase of the flat must not

Own any of the following (local or overseas

properties) or have disposed of one within 30

months prior to the application:

- Private residential property (including HUDC flat,

Executive Condominium)

- House

- Building

- Land
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantSingles?OpenDocument#amounthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantSingles?OpenDocument#amount


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Top-Up Grant to the Family Grant

The CPF Housing Top-Up Grant Scheme is a housing subsidy for those whohave taken a CPF Housing Grant for Singles previously in their purchase of aresale flat

who subsequently marry a first-timer citizen spouse or anotherSingles Grant recipient; or

whose non-citizen spouse or child have become a SingaporeCitizen or Singapore Permanent Resident (applicable for those who havebought a resale flat under the Non-citizen Spouse Scheme).

They can apply for the Top-Up Grant for their existing flat or when they buyanother resale flat, if they meet the listed eligibility criteria.

The grant is only given to Singapore Citizen spouse (not Singapore

Permanent Resident spouse) who is listed as an owner or applicant of theflat.

Eligibility Conditions:

Category Detailed Description


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have not enjoyed any housing subsidy before) or

another Singles Grant recipient

ORFor Singapore Citizens who had bought resale flats

under the Non-citizen Spouse Scheme and obtained

Singles Grant

You are married to a non-SC or non-SPR on or after

08 Mar 2005, and:

Your spouse or child(ren) later obtain SC or

SPR status, or

You and your spouse later give birth to an SC

or SPR child(ren)

Your application for the CPF Housing Top-Up Grant

must be submitted to the HDB within 6 months after

the spouse or child obtains Citizenship or Permanent

Resident status.

Average Must be $10,000 and below.


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Buy a 1-room flat or a resale flat (of any flat

type) that has been announced for redevelopment

under the Selective Enbloc Redevelopment Scheme(SERS).

Amount of prevailing Family Grant:

Family Grant Family Grant (Living Near

Parents/Married Children)

SC / SC

Household

SC / SPR

Household

SC / SC

Household

SC / SPR

Household

$30,000 $20,000#

$40,000 $30,000#

#If you are from an SC/SPR household, you can enjoy the full housingsubsidy by applying for the Citizen Top-Up when your SPR spouse takes upSingapore Citizenship or when you have an SC child.
http://www.hdb.gov.sg/fi10/fi10329p.nsf/w/eSERSInProgress?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10329p.nsf/w/eSERSInProgress?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10329p.nsf/w/eSERSInProgress?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10329p.nsf/w/eSERSInProgress?OpenDocument


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Use of Grant

The CPF Housing Grant will be credited into your CPF OrdinaryAccount and treated as part of your CPF fund. It can be used to pay forthe CPF portion of the down-payment at the time of signing of the Salesand Purchase Agreement after you have paid the cash payment (ifapplicable) or to reduce the mortgage loan.The CPF Housing Grant will be included in the computation of the CPF

withdrawal limit.

Conditions to comply with after getting the CPF housing grant

How it will impact you

SC/SPR Household getting Family Grant

If you are from an SC/SPR household, you can enjoy the full housing subsidyby applying for the Citizen Top-Up when your SPR family member takes upSingapore Citizenship or when you have a SC child.

Minimum Occupation Period (MOP)


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Resale Levy

Resale Levy is payable when you buy or take over the ownership of anothersubsidised flat. Read more on the Resale Levy and charges.

Refund of CPF Money

When you sell the flat bought with CPF Housing Grant, all the CPF money youspent (including the housing grant) will be returned to your CPF account

according to the CPF Boards rules and regulations.Disposal of Existing Flat

You have to dispose of your flat within six months of the date of taking

possession of the resale flat.

How it will impact your Parents/Married Child

If you are applying for a higher-tier grant, i.e. your flat is near yourparents'/married child's home, during the 5-year occupation period*, yourparents/married children must remain:

In the existing town, or
http://www.hdb.gov.sg/fi10/fi10322p.nsf/w/SellFlatResaleLevy?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10322p.nsf/w/SellFlatResaleLevy?OpenDocument


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HDB RESALE BUYERS FINANCIAL PLAN

HDB Loan

Resale Price

HDB Valuation

COV (CASH ONLY)


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HDB RESALE BUYERS FINANCIAL PLAN

Bank Loan

Resale Price

HDB Valuation

COV (CASH ONLY)


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Page | 49

HDB LOAN - BUYERS FINANCIAL PLANNING

Purchase Price above Valuation Purchase Price Below Valuation Purchase Price at Valuation

10% = $32,000(CPF Down payment) +2% Purchase Price($6,400)

(Legal + Stamp)Total CPF required =$38,400

$300,000(HDB Valuation)

$320,000(Purchase Price) $420,000(HDB Valuation)

$400,000(Purchase Price)

COV =$20,000

10% = $30,000(CPF Down payment) +2% Purchase Price ($6,400)(Legal + Stamp)

Total CPF required = $36,400

90% Loan = $270,000

COV =

10% = $40,000(CPF Down payment) +3% Purchase Price($12,600)

90% Loan = $360,000

< 100%

90% Loan = $288,000

< 100%< 100%

Note: e.g If HLEapprove is onlyS$250,000Buyer have to top up

S$20,000 CPF or Cash

Note: e.g If HLE approve is onlyS$165,000

Buyer have to top up S$195,000CPF or Cash

Note: e.g If HLE approve is onlyS$165,000

Buyer have to top up S$123,000 CPFor Cash

$320,000(Purchase Price)(HDB Valuation)

