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

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Old 06-10-2008, 12:36 PM   #31
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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
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Old 08-10-2008, 05:09 PM   #32
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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??
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Old 08-10-2008, 05:34 PM   #33
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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
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Old 08-10-2008, 06:12 PM   #34
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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
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Old 08-10-2008, 07:45 PM   #35
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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?
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Old 08-10-2008, 07:50 PM   #36
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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.
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Old 08-10-2008, 08:37 PM   #37
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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?
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Old 11-10-2008, 05:44 PM   #38
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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.
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Old 11-10-2008, 06:04 PM   #39
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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.
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Old 11-10-2008, 11:17 PM   #40
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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

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Old 11-10-2008, 11:19 PM   #41
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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.
ask HDB
They are pay to answer question.
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Old 12-10-2008, 10:34 AM   #42
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ur 4rm flat brought at price A
then sell at price B

u will get back B - A = C

so if i bought @ 40k...i sell at 300k.

i get back about 260k in cash right?

and i dont apply for any flat in my name so i wont get a 80k reduction.

Thanks alot
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Old 12-10-2008, 12:23 PM   #43
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so if i bought @ 40k...i sell at 300k.

i get back about 260k in cash right?

and i dont apply for any flat in my name so i wont get a 80k reduction.

Thanks alot
Assume no outstanding loan amount,
and your initial 40k paid in cash and already paid in full.

When you decide to sell now at 300k, you will get the 300k (full amount) back in cash.
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Old 14-10-2008, 05:19 PM   #44
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Hi Vinz,

i m a noob to buying house so pls bear with my qns...

me n my gf recently looking for flats, wanna stay in amk area cos both parents in amk.... but dun think will have new flats (other than DBSS which is out of budget) and the SERS at teck ghee vista which may b very hard to get.

so probably resale is our only option.

i want to ask, when u buy a resale flat, what does the 20% downpayment mean? is it muz take out cash and pay? i know the cash above valuation is cash terms, but trying to find out what other cash payments r there.

so for example if the flat is valued at 350k but seller wants 370k, we have to fork out 20k cash, but the downpayment 20% of 70k/74k means what?

thanks in advance vinz!
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Old 15-10-2008, 12:18 PM   #45
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i want to ask, when u buy a resale flat, what does the 20% downpayment mean? is it muz take out cash and pay? i know the cash above valuation is cash terms, but trying to find out what other cash payments r there.

so for example if the flat is valued at 350k but seller wants 370k, we have to fork out 20k cash, but the downpayment 20% of 70k/74k means what?

thanks in advance vinz!
The minimum downpayment is 10% and not 20%. Of course if you want to pay up 20% or even 50% it's all up to you, the more downpayment you pay, the less your loan amount.

As from your above,
Valuation: 350k
Cash over valuation (COV): $20k

Downpayment required:

If taking HDB loan 10% of valuation
= 35k (from CPF or cash)

If taking Bank Loan 10% of valuation
= 5% compulsory cash $17.5k + 5% (from CPF or cash) $17.5k = 35k

So if taking bank loan, total cash needed = $20k (COV) + $17.5k = $37.5k
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