forgotten 1 Report post Posted October 18, 2009 Hi, My hubby and I are renting a small room now. Yes we are currently homeless We managed to obtain BTO flat and paid 5% deposit for it in Jan this year. Are we allowed to buy a resales flat while waiting for bto flat to be completed in 4 years? In Jan, a HDB officer said we could buy a resale flat but we had to sell it away within 6months of getting bto flat's keys. Now we have found a suitable resales flat unit. Some agents said it was allowed. Some agents and a forum said that we would be forced to give up our BTO flat and deposit. We are very confused now! Have anyone bought a resales flat while waiting for your bto flat? We will go down to hdb to enquire but we are worried that different HDB officers will give us different answers tomorrow sigh. We don't want to waste our 5K option fees if resales app gets rejected. Share this post Link to post Share on other sites
JustMortgage 0 Report post Posted October 18, 2009 Hi, My hubby and I are renting a small room now. Yes we are currently homeless We managed to obtain BTO flat and paid 5% deposit for it in Jan this year. Are we allowed to buy a resales flat while waiting for bto flat to be completed in 4 years? In Jan, a HDB officer said we could buy a resale flat but we had to sell it away within 6months of getting bto flat's keys. Now we have found a suitable resales flat unit. Some agents said it was allowed. Some agents and a forum said that we would be forced to give up our BTO flat and deposit. We are very confused now! Have anyone bought a resales flat while waiting for your bto flat? We will go down to hdb to enquire but we are worried that different HDB officers will give us different answers tomorrow sigh. We don't want to waste our 5K option fees if resales app gets rejected. HDB officers will definately be the best people to give you the appropriate advice. The only potential pitfall we see is that regulations might change. So you might want to talk to the HDB officer to give you a written approval plus enquire that in the event that the regulation change in the meanwhile, would that impact you. Good Luck. Share this post Link to post Share on other sites
forgotten 1 Report post Posted October 19, 2009 Hdb officer said we can do that if we do not take up any grant or hdb loan. Phew... Share this post Link to post Share on other sites
JustMortgage 0 Report post Posted October 19, 2009 Hdb officer said we can do that if we do not take up any grant or hdb loan. Phew... Do not take up grant or hdb loan for the resale flat or for the BTO flat? Share this post Link to post Share on other sites
forgotten 1 Report post Posted October 19, 2009 Do not take up grant or hdb loan for the resale flat or for the BTO flat? It means the couple cannot take up any grant and HDB loan for the resales unit. Share this post Link to post Share on other sites
JustMortgage 0 Report post Posted October 19, 2009 It means the couple cannot take up any grant and HDB loan for the resales unit. Thanks. At least when clients are in the same position in the future, we'll know. Congratulations! You can look for a place now. =) Share this post Link to post Share on other sites
forgotten 1 Report post Posted October 20, 2009 Thanks. At least when clients are in the same position in the future, we'll know. Congratulations! You can look for a place now. =) Agents are unsure about this scenario. Some told me 'can', some told me ' cannot'. I don't blame them, as HDB has too many rules to figure out hehe! I am also blur myself. Therefore I posted the HDB's reply here so that other people in similar situation as me know the constraints. Thanks for your well wishes. Hope property market don't crash in 3 years time when I sell my resales unit off LOL. Share this post Link to post Share on other sites
JustMortgage 0 Report post Posted October 20, 2009 Agents are unsure about this scenario. Some told me 'can', some told me ' cannot'. I don't blame them, as HDB has too many rules to figure out hehe! I am also blur myself. Therefore I posted the HDB's reply here so that other people in similar situation as me know the constraints. Thanks for your well wishes. Hope property market don't crash in 3 years time when I sell my resales unit off LOL. LOL. For your sake, we hope so too. For our sake, we hope that the property market is stable so we can at least make a living. Share this post Link to post Share on other sites
Guest Goobii Report post Posted October 20, 2009 give up BTO flat and deposit. Share this post Link to post Share on other sites
forgotten 1 Report post Posted November 14, 2009 (edited) You can buy resale as long as you dont get any grant from HDB. Yes, and no HDB loan. Edited November 14, 2009 by forgotten Share this post Link to post Share on other sites
forgotten 1 Report post Posted November 14, 2009 (edited) give up BTO flat and deposit. Give up? The deposit is about 15K leh. Edited November 14, 2009 by forgotten Share this post Link to post Share on other sites