Estimated SF/LF :Purchase Price $360K : 3%


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Page | 50

EXAMPLE 1 : HDB LOAN - BUYERS FINANCIAL PLANNING

Step 1: Cash

Purchase Price : $ 350,000

HDB valuation : - $ 280,000Cash 1 : $ 70,000

Step 2: CPF

CPF Ordinary AC Available $ 40,000

10% of VAL / PP (whichever lower) : - $ 28,000

2% of PP (Legal + Stamp Duty) : - $ 7,000

CPF Surplus / CPF Shortfall ( Cash 2 )) $ 5,000

Step 3: Loan90% of VAL / PP (whichever lower) : $ 252,000CPF Surplus : - $ 5,000Loan needed : $ 247,000Loan Qualified : $ 293,000Cash 3 $ NIL .

SUMMARY:

1. Total Cash Required( Cash 1 + Cash 2 + Cash 3 )

: $ 70,000

2. Loan needed, Tenure ( ), Int. ( ) : $ 247,000

3. Monthly Installment : $ 1,012

4. 1% Agent commission (+ 7% GST) : $ 3,745


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Page | 51

EXAMPLE 1 : BANK LOAN - BUYERS FINANCIAL PLANNING

Step 2: CPF

CPF Ordinary AC Available $ 40,00015% of VAL / PP (whichever lower) : - $ 42,0002% of PP (Legal + Stamp Duty) : - $ 7,000CPF Surplus / CPF Shortfall ( Cash 2) $ 9,000

Step 3: Loan

80% of VAL / PP (whichever lower) : $ 224,000

CPF Surplus : - $ 0

Loan needed : $ 224,000

Loan Qualified : $ 300,000

Cash 3 $ NIL .

Step 1: Cash

Cash-Over-Valuation : $ 70,0005% Minimum Cash Payment :+ $ 14,000Cash 1 $ 84,000

SUMMARY:


: $ 93,000

2. Loan needed, Tenure ( ), Int. ( ) : $ 224,000

3. Monthly Installment : $ 940

4. 1% Agent commission (+ 7% GST) : $ 3,745


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CASE SCENARIO : Buy 1st Sell Later

Flat type Exec - Apt

Purchase Price $495,000

Market Valuation $450,000

Applicant (Husband) age, last birthday 44 yrs old

l d & i i l l f ild ild i d


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Page | 53


Step 1: Cash

Purchase Price : $

HDB valuation : - $

Cash 1 : $

Step 2: CPF

CPF Ordinary AC Available $

10% of VAL / PP (whichever lower) : - $

2% of PP (Legal + Stamp Duty) : - $

CPF Surplus / CPF Shortfall ( Cash 2 )) $

Step 3: Loan90% of VAL / PP (whichever lower) : $

CPF Surplus : - $

Loan needed : $

Loan Qualified : $

Cash 3 $ .

SUMMARY:


: $

2. Loan needed, Tenure ( ), Int. ( ) : $

3. Monthly Installment : $

4. 1% Agent commission (+ 7% GST) : $


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Discuss in your group, the individual answers that youhave and get one representative to present the correctanswer and list out the mistakes that were made.


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CASE SCENARIO : Flat sold already. Completion in 1 mthsTime

Flat type 5A



Applicant (Husband) age, last birthday 46 yrs old

HDB Resale Proced re & Financial Plan Propert of Wild Wild West Properties Pte Ltd


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Page | 56

BANK LOAN - BUYERS FINANCIAL PLANNING

Step 1: Cash

Cash-Over-Valuation : $

5% Minimum Cash Payment : - $

Cash 1 : $

Step 2: CPF





Step 3: Loan

90% of VAL / PP (whichever lower) : $CPF Surplus : - $

Loan needed : $

Loan Qualified : $

Cash 3 $ .

SUMMARY:


: $

2. Loan needed, Tenure ( ), Int. ( ) : $3. Monthly Installment : $



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CASE SCENARIO : Sell 1st Buy Later

Flat type 4A





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Page | 58


Step 1: Cash

Purchase Price : $

HDB valuation : - $

Cash 1 : $

Step 2: CPF





Step 3: Loan

90% of VAL / PP (whichever lower) : $

CPF Surplus : - $

Loan needed : $

Loan Qualified : $

Cash 3 $ .

SUMMARY:


: $






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Page | 59

BANK LOAN - BUYERS FINANCIAL PLANNING

Step 1: Cash

Cash-Over-Valuation : $

5% Minimum Cash Payment : - $

Cash 1 : $

Step 2: CPF





Step 3: Loan

80% of VAL / PP (whichever lower) : $

CPF Surplus : - $Loan needed : $

Loan Qualified : $

Cash 3 $ .

SUMMARY:


: $





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Annexes Pages

Sample of valuation report 61 - 66

Husbands CPF withdrawal statement 67 - 69

Wifes CPF withdrawal statement 70

Factors for Computation on Monthly Installment 71

Estimated Date of Completion for Resale of Flat 72

Loan Quantum Table for Purchase of HDB Flats 73 - 74

Bank Loan Table 75

Latest updates If Any


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Page | 73

Source from HDB



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Page | 74

Source from HDB



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Source from HDB