HWZ Forums

Login Register FAQ Mark Forums Read

November 2017 SBF

Like Tree362Likes
Reply
 
LinkBack Thread Tools
Old 26-07-2018, 03:13 PM   #2896
Member
 
Join Date: Oct 2014
Posts: 423
What they mean by sales proceeds is any cash amount you get after selling your unit. They will straight away deduct the cash n give you the balance cash. Lets say 10yrs ago...i sold my flat n bought another flat...instead of receiving the 60k cash...they will deduct 20k n give me the balance 40k. But after selling my house 10yrs ago becuz of divorced i didnt buy any flat. Stay with parents. So basically levy is to be paid in cash.
But I thought only after you buy new flat from HDB (2nd timer) then you need to pay levy? How can they deduct the levy straight after you sold the flat?
Erinlmh is offline   Reply With Quote
Old 26-07-2018, 03:16 PM   #2897
Member
 
Join Date: Oct 2014
Posts: 423
If you sell ur house and got a cash profit more worse😂. Hdb will ask u to pay for ur current balance purchased price in cash.

Like mine example... i sold my resale flat and got 60k cash 10yrs ago. Now i want to buy this sbf right...the unit cost me 184k. Both our cpf is 150k. Balance 34k, i cant use HLE to pay. They want me to pay it in cash even tho i got 218k HLE amount. On top of 34k...my levy is 20k. So in short they want 54k cash frm me. Thats why im appealling to let me use my HLE to pay for my balance right now.
What I heard is after you sold your flat, let's say you have a cash profit of $60k, 50% have to go back to your CPF account. Not sure whether is it correct. I know that after I sell my this resale flat, I will make a lost cos I bought at too high and sell at too lower. I will lugi about 50k-80k to my CPF. SO I think HDB can't do much to me.
Erinlmh is offline   Reply With Quote
Old 26-07-2018, 03:20 PM   #2898
Member
 
Join Date: May 2018
Posts: 158
What I heard is after you sold your flat, let's say you have a cash profit of $60k, 50% have to go back to your CPF account. Not sure whether is it correct. I know that after I sell my this resale flat, I will make a lost cos I bought at too high and sell at too lower. I will lugi about 50k-80k to my CPF. SO I think HDB can't do much to me.
After putting whatever need to be put in cpf.. i got 60k cash. I bought my resale flat at 240k and sold it for 400k 10yrs ago. After minus everything total profit of 120k is divided equally between me n my ex.

So long as u nvr take grant no need pay levy for ur 2nd house. And so long if u dont get any cash profit, u cn use HLE. 😂 if u get any amt of cash...HDB wont let u use 50% of the amount of cash u received for HLE. Example if u received 20k cash...HDB will ask u to pay 10k in cash for ur 2nd flat the balance then cn use HLE.

Last edited by LynR52; 26-07-2018 at 03:22 PM..
LynR52 is offline   Reply With Quote
Old 26-07-2018, 03:22 PM   #2899
Member
 
Join Date: Oct 2014
Posts: 423
Haiyah...i think bank shld be willing to loan u 34k to give HDB lei. Hahahaha. Point is HDB wants me to pay cash for balance instead of using HLE becuz 10yrs ago i received 60k cash from selling house. I think if my appeal is not approved to let me use HLE, i will have to take up bank loan instead.

But really my husband poor thing lor. He 1st time buying flat if cannot use HLE so sian.
If no choice also have to take bank loan. In fact, some bank loan is lower. Mine was lower than 2.6% (current HDB loan interest rate) for sure, but I just don't feel comfortable taking loan anymore. Imagine, loan 285K for 30years. After servicing my loan for 5 years, I paid about 36K of interest. Too much for us to bear. Every month, CPF amount into my OA only every little. Pay this and that, figures getting lesser and lesser every year
Erinlmh is offline   Reply With Quote
Old 26-07-2018, 03:27 PM   #2900
Member
 
Join Date: May 2018
Posts: 158
If no choice also have to take bank loan. In fact, some bank loan is lower. Mine was lower than 2.6% (current HDB loan interest rate) for sure, but I just don't feel comfortable taking loan anymore. Imagine, loan 285K for 30years. After servicing my loan for 5 years, I paid about 36K of interest. Too much for us to bear. Every month, CPF amount into my OA only every little. Pay this and that, figures getting lesser and lesser every year
Which is why i try not to take bank loan. My husband is 1st time buyer and he is the 1st applicant for this sbf. He applied for 1st timer grant while i dont apply for any grant. So basically he is the one who made an appeal to let him use HLE for balance 54k plus levy bcuz he is paying for this flat solely as im not working. If not approved then he hv to apply for bank loan lor.
LynR52 is offline   Reply With Quote
Old 26-07-2018, 03:28 PM   #2901
Member
 
