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

[therat]

Can anyone advise what are the ways I can avoid absd if I have finish paying off my hdb loan and wants to buy a condo?

no way.

They go by the owner name register in the property.
Not whether the property still have outstanding loan or not

No Outstanding loan only can help on applying 2nd property bank loan

 

[dilphinus]

I made an offer for an unit undergoing the HIP program. The first appointment is in the 3rd week of March. The agent mentioned to me when we signed the OTP that commencement of work for the unit will be in Feb. Up till now, the agent hasn't been able to get for me the date and when we can inform HDB to reschedule the works.

I'll be calling HDB tomorrow. Meanwhile, would like to know what is the procedure and if we can reschedule the works to be done after I get the keys. I'll be the one paying for the upgrading (yes, I save a lot too) and ideally would like everything (the sanitary ware) to be brand new when I move in. I don't want the owner to be using the sanitary wares for a few weeks/months and I have to change them when I move in.

 

[Restored]

Hi all, not sure if this is the right thread to post in.

I am single and 30 this year and thinking of getting a place.
As my parents are divorced and I have been staying with my Dad and two brothers at a rented place for almost 20 years, it is not as simple and clear cut thus I appreciate all input and advice, esp from those who have handled such situations.

If I get a condo, I would most probably have to remain in my current job for at least the next 5 or more years. And I will only give my Dad the option of moving in with me whereas my brothers will have to find their own place. I have been the only one contributing to our household and helping my Dad. I feel this might wake my brothers up to reality and not just go on their lives indifferent to our family situation which needs improving.

The kinder option is to get a BTO or resale 5-room flat with my Dad, meaning I provide a comfortable place for all of us to stay together in. That is the ideal in terms of keeping my family together. I am overseas for work half the time, so my brothers can at least be physically around when my Dad is home from work. However I do have to be prepared that I will continue to be the sole contributer. My dad has owned and sold a HDB before, so if I am not wrong he doesn't have any grant left. He mentioned he may have to pay back the grant if he gets a place with one of us, which I don't really understand.

One issue is that in time to come when I have a partner and want to set up my own family, I would either have to get another place with my partner and remove my name from the HDB, or ask my two brothers to move out. So I will be the bad person either now, or in the future.

I did consider asking them to contribute monthly if I were to get a hdb for all of us. Their contribution would be saved for my Dad's emergency fund. But as with the situation now, I have to be prepared that they might not contribute even if they agree now. Or if they default on contributing I can't chase them out of the house. Or rather I wont.

I am aware that if I get a HDB it would make things a little complicated for my future spouse and I. It would be good if I do not start off on an unfair note. I have heard about the paperwork regarding name transfer, but I am not sure of the time and costs involved. Also, I am not sure iif my brothers would want or be able to take over the hdb if I take my name out in future. In any case, if one of them were to take over my name eventually, I feel it makes more sense that one of them buy a HDB with my Dad now, while I buy my own condo and move out when it is ready or rent out for income. Of course, we can't volunteer others.

It sounds more like a family issue, but I do appreciate any practical advice as well as perspectives that I have failed to consider.

As a female, I would be marrying out in future and ideally I would like a space only for my spouse and I. I will take care of my Dad for sure.

My elder brother is 32 but he is not financially stable and has rejected my mum's partner's suggestion to get a house togther because he didn't want the financial commitment. I considered taking the offer but my mum's partner felt that it would be better for my brother rather than me to buy the house, because eventually that house will be for my mum and stepbrother to stay in when my uncle passes on, and my brother can stay with them. My younger brother is detached from the family in all senses and doesn't talk to us though we stay together so I can't discuss this issue with him.

My current savings: $100K
CPF Ordinary Acct: $43 800

Monthly CPF Ordinary Acct contribution: varies from $800-$100

A HDB is more manageable in terms of cost.
And if I do change my job it would mean a pay cut.
As my parents did not plan for their finances, if anything were to happen to them I would have to take charge and help out.

My mum, uncle and my stepbrother is staying at my uncle's friends place for free but helping to take care of the house and watch over the other rentees. So I have to be prepared that in case my uncle passes on, my stepbrother and her will need a roof over their heads unless my uncle's friend continues to let them stay at his place.

