Everything You Need to Know On Buying Resale HDB On Your Own. HFE, Finances, Temporary Extension.

Recently i helped one of my clients purchase the HDB that she wanted. Today i want to share with you how all of this is done.
To discuss more about property related details in Singapore, do drop me a whatsapp text at [phone]. Else click on this link to whatsapp me: bit.ly/wa-caleb

[@daxteoh27]

thanks for sharing, very insightful!

[@hamsinnashrudin]

Is this process the same or seamless as well for selling+buying?

[@yongkuannn]

Good sharing. Can I check whether the housing grant can be used to fully pay the downpayment?
And must the grant be fully utilised? Lets say I plan to use more cash and the grant will keep inside OA instead.

[@yongkuannn]

Mainly because in HDB website it states that upon sale of HDB, 60k grant will place in OA and the rest in other accounts. So I wonder whether the grant can be not returned to Partner A since Partner A uses cash for downpayment and mortgage and Partner B uses CPF which comes with the grants.
www.hdb.gov.sg/about-us/news-and-publications/publications/hdbspeaks/Flat-Buyers-Keep-the-Housing-Grants-Given-to-Them#:~:text=No%2C%20you%20do%20not%20return,a%20new%20or%20resale%20flat

[@CalebSeah]

grants go into your cpf oa.
if use hdb loan, all your cpf oa will be wipe out. U can leave max 20k in your oa each.
If use bank loan, they will require you to use all the grants available, then can choose how much to use in your CPF OA.
But regardless minimum 5% cash needed for Bank Loan.

[@CalebSeah]

whatever OA and grants you use will be returned to respective original contributor of it when you sell.
So at the end when you sell,
Sale price - Outstanding Loan - CPF Refund - CPF Accrued Interest = CASH
These CPF Refund and Accrued interest includes the grants given.
Hence i would suggest to separate out the CPF component and calculate cash separately when calculating contribution.

[@yongkuannn]

@@CalebSeah thanks for replying. I saw there this HDB posts where not all the grants guess into the OA if you are given more than 30k grant each. Does this mean if I have 70k grant from resale grant for 4RM + SG/PR couple and proximity grant (20k), only 30k goes to OA and 15k goes to the rest?
www.hdb.gov.sg/about-us/news-and-publications/publications/hdbspeaks/Flat-Buyers-Keep-the-Housing-Grants-Given-to-Them#:~:text=No%2C%20you%20do%20not%20return,a%20new%20or%20resale%20flat

[@yongkuannn]

@@CalebSeah Can check for the grants, it will only return 30k to the contributor's OA and the rest to MA/SA/RA?
What if not all the grants are used in the process through HDB loan? Like example 25k out of the 45k given? Only 25k to the OA after sale?