Join Date: Mar 2018
Posts: 219
LIke what Amex mentioned, your grant approval letter should be on the way
So the next thing to look out for is missing grant status line
heybuddy is offline   Reply With Quote
Old 26-07-2018, 03:30 PM   #2902
Member
 
Join Date: May 2018
Posts: 158
But I thought only after you buy new flat from HDB (2nd timer) then you need to pay levy? How can they deduct the levy straight after you sold the flat?
Yes. Which is why i received the full amount 60k 10yrs ago. Now they asking me 20k in cash for levy when i wanted to buy this sbf.

If u sell house then buy 2nd flat straight after selling. Then any cash profits they will deduct straight lor.
LynR52 is offline   Reply With Quote
Old 26-07-2018, 03:32 PM   #2903
Member
 
Join Date: May 2018
Posts: 158
So the next thing to look out for is missing grant status line

Yes! Mine not missing yet 😂😂😂😂😂😂😂
LynR52 is offline   Reply With Quote
Old 26-07-2018, 03:37 PM   #2904
Member
 
Join Date: Oct 2014
Posts: 423
Yes. Which is why i received the full amount 60k 10yrs ago. Now they asking me 20k in cash for levy when i wanted to buy this sbf.

If u sell house then buy 2nd flat straight after selling. Then any cash profits they will deduct straight lor.
Crazy..... Who will keep 20K and wait till they apply new HDB again. As if we can predict what's for next. These ppl har........ Wanna give us grant, give properly lah. Ask to pay back, I can understand, but money spent liao then how?
Monday21 likes this.
Erinlmh is offline   Reply With Quote
Old 26-07-2018, 03:45 PM   #2905
Member
 
Join Date: Mar 2018
Posts: 219
Yes! Mine not missing yet 😂😂😂😂😂😂😂
Same.. mine also not missing yet.. i was hoping to collect keys by august.. seems bleak..
heybuddy is offline   Reply With Quote
Old 26-07-2018, 03:57 PM   #2906
Member
 
Join Date: May 2018
Posts: 158
Same.. mine also not missing yet.. i was hoping to collect keys by august.. seems bleak..
Same here. I wanted to move in by sept cuz my son starting his school.
Amex^1234 and Monday21 like this.
LynR52 is offline   Reply With Quote
Old 26-07-2018, 04:01 PM   #2907
Member
 
Join Date: Jul 2014
Posts: 489
So the next thing to look out for is missing grant status line
Correct.. once the grant status goes missing = processing.. 3-4days will know outcome.
Amex^1234 is offline   Reply With Quote
Old 26-07-2018, 04:05 PM   #2908
Member
 
Join Date: May 2018
Posts: 233
Crazy..... Who will keep 20K and wait till they apply new HDB again. As if we can predict what's for next. These ppl har........ Wanna give us grant, give properly lah. Ask to pay back, I can understand, but money spent liao then how?
Might as well dont give grant right Likewise for CPF, i just learnt that we can use our OA to further our studies. Initially i was happy cos current education is not that cheap, thought can finally continue my studies and upgrade myself, get a better paying job with better certs.

Then got to know that you have to repay back your OA with interest after you finish studies. Isn't OA our money in the first place?? Its like owing money to yourself
Monday21 is offline   Reply With Quote
Old 26-07-2018, 04:12 PM   #2909
Member
 
Join Date: Oct 2014
Posts: 423
Might as well dont give grant right Likewise for CPF, i just learnt that we can use our OA to further our studies. Initially i was happy cos current education is not that cheap, thought can finally continue my studies and upgrade myself, get a better paying job with better certs.

Then got to know that you have to repay back your OA with interest after you finish studies. Isn't OA our money in the first place?? Its like owing money to yourself
yes. have to pay back together with the 5% interest. I need to earn more CPF for my girls to further study
Monday21 likes this.
Erinlmh is offline   Reply With Quote
Old 26-07-2018, 04:14 PM   #2910
Member
 
Join Date: May 2018
Posts: 158
Crazy..... Who will keep 20K and wait till they apply new HDB again. As if we can predict what's for next. These ppl har........ Wanna give us grant, give properly lah. Ask to pay back, I can understand, but money spent liao then how?

Yaa thats why...when i appeal they asked me for receipts of what i spent. Siow. 10yrs ago keep receipts also the prints disappear already. 😂😂
Monday21 likes this.
LynR52 is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On