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

strength_n_honour

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OIC. It is requirement by HDB that buyer need to have the valuation report to use cpf money.

Our government really know how to make money from peasants.

Then is peasants gonna LLST lor.
Look at the other side of the coin.. when u sell your flat next time... u gain back this 180 bucks (Provided price remains the same and u are not buying another flat).

U think this is a rip off? Wait till u see the stamp fees then u start screaming
 
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therat

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Look at the other side of the coin.. when u sell your flat next time... u gain back this 180 bucks (Provided price remains the same and u are not buying another flat).

U think this is a rip off? Wait till u see the stamp fees then u start screaming


ya very expensive stamp :s13:
best part, u don't even had a report. No hardcopy. NO softcopy. Only money fly away :D
 

Melsolut

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Hi,

My understanding is that usually, buyer/tenant do not need to pay agency commission if they do not Exclusively engage an agency to source for the property. However, it is a common practice for Resale HDB (Public Housing) flat agency representing the seller to charge the buyer for a processing fee. And if the buyer is represented by another agency, the buyer will pay the commission to that agency instead.

What about buying private property? Does that mean I don't need to pay any commission?
 

vinz

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thanks Vinz, but me and the ex-wife bought private property before and still fall withint the 30 months period restriction....think will be able to appeal to HDB based on the fact that the private property proceeds go to the ex-wife?
You can appeal, but do note that all appeals is on a case by case basis. Nobody know how they go about assessing this.

Always prepare for the worst, and pray for the best.

good luck.
 

vinz

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Hi, in your experience, which area has the cheapest resale value?

Thanks
Sorry cant really answer you, prices go up and down.

Resale value as in capital appreciation? or general price? not too sure what you meant.

Jurong west (near NTU) area, the prices there has always been on the low side (those older flats). But with the new mrt, maybe the prices will start to increase..
 

vinz

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My understanding is that usually, buyer/tenant do not need to pay agency commission if they do not Exclusively engage an agency to source for the property.?
Not sure where you got this information from.

So if no exclusive serving a tenant, when an agent show the tenant 10 units and that is when the tenant is willing to commit, the agent still dont get any commission or service fees? (apply to HDB and pte)

However, it is a common practic e for Resale HDB (Public Housing) flat agency representing the seller to charge the buyer for a processing fee. And if the buyer is represented by another agency, the buyer will pay the commission to that agency instead.

What about buying private property? Does that mean I don't need to pay any commission?
As the amount we are talking about is usually 1.5 or 2 times more than a normal HDB flat, the commission for a buyer's agent for a pte housing is usually gotten from the seller's agent. (cobroke) That is why usually a buyer doesnt have to pay comm for buying a pte property.

Of course there will be times where the agent request to be paid by the purchaser etc. (its up to all party to come to an agreement on this). No fixed rules on this issue.
 

rontoh

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Hi Vinz,

Are you able to help me to compute what will be the charges and cost involved and amount of money that I will need to fork out to buy a HDB selling at S$345k? TIA
 

vinz

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Hi Vinz,

Are you able to help me to compute what will be the charges and cost involved and amount of money that I will need to fork out to buy a HDB selling at S$345k? TIA
Do you have a agent helping you to settle your purchase? If yes, then why do you need to ask this question?

Have you committed to the house yet? view the house yet? any agent involved?

I just have to assume many things, if it's not relevant to you, pls change the figure accordingly :

1) you are taking HDB loan.
2) Valuation 330k
3) COV 15k
4) 1st timer near parent grant $40k

Therefore :
Cash needed = COV = 15k CASH
Valuation report = $180
Stamp fees based on 345k = $5,100 CPF or cash
Legal fees (HDB legal) = $300 to $500 CPF
Caveat fees = $200 to $300 cash
Agent fees = 3450 + 241.50 (GST) = $3691.50 cash
Home Insurance = $300 to $500 (each buyer )CPF

For more details, pls use the financial calculator provided by HDB (as below)

Please click : Enquiry On Resale Financial Plan
 

vinz

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Hi,

Any one here intends to sell off their place,
or is looking to purchase a new home? (no Brand new flat please)


Can send me a pte message or email me vinz@hotmail.com

vinz
 

Jo_Lee

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Someone asked this b4 but seems like no answer...i hv a fren who would also like
to know as he is holding 2 part-time jobs..

When i apply HLE online, there's a part called Employment Details. Currently i have 2 employers but i can only enter 1 employer in the form. What should i do? Should i just enter one employer details will do?
 

vinz

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Someone asked this b4 but seems like no answer...i hv a fren who would also like
to know as he is holding 2 part-time jobs..

When i apply HLE online, there's a part called Employment Details. Currently i have 2 employers but i can only enter 1 employer in the form. What should i do? Should i just enter one employer details will do?
Enter the employer detail who is paying you the higher salary.
put the combined income of the two job as the salary Amount.

