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Free advice/discussion on buy/sell of Resale flat (Part 6)

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Old 04-09-2017, 06:48 PM   #5191
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Just managed to get my 1st appt on 1st Nov last week for the purchase of 5 RM flat. However was just told to leave the company today.


What will happen if I can't get a job by the 1st appt?
If I managed to find similar pay job by this month, will there be any implication?

My hle was done a month back, with me providing 2/3 of the monthly pay (2 jobs) and my wife providing the remaining 1/3
It's ok. I was unemployed on the 2nd appt. They didn't check any employment relevance documents at this point. All checks would have have been done at the 1st appt.
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Old 04-09-2017, 07:20 PM   #5192
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It's ok. I was unemployed on the 2nd appt. They didn't check any employment relevance documents at this point. All checks would have have been done at the 1st appt.
Problem is on 1 Nov is my first appt. Not second. Damn Sian to kena this.
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Old 04-09-2017, 07:46 PM   #5193
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They may ask u to declare income on 1st Nov.

And they can easily see your cpf no input for this few mths prior to Nov.

Hopefully get a job ASAP.

Or count how much loan u need, then get a temp job which can actually loan u that amount based on the the new salary.

Hopefully your spouse is working.
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Old 04-09-2017, 07:52 PM   #5194
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They may ask u to declare income on 1st Nov.

And they can easily see your cpf no input for this few mths prior to Nov.

Hopefully get a job ASAP.

Or count how much loan u need, then get a temp job which can actually loan u that amount based on the the new salary.

Hopefully your spouse is working.
The job I just got fired from is 3k per mth, I'm still holding on to another part time work that pay 1k. Spouse is working but only draw 2k per mth. Will definitely try to get back a job that pay the same.
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Old 04-09-2017, 11:34 PM   #5195
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Blk 516 Choa Chu Kang st 51, 4A for sale
Direct from owner, no agent fees.
104 sqm, spacious with no odd shape.
Door & living room facing North.
Mins to MRT, near Limbang Shopping Center, NTUC & McD.
Nearby primary and secondary school.
All race and SPR welcome.
Asking S$340,000 (Negotiable)
Pls call Cheng (owner) 97213466 for viewing appointment.
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Old 05-09-2017, 02:16 AM   #5196
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The job I just got fired from is 3k per mth, I'm still holding on to another part time work that pay 1k. Spouse is working but only draw 2k per mth. Will definitely try to get back a job that pay the same.
they have to gv u 1 month notice right, so ur last month w b in early Oct. Most private business dun pay their CPF on time, likely Mayb u CPF for Sep wk they w only contribute maybe end Oct.

Perhaps can try to talk to your boss, explain to them your circumstances, mayb negotiate a pay adjustment so tat they can retain you at least until Nov.

U must b super stress now.
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Old 05-09-2017, 09:28 AM   #5197
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they have to gv u 1 month notice right, so ur last month w b in early Oct. Most private business dun pay their CPF on time, likely Mayb u CPF for Sep wk they w only contribute maybe end Oct.

Perhaps can try to talk to your boss, explain to them your circumstances, mayb negotiate a pay adjustment so tat they can retain you at least until Nov.

U must b super stress now.
No notice, it's a very screwed up company.
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Old 05-09-2017, 12:52 PM   #5198
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they have to gv u 1 month notice right, so ur last month w b in early Oct. Most private business dun pay their CPF on time, likely Mayb u CPF for Sep wk they w only contribute maybe end Oct.

Perhaps can try to talk to your boss, explain to them your circumstances, mayb negotiate a pay adjustment so tat they can retain you at least until Nov.

U must b super stress now.
It is not a rule to give one month notice. And also cannot say most private business don't pay CPF on time. CPF must be paid the following month by 14th or there will be penalty plus interest. Most pay on time except those in financial hardship. If your company used to delay paying CPF, it's time to go.
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Old 05-09-2017, 02:44 PM   #5199
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I managed to spoke to another boss whom I know. He is keen to hire me to replace with one of the staff. Told him I need my start date to be first day of Sept and he's ok with that also. Pay remain the same as my old job.

