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

[coern]

it is a conspiracy to cheat the tax man; the sale is subject to stamp duty.

don't get found out... later need to pay 20 x of the evaded stamp duty... LOLOLOLOLOL

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

 

[AreYouNoob]

Yup. I tried about 30 times before I got lucky. That time dunno why people did not want Fernvale Rivergrove and instead Anchorvale Harvest was the popular one. I got Fernvale Rivergrove with the marvelous view and breeze of the park.

30 times? OH MY GOODNESS

 

[AreYouNoob]

it is a conspiracy to cheat the tax man; the sale is subject to stamp duty.

don't get found out... later need to pay 20 x of the evaded stamp duty... LOLOLOLOLOL

if HDB authorized it, what can IRAS say? Hahahaha

 

[harbinger255]

it is a conspiracy to cheat the tax man; the sale is subject to stamp duty.

don't get found out... later need to pay 20 x of the evaded stamp duty... LOLOLOLOLOL

Stamp duties will be based on valuation price if selling price is lower.... IRAS won't be so gong one lah

 

[Mr Duck]

Hi all,

So I just reached the legal age to buy resale flat as a single and I have some questions to ask:

1) Can my parents with existing 4-RM HDB flat (fully paid) just go ahead and apply for BTO and eventually sell their flat to me (i am the son) for a minimum amount and use the proceedings to contra for their new flat?

2) If point 1 is valid, does the minimum amount needs to be a certain figure? Lets say 4-RM flat is 450,000 but I pay my parents 250,000 to cover their CPF+ accrued interest that they have spent on the flat over the years.

3) Even if it is legal, will HDB block the transaction if the selling price is too low compare against the actual valuation price?

Need some advise from all the saxpert here, thanks in advance.

Why can't you buy a resale 5rm flat and than fetch your parents over to stay. And their whole unit rent out. At least they can don't need to work. Can help you pays certain bills. Sell away their house they just got one chicken to eat only and will be finished. Rent out at least every month got eggs to collect and the house is still there.

 

[Discarded]

Then you still ask if they can sell their flat to you for the min amt for what? Just buy at market rate lah. Then same time, come up with the cash to buy over the debt from them when they bto a new place to satisfy you ah

Obviously TS beh kan hope to be a char siew eat his parents money lah.

 

[coern]

never saw this mentioned in hdb websai before... got such rule?

Stamp duties will be based on valuation price if selling price is lower.... IRAS won't be so gong one lah

 

[Ye_Rongtian]

30 times? OH MY GOODNESS

Virtually every 4 and 5 room BTO was oversubscribed. Unless we are still living in Mah Bow Tan era where supply outstrip demand. I got lucky.

 

[harbinger255]

never saw this mentioned in hdb websai before... got such rule?

No need HDB.... private property transactions also liddat

Edit: Don't say no zhup

https://www.iras.gov.sg/quick-links/tax-rates/stamp-duty

 

[8zaoyu]

i got consider this too. but 4RM resale damn expensive in my area.

sian!

In that case, best they bid for a 4 rm BTO in Tengah, they pay the normal BSD plus a 40k Resale Levy only.
2nd Timer BTOs currently high demand also.

 

[deathan9el]

why don't u give hdb a call to clear all ur doubts?
much more clearer isn't it?

 

[coern]

Taxman is always the smartest...

No need HDB.... private property transactions also liddat

Edit: Don't say no zhup

https://www.iras.gov.sg/quick-links/tax-rates/stamp-duty

 

[wongminmin]

dont understand..... bto is hard for second timer and the waiting time around 7 years plus?

u just buy resale flat...... then rent your parent flat out. no need to wait for 5 years of MOP

If u lucky, u may find some cheap resale flat out there.

 

[drkcynic]

never saw this mentioned in hdb websai before... got such rule?

This rule is to make sure rich people don't transfer their GCBs to their 1yo kid for $1.

They can transfer yes, but the tax man wants a piece of the pie.

 

[antonpoh]

Just once..... i am urging them to go try luck for the 2nd time

What is their age? They can only loan up to 65yo.

 

[caelitus]

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

There is tax (stamp duty) collected. Under declaring the sales value of the property is tantamount to cheating?

 

[DragonBlack]

Hi all,

So I just reached the legal age to buy resale flat as a single and I have some questions to ask:

1) Can my parents with existing 4-RM HDB flat (fully paid) just go ahead and apply for BTO and eventually sell their flat to me (i am the son) for a minimum amount and use the proceedings to contra for their new flat?

2) If point 1 is valid, does the minimum amount needs to be a certain figure? Lets say 4-RM flat is 450,000 but I pay my parents 250,000 to cover their CPF+ accrued interest that they have spent on the flat over the years.

3) Even if it is legal, will HDB block the transaction if the selling price is too low compare against the actual valuation price?

Need some advise from all the saxpert here, thanks in advance.

Just sell at valuation can already. No questions asked.

 

[notbui]

actually the best option is for ts parents to sell the hdb at market value of 450k to other buyers. the parents earn the money than buy a new bto.

For ts, he buy a cheap 2 room bto which he can rent it out after 5 years mop and than he continue to stay with parents in their new big hdb

 

[䏣炆玧示老太]

it is a conspiracy to cheat the tax man; the sale is subject to stamp duty.

don't get found out... later need to pay 20 x of the evaded stamp duty... LOLOLOLOLOL

can sell for even $1
but still need to pay stamp duty for HDB-listed reference price

 

[sunsetbay]

we are all still staying in the 4-RM flat. I am just thinking ways to buy a bigger new flat.

If my parent buy BTO, can 5 RM
If I (single) buy BTO, max is 2 RM

so best is they buy and resale to me. LOL

existing 4Rm was bought before Mar 2006 or after~? if its before, pls note that the resale levy is very chou, 22.5% of selling price if your parents intend to buy another BTO~