Break up (HDB)

[jkcm129]

If a couple applies HDB when they are in a relationship, selected flat already, but while the HDB is being built they break up, what happens?

Forfeit of deposit?

Can still apply HDB with new girlfriend in future?

 

[Petrelli_83]

If a couple applies HDB when they are in a relationship, selected flat already, but while the HDB is being built they break up, what happens?

Forfeit of deposit?

Can still apply HDB with new girlfriend in future?

If i'm not worng, u forfeit the deposit. And there's also a one year period from the revocation when you are not allowed to make another application. check the HDB website to be sure. They have a FAQ.

 

[jkcm129]

If i'm not worng, u forfeit the deposit. And there's also a one year period from the revocation when you are not allowed to make another application. check the HDB website to be sure. They have a FAQ.

paid option fee, paid 5% downpayment already, take loan from HDB already, grants also received and in CPF, now just waiting for keys.

but if the couple breaks up at this point of time?

anybody heard of such cases?

 

[logicet]

Everything you paid will be forfeited. Grant will be paid back to HDB with interest. Additionally will have a period of time when you are banned from applying for a flat. If you're going through with it (which I hope you're not), call HDB and they will tell you everything you need to know instead of asking in forums. Then decide if its worth the break up.

 

[Petrelli_83]

Marriage is a huge commitment and I'm sure you're more than aware of that. If its not the right person, don't commit for the sake of the BTO. If u decide on a divorce later on, both parties suffer. You might wish to know its actually possible to void the ROM within a year, subject to the consent of both parties, without leaving an indelible trace in your records. if things turn ugly and one party refuses, it will go down to a divorce, with the customary 3 year separation.

 

[p00p00]

paid option fee, paid 5% downpayment already, take loan from HDB already, grants also received and in CPF, now just waiting for keys.

but if the couple breaks up at this point of time?

anybody heard of such cases?

slowly explain to u:
1) Paid option fee - forfeited
2) 5% downpayment & stamp/legal fees - forfeited
3) Loan - keys not received, not an issue since loan not disbursed yet
4) CPF grants - to be returned with interest. Must download the flat cancellation form from hdb website. HDB will reply you with a letter to authorise the return of the grant from your CPF. Failing to do so will be equivalent to owing money to the govt and you wont be apply to apply for any more flats till you repay.

In addition, if you booked your flat before Mar 2012 (not sure the exact date - it's the month they announce the debarment policy), you are NOT subjected to the 1 year debarment. Once you repaid your CPF grant you will be considered a first timer again.

 

[tmfwy]

If a couple applies HDB when they are in a relationship, selected flat already, but while the HDB is being built they break up, what happens?

Forfeit of deposit?

Can still apply HDB with new girlfriend in future?

I think you are referring to Fiance / Fiancee scheme

Referring to monies paid, General Rule as per what p00p00 stated.

slowly explain to u:
1) Paid option fee - forfeited
2) 5% downpayment & stamp/legal fees - forfeited
3) Loan - keys not received, not an issue since loan not disbursed yet
4) CPF grants - to be returned with interest. Must download the flat cancellation form from hdb website. HDB will reply you with a letter to authorise the return of the grant from your CPF. Failing to do so will be equivalent to owing money to the govt and you wont be apply to apply for any more flats till you repay.

In addition, if you booked your flat before Mar 2012 (not sure the exact date - it's the month they announce the debarment policy), you are NOT subjected to the 1 year debarment. Once you repaid your CPF grant you will be considered a first timer again.

However, i have heard of rare cases whereby HDB will look into the matter on a case by case basis, if the case is exceptional enough to warrant their attention.
But 99% of the time, the general rule applies.

The rationale behind the fiance / fiancee scheme is to allow a couple in a serious relationship to save some time in their BTO application. So as to prevent frivolous applications, there are penalties that apply should the couple decide to break up under that scheme

 

[jkcm129]

thanks everyone for the advice.

opportunity cost of breaking up while waiting for keys is like (option fee + downpayment + cpf grants) which can amount to up to 40k-50k.

breaking up isn't cheap. although the penalties are there for a reason, but imagine the horror you have to go through if you end a 5 year relationship because you aren't ready for marriage.

pain of break up + pain of losing 40k.

GOSH.

