Free advice/discussion on buy/sell of Resale flat (Part 5)

therat

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Hi Vinz

I'm looking at buying a resale flat. Can you advise what are the stuff that we as a buyer should look out for related to the condition of the flat.

Example: Whether the aircon racking is done according to HDB regulation and whether the window ledge are upgrade to what HDB requires?

Regards

HDB officer will check these..
if it is not according to HDB regulation, the seller need to do it according to HDB regulator before can sell to u.

so.. don't worry
 

u7512924

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HDB officer will check these..
if it is not according to HDB regulation, the seller need to do it according to HDB regulator before can sell to u.

so.. don't worry


Thanks!:)

Btw, anyone knows how many days it would take for the valuation report to be out after the HDB valuator comes to "price" the flat??
 

vinz

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Hi Vinz

I'm looking at buying a resale flat. Can you advise what are the stuff that we as a buyer should look out for related to the condition of the flat.

Example: Whether the aircon racking is done according to HDB regulation and whether the window ledge are upgrade to what HDB requires?
HDB will send someone down after you and seller had sign the contract and request for 1st appt. The officer will check that everything is proper (window rivets etc) and that there is no un-authorised reno done accordingly to the reno plan which was submitted to HDB when the existing owner done their renovation few yrs back
Btw, anyone knows how many days it would take for the valuation report to be out after the HDB valuator comes to "price" the flat??
max 2weeks, or 10working days. usually around 5days later the report will already "arrive" at the mailbox.

vinz
 

u7512924

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HDB will send someone down after you and seller had sign the contract and request for 1st appt. The officer will check that everything is proper (window rivets etc) and that there is no un-authorised reno done accordingly to the reno plan which was submitted to HDB when the existing owner done their renovation few yrs backmax 2weeks, or 10working days. usually around 5days later the report will already "arrive" at the mailbox.

vinz


Thanks for clearing the air for me. Sorry for being so nagging bt this leads me to another question. If HDB found something against the regulation, the liability is still on the seller or HDB leaves it to both buyer and seller to solve the issue between themselves? :s22:

Thanks
 

vinz

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Thanks for clearing the air for me. Sorry for being so nagging bt this leads me to another question. If HDB found something against the regulation, the liability is still on the seller or HDB leaves it to both buyer and seller to solve the issue between themselves? :s22:

Thanks
Seller will have to retify, then HDB officer come again to check and approve before can proceed for 1st appt. What are the things you are scared of actually, because not many people ask this question actually, 99% of the time most things are ok.
 

u7512924

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Seller will have to retify, then HDB officer come again to check and approve before can proceed for 1st appt. What are the things you are scared of actually, because not many people ask this question actually, 99% of the time most things are ok.


I juz want to make sure that as a buyer, I am covered. I don't like the idea that in an event that there is some dispute, the relationship between both parties turns sour. Must be happy to sell and happy to buy.:s13: Thanks Vinz
 

jerrigan

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Hi Vinz,

Got some questions about HDB procedure.

My friend complained that their agent (only one for seller n buyer) submitted Resale Application to HDB without mutual agreement. The result was a 1st appt in favor of seller.
Can my friend withdraw the Resale application without breaching the OTP contract? Then negotiate with seller for the 1st appt date again?

12 CANCELLATION OF RESALE BY SELLER/BUYER

Before First Appointment

12.1 A resale application may be withdrawn by the seller or buyer at any time before the First Appointment upon notice in writing by either party to HDB.


The agent is showing conflict of interest (favor the seller). How to complain about this agent?


Thanks
 

tang_tang

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This thread seems to be quiet nowadays. When i look though the straits times this few weeks like not much ppl are selling their houses. Seems like all those flat that can sell are all sold out.
 

beanie4ever

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Can advise on the price of a 5 room resale flat in any of the 3 locations:
ang mo kio, woodlands and serangoon north.
Thank you.
 

vinz

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My friend complained that their agent (only one for seller n buyer) submitted Resale Application to HDB without mutual agreement. The result was a 1st appt in favor of seller.
Can my friend withdraw the Resale application without breaching the OTP contract? Then negotiate with seller for the 1st appt date again?

12 CANCELLATION OF RESALE BY SELLER/BUYER

Before First Appointment
12.1 A resale application may be withdrawn by the seller or buyer at any time before the First Appointment upon notice in writing by either party to HDB.

