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

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Old 13-03-2018, 01:30 PM   #6031
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How much Re wiring cost, anyone got lobang
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Old 13-03-2018, 02:03 PM   #6032
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Hi,

Does anyone know what happens if HPS (Home Protection Scheme) application is rejected due to pre-existing condition? In that case, the monthly installment can't be paid by CPF?

Thanks a lot!
Instalment still can be by CPF, HPS doesn't affect that. HPS is a reducing policy on the amount unpaid. In the event one of the time owner dies, the house will be automatically considered fully paid for and the remaining home owner don't need to pay anymore instalments. But if in your case HPS cannot cover, the remaining owner will have to continue paying for both home owners share of the remaining instalments.
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Old 14-03-2018, 12:54 AM   #6033
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Hi,

My first time buying resale flat..
I see that there is something called cov, n buyer has to top up cash if the valuation of e house is lower than offered price?

Is this still applicable? I jus requested for valuation today.

Also anybody can share how usually the outcome of e valuation is?

Mine is a 4rm flat at teck whye lane.
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Old 14-03-2018, 01:38 AM   #6034
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Not many unit will have cov nowadays.

As long purchase price is within transacted price of similar units in same vicinity, most likely your valuation price will also be your purchase price. Meaning $0 cov.

Of course there will still be deposit to be paid in cash ($2 to $5,000), up to buyer negotiation skill.

Usually at least $1k to $3k.

-vinz
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Old 14-03-2018, 01:53 AM   #6035
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Oh I see.. that's great.

I checked e most recent transaction in Nov 17 was 295k.
7th -9th floor. I'm buying 6th floor unit at 320k.

But agreed for the price cause, flooring, cupboards 're all gd plus 6 mth old a.c..

Hoping the valuation doesn't come lower..

Else I have to top up with cash issit?


Not many unit will have cov nowadays.

As long purchase price is within transacted price of similar units in same vicinity, most likely your valuation price will also be your purchase price. Meaning $0 cov.

Of course there will still be deposit to be paid in cash ($2 to $5,000), up to buyer negotiation skill.

Usually at least $1k to $3k.

-vinz
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Old 14-03-2018, 01:57 AM   #6036
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Oh I see.. that's great.

I checked e most recent transaction in Nov 17 was 295k.
7th -9th floor. I'm buying 6th floor unit at 320k.

But agreed for the price cause, flooring, cupboards 're all gd plus 6 mth old a.c..

Hoping the valuation doesn't come lower..

Else I have to top up with cash issit?
wow. you are big carrot. they tell you the aircon 6 months old only you believe ah? if they planned on selling why they buy new aircon?

cupboards you get your contractor do with and even redo floor and all that also won't hit 30k. you paying a premium for nothing. that seller really hit jack pot to meet you.
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Old 14-03-2018, 07:27 AM   #6037
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Oh I see.. that's great.

I checked e most recent transaction in Nov 17 was 295k.
7th -9th floor. I'm buying 6th floor unit at 320k.

But agreed for the price cause, flooring, cupboards 're all gd plus 6 mth old a.c..

Hoping the valuation doesn't come lower..

Else I have to top up with cash issit?
If you buying at 320k and valuation comes out e.g 300k means that you need to pay 20k in cash. The amount you can loan from either hdb or bank will be based on the valuation.
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Old 14-03-2018, 09:06 AM   #6038
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I got them to show me the receipt. They got a big queue no. For the sales of balance flat, they thought that they will nt get e chance to buy, hence installed e new a.c.. haiya jus wait for valuation..

wow. you are big carrot. they tell you the aircon 6 months old only you believe ah? if they planned on selling why they buy new aircon?

cupboards you get your contractor do with and even redo floor and all that also won't hit 30k. you paying a premium for nothing. that seller really hit jack pot to meet you.
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Old 14-03-2018, 09:17 AM   #6039
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Just be ready to pay $25k cov (or maybe lesser) if valuation price comes out lower.

But looking at recent transaction, there are similar size 4NG units sold at nearby blocks already sold for 303k, 310k and 340k.

Your chance of purchase price being the valuation price is pretty high.

Of course in the event its lower, and if u like the unit enough, do prepare some cash for the cov if any. I doubt it be so much cov so don't worry too much.

Update us when result is out.

Good luck.

-vinz
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Old 14-03-2018, 10:50 AM   #6040
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Okay sure .. thank you so much!

Just be ready to pay $25k cov (or maybe lesser) if valuation price comes out lower.

But looking at recent transaction, there are similar size 4NG units sold at nearby blocks already sold for 303k, 310k and 340k.

Your chance of purchase price being the valuation price is pretty high.

Of course in the event its lower, and if u like the unit enough, do prepare some cash for the cov if any. I doubt it be so much cov so don't worry too much.

Update us when result is out.

Good luck.

-vinz
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Old 14-03-2018, 10:53 AM   #6041
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I've to pay legal & title search & caveat fees of $144.65 by cash. This I understand.

But then on appointment day, i have to pay 'balance of payment on completion' of $88 via cashier's order to HDB. May I know what is this $88 for because I didn't exceed the HLE limit so why can't deduct from CPF?
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Old 14-03-2018, 10:54 AM   #6042
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Oh I see.. that's great.

I checked e most recent transaction in Nov 17 was 295k.
7th -9th floor. I'm buying 6th floor unit at 320k.

But agreed for the price cause, flooring, cupboards 're all gd plus 6 mth old a.c..

Hoping the valuation doesn't come lower..

Else I have to top up with cash issit?
Too high, you offer base on recent transact price
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Old 14-03-2018, 11:13 AM   #6043
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I've to pay legal & title search & caveat fees of $144.65 by cash. This I understand.

But then on appointment day, i have to pay 'balance of payment on completion' of $88 via cashier's order to HDB. May I know what is this $88 for because I didn't exceed the HLE limit so why can't deduct from CPF?
HLE is for loan.

This is maybe to meet 10% of purchase price + stamp and legal fees.

Not sure u have that fully in your cpf ordinary account or not.

And CPF grant cannot be use for stamp fees payment.

There can be many possibilities. Why didn't u ask the hdb officer on the spot? If you want to check I am sure u are still able to call them back and check what is this all about.

We don't see your breakdown of payment and your cpf+grant amount, hard for us to even comment much on this.

-vinz
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Old 16-03-2018, 07:41 AM   #6044
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Hi..

Just an update, got the results of e valuation..

It's exactly 320k... phew😅😅

Thanks 4 e advices!

Just be ready to pay $25k cov (or maybe lesser) if valuation price comes out lower.

But looking at recent transaction, there are similar size 4NG units sold at nearby blocks already sold for 303k, 310k and 340k.

Your chance of purchase price being the valuation price is pretty high.

Of course in the event its lower, and if u like the unit enough, do prepare some cash for the cov if any. I doubt it be so much cov so don't worry too much.

Update us when result is out.

Good luck.

-vinz
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Old 16-03-2018, 09:04 AM   #6045
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Question on behalf of cousin, he has a resale flat under his name under HLE. Now he wants to BTO, can he apply for HLE? If successfully gotten a BTO flat, by when does he need to sell off his current flat

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