hi folks,
My technician asked me for some help today, and I realize that I'm a bit clueless about this issue!
He's been recently divorced, and the court ruling was for him to sell the matrimonial home (3room HDB flat) on the open market.
However, for him to sell the flat and then buy another for himself would be very costly, in terms of cash upfront etc...
His preferred option would be to buy over his ex-wife's share of the flat. This is agreeable with her.
Thus an application letter was written to HDB, and they replied with a rather lengthy and technical letter, mentioning some documents like Option to Purchase (OTP) and some banking stuff.
Just wondering if there is anyone out there who has gone through this procedure, perhaps in a professional context (estate agent, solicitor, etc).
How should he proceed from here?
Your advice is appreciated.
My technician asked me for some help today, and I realize that I'm a bit clueless about this issue!
He's been recently divorced, and the court ruling was for him to sell the matrimonial home (3room HDB flat) on the open market.
However, for him to sell the flat and then buy another for himself would be very costly, in terms of cash upfront etc...
His preferred option would be to buy over his ex-wife's share of the flat. This is agreeable with her.
Thus an application letter was written to HDB, and they replied with a rather lengthy and technical letter, mentioning some documents like Option to Purchase (OTP) and some banking stuff.
Just wondering if there is anyone out there who has gone through this procedure, perhaps in a professional context (estate agent, solicitor, etc).
How should he proceed from here?
Your advice is appreciated.