Just reach age 35! Need some advise on buying resale HDB from my Parents!

[harbinger255]

really dun think can sell way lower than valuation

HDB will investigate

Investigate for what????

 

[Apex01]

Parent how old? Once monies from HDB goes back into CPF it be transferred into retirement account le.

Where got CPF monies to buy another HDB.

Old ppl still can buy bto.
I hv old relatives who bought their btos after selling old flat.

 

[needhelpbadlynow]

Old ppl still can buy bto.
I hv old relatives who bought their btos after selling old flat.

Can but the transaction and payment must meet HDB requirements before old peepur le ma. Loans no easy de ok.

If the old peepur 60 70 80 de buy BTO sure can but HDB will approve the financing or notch? Banks will approve? If sold old one top up a lot or full to new one HDB won't object

Like moi said the moment monies in CPF ordinary goes into retirement account ish kaboom le. Must appeal to use it

 

[Kunkka]

Only reason why u do this is becuz ts greedy want bto above a 2 room. Lost hope in sinkies

 

[Kunkka]

Old ppl still can buy bto.
I hv old relatives who bought their btos after selling old flat.

Nothing wrong with that. Ts trying to game system to get a 3 room and above bto

 

[VEF888]

First thing to note, not easy to get BTO for second timer, 5% allocated to this group for bigger BTO(4 to 5 rooms) for mature estates and 15% allocated for bigger non mature BTO.

popular area mature area can be 100 to 200 times over subscribed, so must be really lucky to get one:

https://services2.hdb.gov.sg/webapp/BP13BTOENQWeb/AR_Feb2022_BTO?strSystem=BTO

take the geylang 4 room example above it's 187.4 times subscribed for 2nd timer, meaning based on 242 units

5% = 242*0.05 = 12 units, so around 2250 applicants (187.4*12) 2nd timer fighting for 12 units.

ulu area not popular area also easily 10 times over subscribed.

 

[Apex01]

Can but the transaction and payment must meet HDB requirements before old peepur le ma. Loans no easy de ok.

If the old peepur 60 70 80 de buy BTO sure can but HDB will approve the financing or notch? Banks will approve? If sold old one top up a lot or full to new one HDB won't object

Like moi said the moment monies in CPF ordinary goes into retirement account ish kaboom le. Must appeal to use it

Write so much but foolish. You still hv no idea how selling the old flat to finance the new bto works?

 

[AZE]

but resale hdb is the buyer and seller determine the price what.

if ts parents willing to sell to him at 250k, hdb should not be stopping them what

The ppl living in the vicinity will f*king hate TS and their parents for dropping the price of their own units.

 

[Apex01]

Nothing wrong with that. Ts trying to game system to get a 3 room and above bto

Got wrong in the law?

 

[needhelpbadlynow]

Nothing wrong with that. Ts trying to game system to get a 3 room and above bto

Problem ish not about Ts la ish about parents.

If TS smart should go HDB sit down ask the orpicher on spot. The HDB orpicher will on spot take out one blank paper do some basic calculations and writing de if ish experience de lo.

Sure ask de how the parents intend to finance the new BTO n if at their age can loan how many years max. Or cannot accept by HDB then must go banks asking.

TS buy parents flat no issue de ma he just treat it like independent buyer de ma. Use cash or CPF n loan.

So focus on TS plan should be on his parents financial for BTO can pass or notch.

If TS want game this thing, he should buy his parents old flat more than enough to cover new BTO full price.

So his parent won't hab problems with finance part

 

[TheLookingGlass]

but resale hdb is the buyer and seller determine the price what.

if ts parents willing to sell to him at 250k, hdb should not be stopping them what

Hdb is not yours. It's lease from the government and technically subsidized, by their definition. If private property, your parents can sell you $1 if they like.

 

[Kunkka]

Got wrong in the law?

He is a single. He should be with 2 room

 

[Apex01]

He is a single. He should be with 2 room

Singles can buy resale flats or condo.
And new 2rm bto.

Everyone know that.

 

[g_t2006]

There is a valuation of the resale flat.

If resale flat transaction price below valuation, I think the seller need to top up the difference. I may be wrong. Pls double check

then what if buying price is above valuation? think again.

 

[needhelpbadlynow]

Write so much but foolish. You still hv no idea how selling the old flat to finance the new bto works?

Moi ish HDB owner moi sure know de ok.

But TS duno ma moi see keep see what buy over at minimum price sia just enough pay back cpf ish can't.

 

[Apex01]

Moi ish HDB owner moi sure know de ok.

I wrote that the seniors sold old flat to finance for new bto. And in your mind you only think they still need to tk loans?
You didn't know of anyone who give 100% full payment for property?

 

[g_t2006]

Do rbr that you cannot rent out the new BTO before the MOP.... meaning you have to rent out your resale... then if you used CPF housing grants to "pay" for your resale flat, there is a MOP too before you can rent it out

never use the housing grants also have 5 years MOP.

end up both units cannot rent out

 

[needhelpbadlynow]

I wrote that the seniors sold old flat to finance for new bto. And in your mind you only think they still need to tk loans?
You didn't know of anyone who give 100% full payment for property?

sure got peepur pay 100% de but moi duno TS parents how old de ma. maybe he intend make parents to loan also possible.

 

[g_t2006]

good for you .. when I turn 35. My parent hdb left 40+ years lease nobody will buy one.

maybe one of my sibling buy condo after take over the hdb unit to rent out fund my parent old age medical . Then I can bto with my parents ( they bought resale one). Then I pay for the bto.. old Liao can rent out or downgrade ..

what's the sequence? you know your sibling has to pay ABSD when he/she gets a condo after taking over the HDB. and must wait 5 years MOP before being able to buy the condo. If have condo, cannot take over the HDB. Need to sell the condo first.

 

[Coutinho_#23]

what's the sequence? you know your sibling has to pay ABSD when he/she gets a condo after taking over the HDB. and must wait 5 years MOP before being able to buy the condo. If have condo, cannot take over the HDB. Need to sell the condo first.

need absd i know..

But got hdb can buy private. got private cannot buy hdb correct me if i am wrong..

i cannot stay with my parents until old because i will outlive the lease remaining..