 

[stonefish35]

thanks everyone for the advice.

opportunity cost of breaking up while waiting for keys is like (option fee + downpayment + cpf grants) which can amount to up to 40k-50k.

breaking up isn't cheap. although the penalties are there for a reason, but imagine the horror you have to go through if you end a 5 year relationship because you aren't ready for marriage.

pain of break up + pain of losing 40k.

GOSH.

The key point here is Family Nucleus in HDB POV. IIRC, I rem reading somewhere it is possible to change the application to Parents + Children, in order not to lose the penalty, with a MP letter of course .

There was a case , Duxton, 140K loss when the couple broke up. EPIC

 

[jacejace]

paid option fee, paid 5% downpayment already, take loan from HDB already, grants also received and in CPF, now just waiting for keys.

but if the couple breaks up at this point of time?

anybody heard of such cases?

I'm facing this now... hais

We totally no contact n haven't cancel.
He's attached and i'm not.

 

[tmfwy]

thanks everyone for the advice.

opportunity cost of breaking up while waiting for keys is like (option fee + downpayment + cpf grants) which can amount to up to 40k-50k.

breaking up isn't cheap. although the penalties are there for a reason, but imagine the horror you have to go through if you end a 5 year relationship because you aren't ready for marriage.

pain of break up + pain of losing 40k.

GOSH.

looking at it from a brighter side

if the break up occurred later, it'll be more expensive

Divorce lawyer ( 5k & up for uncontested divorce
Decree nisi absolute - x yr waiting period
living in same flat as your soon to be ex wife/hubby
And the worst of all, a child who cannot understand why his/her parent's are hostile towards each other.

Its a hard pill to swallow but sometimes, its better to break up early than to break up late.

 

[jeffheng]

If a couple applies HDB when they are in a relationship, selected flat already, but while the HDB is being built they break up, what happens?

Forfeit of deposit?

Can still apply HDB with new girlfriend in future?

If cancel, Forfeit 5% of downpayment, grant will be pay back with interest +stamp/legal fees charges. If you booked your flat after Mar 2012,1 year debarment for first timer.

 

[jkcm129]

I'm facing this now... hais

We totally no contact n haven't cancel.
He's attached and i'm not.

sigh, stay strong man.
what are your plans?

 

[jkcm129]

If cancel, Forfeit 5% of downpayment, grant will be pay back with interest +stamp/legal fees charges. If you booked your flat after Mar 2012,1 year debarment for first timer.

hey jeff, the grants that must be paid back + interest + legal fees all must be in CASH? cause they disimbursed the grants into our CPF what. so can we pay back using CPF and then interest in cash?

 

[jeffheng]

If a couple applies HDB when they are in a relationship, selected flat already, but while the HDB is being built they break up, what happens?

Forfeit of deposit?

Can still apply HDB with new girlfriend in future?

hey jeff, the grants that must be paid back + interest + legal fees all must be in CASH? cause they disimbursed the grants into our CPF what. so can we pay back using CPF and then interest in cash?

If payments are made via CPF then is not CASH.
I think interest also CPF.
How much to be forfeit depends on flat price also.
R u cancelling after u sign deed?

 

[jacejace]

sigh, stay strong man.
what are your plans?

thanks. because now is my cpf not enough to repay the grant, so I dare not do the cancellation yet..

 

[zzzjil]

thanks. because now is my cpf not enough to repay the grant, so I dare not do the cancellation yet..

Hey. Sorry to re open an old thread. But I was wondering if you could share what happened in the end? Sorry if it's still painful. Thank you.

 

[infernolord]

Hai my gf been tru this as well. Hers was resales. She didnt bother or checked when HDB wipe all her grants and cpf a/c. In total of 100k plus.
now we want to get a flat, we went to HDB to check. What we realised was a shock.

In such situation, HDB will 1st take back grant with interests, ie. if you took 40k, u return 46k to HDB.
Then HDB will do a valuation. they will engage 3 valuators and take the lowest. (in this case, u lost abt 10k.) Then once got valuation, HDB buy back your HDB at 10% lower again. (in this case another 20-50k loss)

So in total =Purchase price - ( COV loss(back then) + grant and interest + valuation & 10%lower ) Its about 100k for her 400k HDB. >.<
expensive lesson!

 

[dnsfpl]

married liao then take bto need to wait another 3 years wor

even for resale, also need 1 year

 

[jjjccc]

May I know if in the event that before collecting keys, one of the party passed away and they were not married yet. Let's say already paid 5% downpayment and all other fees. Then how?