The agent is showing conflict of interest (favor the seller). How to complain about this agent?
How does your friend prove the 1st appt is in favour of the seller?
Please ask your friend to negotiate with the seller directly before they cancel any thing.

In HDB's eyes, the 1st appt had been fixed, any changes must be approved in writing by both parties. If one party seek to change or cancel the date without the approval of the other, then the one who is not agreeable of the changes reserve the right to sue the other party for any damages incurred.

Complain to the agent's agency (company). write in to their boss, though I believe it wont be much use.
 

vinz

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Can advise on the price of a 5 room resale flat in any of the 3 locations:
ang mo kio, woodlands and serangoon north.
Thank you.

Ang Mo Kio: 430k to 600k++
Woodlands : 290 to 400k++
Serangoon North : 350 to 420k++

Your question is way too general.
You can do your own search at HDB Resale Transactions
 

lambert

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now i am looking at flats with my gf... trying to find out if our budget is realistic or not..
Hoping to get the either the 40K grant for staying near parents (tampines or Sims drive) OR THE 30k GRANT (1st time buyer)

Our budget flat is $320K
We are looking for a 4-rm or 5 rm flats in the east (between sim drive/aljunied to Tampines) + 8th storey and above.

Is this amount realistic for either new or 2nd hand flats??
 

juice14

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now i am looking at flats with my gf... trying to find out if our budget is realistic or not..
Hoping to get the either the 40K grant for staying near parents (tampines or Sims drive) OR THE 30k GRANT (1st time buyer)

Our budget flat is $320K
We are looking for a 4-rm or 5 rm flats in the east (between sim drive/aljunied to Tampines) + 8th storey and above.

Is this amount realistic for either new or 2nd hand flats??

Budget can follow the hyperlink in vinz's post below directly. You can get your answer from the gift horse's mouth :)
 

ronnlim

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hi

hi vinz

if i got the hdb HLE letter approved loan amount at $240k, can i loan another 2nd 240k bank loan to apply for one same flat if it priced at 480k


thks
ron
 

vinz

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hi vinz

if i got the hdb HLE letter approved loan amount at $240k, can i loan another 2nd 240k bank loan to apply for one same flat if it priced at 480k


thks
ron
NO !

Please be realistic. You are trying to loan twice as much?

Meaning 80% of your gross pay is used to pay your housing loan?

Are you sure you did a proper financial calculation on your part?
 

vinz

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now i am looking at flats with my gf... trying to find out if our budget is realistic or not..
Hoping to get the either the 40K grant for staying near parents (tampines or Sims drive) OR THE 30k GRANT (1st time buyer)

Our budget flat is $320K
We are looking for a 4-rm or 5 rm flats in the east (between sim drive/aljunied to Tampines) + 8th storey and above.

Is this amount realistic for either new or 2nd hand flats??
http://www.hdb.gov.sg/bb33/ispm051p.nsf/Search

Do a search at the HDB website and see what prices the resale flat had been sold for.
Narrow down the estate you are keen on. Cant be interested in almost the whole EAST SIDE of singapore right?

Should be able to get 4rm which is not near the town centre.
5rm prices is slightly beyond your reach for tampines area.
 

therat

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hi vinz

if i got the hdb HLE letter approved loan amount at $240k, can i loan another 2nd 240k bank loan to apply for one same flat if it priced at 480k


thks
ron


very good method to get urself kill faster.

Did u do your sum?
 

ronnlim

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hi

hi all

thks for advice

check with u guys , if i own a resale flat not bought under any housing grant
this resale flat is under my name and mum

am i considered as first timer with my wife ?if i apply for the
NEWFLAT UNDER THE HALF-YEARLY SALE OF 3-ROOM PREMIUM,
4-ROOM AND BIGGER FLATS
.

first time applying for NEW HDB flat.
 

skilled

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say,

if i sell my 4rm now which is fully paid in cash previously.

can i get back the amt? assuming that i do not apply for any flat in my name.
 

therat

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say,

if i sell my 4rm now which is fully paid in cash previously.

can i get back the amt? assuming that i do not apply for any flat in my name.

ur 4rm flat brought at price A
then sell at price B

u will get back B - A = C

:D
 
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