When you fax in the documents, enclosed both job’s details and pay.

Put a note stating your salary is based on Salary A + Salary B.
Of course please let them know which is Company A and Company B.

If you make their job easier, I dont see why they cant take in two salary combined (for one applicant) as long as its a fixed monthly income.
 
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luoxyz

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buying condo w/o selling HDB

Hi Vinz, appreciate if you should shed some light on this,

I am a PR owned a HDB for more than 3 years. Right now i have only $30k in my cpf. If i buy another condo w/o selling my HDB.

1)
regarding the min sum cash component. will HDB force to me top up my cpf to $53k using cash after i purchase my condo? or it is just that i can not use cpf for housing before my cpf reach $53k again by natural wage cpf contribution.

2)
I understand that i can only stay in my HDB and rent out the condo. but i was recently told by one agent that the rule has been changed. i.e i can stay in the condo and rent out my HDB. Is that true?

The reputation of housing agent would be totally different if all agent could be as professional as half of you. please keep up the good work for hardwarezone forumer. Thx.
 
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therat

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laurenspang

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yewtee7

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Hi vinz,

My situation is that I've applied for BTO Nautilus@Punggol and am waiting for the result end of May. My wife and I are thinking to sell off our resale flat here in Sims Drive because we think it's the right time to sell as we got it for only slightly less than 200k and now the evaluation is around 300k, going stable around this price. It's an old estate and the price will only go down soon we think.

So our concern is: if there is a good flat in the coming half yearly sale, should we go for it without taking any grant as we would still want to move 5 years down the road to Punggol. But then again the BTO might fall through and not being built at all.

We're also considering buying a resale flat again near our parents in the west as a backup plan should the above fails. The upcoming lake project near Lakeside MRT would make reselling the flat easier is what I think. It is also near our budget I think.

We got 2 kids and her old father staying with us, so we should consider 3NG to 4NG as the price range is also around 300k, am I correct? Is this plan ok?

Please give your opinions and views. (or anyone else would want to comment will be appreciated.)

Thanks! :)
 

vinz

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Hi Vinz, appreciate if you should shed some light on this,

I am a PR owned a HDB for more than 3 years. Right now i have only $30k in my cpf. If i buy another condo w/o selling my HDB.

1) regarding the min sum cash component. will HDB force to me top up my cpf to $53k using cash after i purchase my condo? or it is just that i can not use cpf for housing before my cpf reach $53k again by natural wage cpf contribution.
Its the 2nd option which u quoted. Please note the minimum sum of 53k can also include your CPF in retirement account.

2)I understand that i can only stay in my HDB and rent out the condo. but i was recently told by one agent that the rule has been changed. i.e i can stay in the condo and rent out my HDB. Is that true?
Once you have reach your Minimum occupational period, u can officially rent out your HDB flat and stay in a condo.
The reputation of housing agent would be totally different if all agent could be as professional as half of you. please keep up the good work for hardwarezone forumer. Thx.
Thanks, i am not assoicate with hardwarezone , just happen to be a regular in this forum who try to help others with their doubts.
 

vinz

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Hi vinz,

My situation is that I've applied for BTO Nautilus@Punggol and am waiting for the result end of May. My wife and I are thinking to sell off our resale flat here in Sims Drive because we think it's the right time to sell as we got it for only slightly less than 200k and now the evaluation is around 300k, going stable around this price. It's an old estate and the price will only go down soon we think.

So our concern is: if there is a good flat in the coming half yearly sale, should we go for it without taking any grant as we would still want to move 5 years down the road to Punggol. But then again the BTO might fall through and not being built at all.
Please note, any half yearly sale by HDB is deem to be a BRAND NEW FLAT , since you had applied for the Nautilus, I believe you will not be eligible for this half yearly sale of BRAND new flat.

All singaporean is entitled to ONE TIME brand new flat (or one time grant resale flat).

Unless you want to pay a resale levy which is not worth it.
We're also considering buying a resale flat again near our parents in the west as a backup plan should the above fails. The upcoming lake project near Lakeside MRT would make reselling the flat easier is what I think. It is also near our budget I think.

We got 2 kids and her old father staying with us, so we should consider 3NG to 4NG as the price range is also around 300k, am I correct? Is this plan ok?
If you get a resale flat without grant, you should still be eligible for the BTO few yrs down the road.

Wondering why do you want to sell your existing home and shift to another location while waiting for the BTO?
To cash out on this flat? I dont think prices will crashed for Sims Drive as it is a mature estate, with not much NEW HDB flat, so demand will always be there , now or in the future.

For a estimated selling prices of flats in any area in spore,
u can refer to the below website which are the prices of house which had already been sold off recently.

http://www.hdb.gov.sg/bb33/ispm051p.nsf/Search
 
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