November 2017 SBF

LynR52

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I got ask the officer when i collect keys lei.. is it i need vomit back the grant to HDB if i sell house.. she told me not true.. first time sell house no need pay levy one.

I received 20k grant before for my resale unit. Now hv to pay 20k levy in cash lei. So funny right? They give us grant put in cpf...then now asked to pay levy 20k in cash.
 

zidmosby

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I received 20k grant before for my resale unit. Now hv to pay 20k levy in cash lei. So funny right? They give us grant put in cpf...then now asked to pay levy 20k in cash.

Singapore mah. Where got free money. They will always find a way to claw back money from us
 

LynR52

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Singapore mah. Where got free money. They will always find a way to claw back money from us

Ya lor...i read HDB page...

If you previously bought a new flat from HDB, Design, Build and Sell Scheme (DBSS) flat or Executive Condominium (EC) from a developer, or received a CPF Housing Grant, find out if you need to pay a resale levy when you purchase your next home.

The resale levy maintains a fair allocation of public housing subsidies between first-timers and second-timers by reducing the subsidy enjoyed for the second HDB flat or EC.

Nvr bought new flat from HDB or DBSS or EC before. So basically... i must pay levy bcuz i hv received grant before lor.
 
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Monday21

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I just check myhdb again and got the grant letter aredi. Now when will get sms for key collection? Can I say I may get appointment within first 2 weeks of August ?πŸ˜ƒ

I got email instead of sms... Usually sent by your CRM...
 

Monday21

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I got ask the officer when i collect keys lei.. is it i need vomit back the grant to HDB if i sell house.. she told me not true.. first time sell house no need pay levy one.

Maybe first time sell house no need pay...
But second time BUY house need to pay..

Hahahahaha Singapore leh...
 

Erinlmh

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Maybe first time sell house no need pay...
But second time BUY house need to pay..

Hahahahaha Singapore leh...

from what I know

those who need to pay levy are buyer who apply new flat from HDB and ....

sold your new hdb house be it with grant or not,
sold your resales flat with grant...

For those resales seller who did not take grant from HDB before and did not purchase any new HDB flat before, no need to pay levy when you apply for your new flat.

(** if not wrong ba)
 

Erinlmh

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Additional CPF Housing Grant (AHG) Status
Your SHG application is successful. However, you do not qualify for the AHG.
Housing Grant amount: $0

Means I have no grant ??? πŸ™„πŸ™„πŸ™„πŸ™„πŸ€”πŸ€”πŸ€”πŸ€”

AHG max ceiling till $5000 (total household income). $5001 will not be entitle to any of it

SHG max ceiling till $8500 (total household income)(4 room flat and below then have). $8501 will not be entitled to any of it.

Think you still entitle to SHG. That's why we wanna downgrade to 4 room to get the SHG. :s13::s13:
 

Monday21

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from what I know

those who need to pay levy are buyer who apply new flat from HDB and ....

sold your new hdb house be it with grant or not,
sold your resales flat with grant...

For those resales seller who did not take grant from HDB before and did not purchase any new HDB flat before, no need to pay levy when you apply for your new flat.

(** if not wrong ba)

If really have to fork out levy if i ever want to sell/upgrade in future... I don't think i can ever repay my grant in cash... Funny how they cant give us the grant in cash in the first place...
 

Erinlmh

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Erinlmh

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Maybe first time sell house no need pay...
But second time BUY house need to pay..

Hahahahaha Singapore leh...

current situation will benefit those who bought HDB flat 10 years ago. Punggol 4 room was about 170k. Current price around 380k. Same area. Buy back resale flats which they don't need to pay levy. Cos new flat 4 room in Punggol also around 300K and above for now.
 

LynR52

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current situation will benefit those who bought HDB flat 10 years ago. Punggol 4 room was about 170k. Current price around 380k. Same area. Buy back resale flats which they don't need to pay levy. Cos new flat 4 room in Punggol also around 300K and above for now.

If you sell ur house and got a cash profit more worseπŸ˜‚. 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.
 

Dream catcher

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What if you use bank loan instead of HDB HLE. ?

If you sell ur house and got a cash profit more worseπŸ˜‚. 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.
 

LynR52

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When you sell the house which you get any grant from, you can pay the levy from the sales. Only need to pay cash when you don't have enough to deduct.

https://www.hdb.gov.sg/cs/infoweb/r...ed-sale-proceeds/selling-a-flat---resale-levy

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.
 

LynR52

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What if you use bank loan instead of HDB HLE. ?

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.
 
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Erinlmh

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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

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If you sell ur house and got a cash profit more worseπŸ˜‚. 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.
 

LynR52

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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. πŸ˜‚ 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.
 
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Erinlmh

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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
 

LynR52

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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.
 
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