www.sgecondo.com

Singapore Executive Condo

                  

 
  Gateway to E Home                 
 

Frequent Asked Questions on Executive Condominium

 

Section A: Eligibility FAQs

  1.    I am a Singaporean, 35, can I buy a new build HDB BTO, DBSS or EC alone?

If you are age 35 and above, you can buy any HDB resale flat.  However for new flat (direct purchase) from HDB,

* You can only buy a new 2 Rm BTO in a non-mature estate alone. Your average household income shall not exceed $5000/mth. You can check HDB website on the eligibility conditions to purchase  

* There is no single scheme for DBSS  

* There is also no single scheme for EC.  However, you can buy an EC under the Joint Singles scheme with another single, also age 35 and above.

 

2.     I am a local, 33, can I purchase a new EC with either my father or mother?   

 

If you are below 35 years of age, you need to form a valid family nucleus in order to buy an EC. 

 

You can purchase an EC with both your parents listed as joint applicants or as essential occupiers of the flat.  You can purchase an EC with either your father or mother if they are legally separated (divorce or death of one partner). 

 

Whether your parent(s) is listed as applicants or essential occupiers, the same home ownership rules applies to them. i.e 

-  If your parent(s) have an interest in another existing HDB flat, they must sell their existing flat within 6 months of TOP.   

-       If your parent(s) have an interest in a private property, they must dispose the private property and wait for a period of 30 months before they can apply for a EC jointly with you. 

 

 

3.     I am a SC and my partner is applying for his/her SPR.   Do we have to wait 3 years before we can apply for an EC?  If not, how soon we can put in our application? 

 

SC/SPR household is treated as a citizen household and you do not have to wait 3 years before applying for an EC unit. 

 

The earliest you can put in your application to purchase an EC is when your partner received the SPR approval notification letter that has the ‘blue’ IC number stated. 

 

 

4.     I have a commercial property under my name.  Can we still apply for EC? 

You will need to submit an appeal together with the application and additional processing fees.  The application will be subjected to HDB approval and the success rate is dependent of the number of commercial properties owned and whether it is for own use or rental income.   

 

5.     We currently own a HDB flat bought from the resale market.   Are we eligible to apply an EC whose estimated TOP will fall after our MOP? 

If you have not bought a flat directly from HDB before, it will depend on whether CPF housing grant was taken for the purchase of resale flat. 

If yes, you have to wait till your MOP is met before you can apply for an EC. 

If no CPF housing grant was taken for the purchase of HDB resale flat, you can apply for an EC whose estimated TOP will fall after your MOP period.  

 

6.    My MOP is a few more months from now; I am afraid my choice unit will be sold by the time MOP is met and/or my household income will exceed the income ceiling in the forthcoming salary adjustment, can we book an EC unit before MOP?  

The decision to accept your booking ahead of MOP lies with the developer. Different developer may have different acceptance timeline. Some will not accept any booking before MOP, some will accept x weeks ahead of MOP while other may accept x months ahead. 

An appeal letter needs to drafted by the applicants and be submitted to the developer.  The acceptance by the developer does not constitute a firm booking; the final acceptance is still by HDB.   

In the event the appeal is rejected by HDB, the booking fees will be refunded in full and the applicants will have to re-submit a fresh application when their MOP has been met.  The bright side to that is the developer may be able to reserve your choice unit till your MOP is met.  

If your adjusted salary exceeds the ceiling when the MOP is met, a fresh appeal together with the application will need to be submitted to the developer and HDB for acceptance and approval. (See Qn A.5)

 

7.     My household income exceeded the income ceiling marginally, can we still apply for an EC? What is the success rate?

An appeal will need to be drafted as long as you exceeded the ceiling income, even by the smallest amount of $1.  Again, all appeal will be subjected to the acceptance by developer first and subsequently the final approval by HDB.   Check with the serving agent first whether developer will accept your application before investing time and effort visiting the showflat.  

The success rate will be dependent on the strength of the reasons stated in the appeal letter.  In general, the success rate is pretty high for applicants with average excess less than $500 above the ceiling cap.   

 

8.    Our total household income is about $11,000. Our eldest child will start working soon. Will our child’s income (est. $3,500) be included in the total household income computation? Will that disqualify us to purchase a new EC?

The household income is computed based on the valid family nucleus income.  

If both of you are listed as main applicants, the valid family nucleus has been met.  Both your income will be treated as total household income and you are eligible to purchase an EC under this scenario.

If your child is listed as the main applicant and both of you will need to be listed as essential occupiers to from the family nucleus.  In this scenario, your child income plus both your income will be the household income and you will be disqualified to apply for a new EC.

 

9.     I have joint ownership of a private condo with my child.  My child is getting married soon and if his/her name is taken out from joint ownership of this private condo, does he/she still need to wait for 30 months before he can apply for a new EC? 

Yes, your child will need to wait for 30 months before he/she can apply for an EC  

The other point to consider is finances. If your child CPF monies has been used to pay for private condo, do you have enough resources to pay back his/her CPF amount plus accrued interest?

It is these reasons that parents and child should weigh the pros and cons carefully before putting a private property under joint ownership. 

 

10.  In what situation will HDB reject application for new EC beside the prevaling housing income ceiling? 

If applicants meet all the eligibility criteria, HDB is not likely to reject the application. Most rejections are on untruthful declaration by applicants and rejection of appeal cases on income ceiling and MOP.   

 

 

Back: Home                                                               Next     FAQs Finances                     Next : Gallery/News

 

 

 

 

 

 

 

 

 

 

 Testimonial

"Thank you for patiently taking your time to show us the mock-up flats, explaining the orientation of the scale models and providing us with valuable insights into the project and financing options.

Both myself and my wife really appreciate your effort."

 -- Hairul
 

"Among the agents I have come across so far, you are one of those few whom I feel at ease and comfortable speaking to. This is my frank and sincere opinion.   You truly live up to your words “Honesty and Integrity”

-- Chee Kin

"Thanks for your very kind and helpful adivce.  The testimonials were very true indeed. Another agent from xxxx is trying to make me appoint him as sole agent for EC, but did nothing much to advise like you did.  I really appreciate it"

-- J Ong

From a satisfied client who was referred by his friend. 
Read full transcript

"He gave us good advice based on our requirements. ....
He paid details to every single stage of the process and returned all phone calls, texts and emails the same day.  We never felt neglected or unimportant."

-- Sean Lee

 

 

 

  

 

  

 

Take the first step in buying an EC
Register your interest and/or enquiry below or Call/Sms 91861688