The clear cut way out is for me to find a partner, get married and have my own place and not be involved in the mess for now. But I think a proper place to stay in and having my own issues settled first is the best way to find peace at home and in my heart.

Thank you in advance for all advice!

 

[therat]

I made an offer for an unit undergoing the HIP program. The first appointment is in the 3rd week of March. The agent mentioned to me when we signed the OTP that commencement of work for the unit will be in Feb. Up till now, the agent hasn't been able to get for me the date and when we can inform HDB to reschedule the works.

I'll be calling HDB tomorrow. Meanwhile, would like to know what is the procedure and if we can reschedule the works to be done after I get the keys. I'll be the one paying for the upgrading (yes, I save a lot too) and ideally would like everything (the sanitary ware) to be brand new when I move in. I don't want the owner to be using the sanitary wares for a few weeks/months and I have to change them when I move in.

U want the whole stack of that unit all ON HOLD. Just because of you want NEW.

 

[dilphinus]

U want the whole stack of that unit all ON HOLD. Just because of you want NEW.

Did i imply that???

I have already mentioned i dont know what is the procedure and hdb is closed now and i'll call tml. So im asking what is the usual procedure. I said ideally i would want to it be unused.

The agent has mentioned to me that the contractors can work on the other units and leave mine for last. Do u think they can finish the entire block in 3 months? On average it takes 10 working days for an unit to be completed. This is an assumption as i have read this on blogs, etc.

 

[popdod]

Hi all, not sure if this is the right thread to post in.

I am single and 30 this year and thinking of getting a place.
As my parents are divorced and I have been staying with my Dad and two brothers at a rented place for almost 20 years, it is not as simple and clear cut thus I appreciate all input and advice, esp from those who have handled such situations.

If I get a condo, I would most probably have to remain in my current job for at least the next 5 or more years. And I will only give my Dad the option of moving in with me whereas my brothers will have to find their own place. I have been the only one contributing to our household and helping my Dad. I feel this might wake my brothers up to reality and not just go on their lives indifferent to our family situation which needs improving.

The kinder option is to get a BTO or resale 5-room flat with my Dad, meaning I provide a comfortable place for all of us to stay together in. That is the ideal in terms of keeping my family together. I am overseas for work half the time, so my brothers can at least be physically around when my Dad is home from work. However I do have to be prepared that I will continue to be the sole contributer. My dad has owned and sold a HDB before, so if I am not wrong he doesn't have any grant left. He mentioned he may have to pay back the grant if he gets a place with one of us, which I don't really understand.

One issue is that in time to come when I have a partner and want to set up my own family, I would either have to get another place with my partner and remove my name from the HDB, or ask my two brothers to move out. So I will be the bad person either now, or in the future.

I did consider asking them to contribute monthly if I were to get a hdb for all of us. Their contribution would be saved for my Dad's emergency fund. But as with the situation now, I have to be prepared that they might not contribute even if they agree now. Or if they default on contributing I can't chase them out of the house. Or rather I wont.

I am aware that if I get a HDB it would make things a little complicated for my future spouse and I. It would be good if I do not start off on an unfair note. I have heard about the paperwork regarding name transfer, but I am not sure of the time and costs involved. Also, I am not sure iif my brothers would want or be able to take over the hdb if I take my name out in future. In any case, if one of them were to take over my name eventually, I feel it makes more sense that one of them buy a HDB with my Dad now, while I buy my own condo and move out when it is ready or rent out for income. Of course, we can't volunteer others.

It sounds more like a family issue, but I do appreciate any practical advice as well as perspectives that I have failed to consider.

As a female, I would be marrying out in future and ideally I would like a space only for my spouse and I. I will take care of my Dad for sure.

My elder brother is 32 but he is not financially stable and has rejected my mum's partner's suggestion to get a house togther because he didn't want the financial commitment. I considered taking the offer but my mum's partner felt that it would be better for my brother rather than me to buy the house, because eventually that house will be for my mum and stepbrother to stay in when my uncle passes on, and my brother can stay with them. My younger brother is detached from the family in all senses and doesn't talk to us though we stay together so I can't discuss this issue with him.