This case, there won't be any issue right?
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Old 10-09-2017, 12:18 AM   #5200
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The job I just got fired from is 3k per mth, I'm still holding on to another part time work that pay 1k. Spouse is working but only draw 2k per mth. Will definitely try to get back a job that pay the same.
Why were you fired? Companies don't fire people without valid reasons without giving notice. If they fired you without giving notice and without compensation as stated in your contract, you can report to MoM.

Unless you were fired for some gross misconduct or poor performance, then maybe it's time to reevaluate your choice of buying a 5 room resale? You say you are working a 3k gross pay job, and a 1k part time job, not siong meh? You must be struggling already especially if your wife already pulls in 2k gross.

Reevaluate if 5 room is really needed. It's no different from a 4S, same amount of rooms, just smaller, but way way cheaper. Why not forgo the 1k OTP instead? 1k loss now is way better than getting into a mountain of debt that will not disappear and will last a long long long time into the future, servicing that 5 room flat.
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Old 13-09-2017, 08:52 PM   #5201
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If i buy a flat with left 61 or 62 years lease, for example, what would be the implications? I'm 41 yo.
I'm afraid if in the event after MOP i wish to sell, it would be difficult to find buyers. And also afraid that the lease will run down to zero in the long term.
Please advise. Thank you
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Old 13-09-2017, 09:59 PM   #5202
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If i buy a flat with left 61 or 62 years lease, for example, what would be the implications? I'm 41 yo.
I'm afraid if in the event after MOP i wish to sell, it would be difficult to find buyers. And also afraid that the lease will run down to zero in the long term.
Please advise. Thank you
By the time MOP, it's 5x years remaining. CPF and HDB loan usable is limited by the formula (Lease left when buyer turns 55) / (Lease left at point of sale) x (Valuation or Purchase price, whichever is lower).

For simplicity, assuming both buyer same age.

55 Years Remaining :
Buyers must be 25 and above.
25 years - Only able to use 25/55 (45%)
34 years - Only able to use 34/55 (61%)

50 Years Remaining :
Buyers must be 30 and above.
30 years - Only able to use 25/50 (50%)
34 years - Only able to use 29/50 (58%)
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Old 13-09-2017, 10:06 PM   #5203
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If i buy a flat with left 61 or 62 years lease, for example, what would be the implications? I'm 41 yo.
I'm afraid if in the event after MOP i wish to sell, it would be difficult to find buyers.
If you think potentially u may want to sell within the next 5 to 10yrs, dont get such a old flat.

The complication is that the next buyer will not be allow to use their CPF or take a big enough loan to cover the purchase, thus only CASH RICH buyers are able to buy your unit.

And why do you think they will buy your unit then unless it's already announced for SERS (enbloc) or its a super convenient location to them.
And also afraid that the lease will run down to zero in the long term.
Please advise. Thank you
By then you 102 years old already, you sure you can outlive the lease?

Hopefully you can !!

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Old 13-09-2017, 10:09 PM   #5204
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If i buy a flat with left 61 or 62 years lease, for example, what would be the implications? I'm 41 yo.
I'm afraid if in the event after MOP i wish to sell, it would be difficult to find buyers. And also afraid that the lease will run down to zero in the long term.
Please advise. Thank you
why would u be afraid of lease running down to zero...?

you are 41... lease left ard 61 years to go. lease running to zero would be the least worry i have if i were u..
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Old 14-09-2017, 10:59 AM   #5205
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sorry if this has been asked before, but i have just completed my 2nd appt, with the seller staying another 2 months for extension.

utility: they will pay it until they hand over the keys and leave the unit.
so i have not registered with sg power, hdb officer also advised the same

sc&c: they have agreed to pay sc&c until they leave, however hdb officer told me that on paper, buyer is the one to pay, and i am supposed to go to town council and pay as the new property owner.

so my question is, i pay first and claim from seller;
or seller will pay to town council and this is transparent to me until i take over the unit.

anyone have any experience in this situation?

when asked the sellers' agent, he keep on saying dont worry, seller will pay. i just want to know the proper procedure to this.
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