My current savings: $100K
CPF Ordinary Acct: $43 800

Monthly CPF Ordinary Acct contribution: varies from $800-$100

A HDB is more manageable in terms of cost.
And if I do change my job it would mean a pay cut.
As my parents did not plan for their finances, if anything were to happen to them I would have to take charge and help out.

My mum, uncle and my stepbrother is staying at my uncle's friends place for free but helping to take care of the house and watch over the other rentees. So I have to be prepared that in case my uncle passes on, my stepbrother and her will need a roof over their heads unless my uncle's friend continues to let them stay at his place.

The clear cut way out is for me to find a partner, get married and have my own place and not be involved in the mess for now. But I think a proper place to stay in and having my own issues settled first is the best way to find peace at home and in my heart.

Thank you in advance for all advice!

You have 3 issues :
• relationship issue with your siblings.
• joint ownership of the flat.
• financially not ready

If ur relationship with ur sibling is poor.
Then no point having a joint ownership of the flat with ur dad.
In future, when u tie down with ur partner , either u ask ur brother to take over or u ask ur future hubby to move in.
Unless u have discuss this with ur siblings.

Buying a condo on your own is not financially right if ur dad is not contributing.
Given the amount that you have currently , it will be a struggle.
So buy within your means.

The best option is endure 5 years more and accumulate more savings.
Get a single BTO, resale 3rm
Or quickly get attached and settle down.

Don't make impulse decision becoz of family issues.
It will be a costly mistake.

 

[gnoes85]

Open cashier order to hdb is write the payable to 'HDB' or 'Housing & development board'?

 

[winedz]

where to download the valuation report?
i go myhdb then go to valuation request, i can see the "Market Value" there, Valuation Report Date is today, but there is no softcopy to download

 

[precursor80]

where to download the valuation report?
i go myhdb then go to valuation request, i can see the "Market Value" there, Valuation Report Date is today, but there is no softcopy to download

Wait for one more day. It should be available tomorrow morning.
It takes time for the system to allow the softcopy to be downloaded.

The status will show softcopy available for download instead of Assigned valuer.

 

[noel13]

Open cashier order to hdb is write the payable to 'HDB' or 'Housing & development board'?

HDB will be good enough

 

[hahnhahnhahn]

More information...

http://www.channelnewsasia.com/news/business/hdb-resale-prices-drop/2486980.html

https://s3-ap-southeast-1.amazonaws.com/static.streetsine/SPI/HDB_Flash_report_+Jan_2016_new.pdf

 

[UnDeaDAfk]

hi guys,

i would like to buy a flat myself when i hit 35 (in 3 years time). wish to ask if it is possible to buy a 4 room myself? resale or bto?

 

[dotcom2008]

Hi All,

May I know as a DIY seller for OTP on page 8 under *Our solicitors are ________ can I leave blank if I not sure?


Thank you.

 

[sigeena]

hi guys,

i would like to buy a flat myself when i hit 35 (in 3 years time). wish to ask if it is possible to buy a 4 room myself? resale or bto?

For bto, subject to your income. There's an income ceiling of 5k and only limited to 2rm

For resale, you can whack 5 rm also.

 

[chongpang]

hi guys,

i would like to buy a flat myself when i hit 35 (in 3 years time). wish to ask if it is possible to buy a 4 room myself? resale or bto?

If you are a Singapore Citizen at 35, you can buy resale up to 5 room for hdb loan but for bto only 2 room.

 

[noel13]

Hi All,

May I know as a DIY seller for OTP on page 8 under *Our solicitors are ________ can I leave blank if I not sure?


Thank you.

Your current house is under hdb loan?

 

[dotcom2008]

Your current house is under hdb loan?

My Current house no loan, we pay cash.

 

[qhong61]

My Current house no loan, we pay cash.

U so cash-rich?

 

[Decodus00]

Hi, would like to ask for advice on this.

I'm to excercise my OTP, the seller agent mentioned on the extension of stay by the seller family for 1 month..

How do we go about it doing this as we not supposed to enter any form of supplementary agreements.

Would the seller pull the plug on the deal and the consequences ?

 

[hahnhahnhahn]

Open....

bro.. check ur inbox.. i just pm you.. wanna ask u sth