Property Overseas govt check?

[techman03]

Hi all,

me and my husband foreigner are planning to buy EC.
he helped his brother put the reservation of a condo which is just developing under his name.
the turnover is 3-4yrs from now. and were planning to buy a EC/resale flat.
do i need to declare that developing condo ? if i dont does the govt really check all this?

i know a few people who are PR and locals here they have a hdb here same time have properties overseas and no issue.

is it really ok like this?i dont want to end up not being able to buy. currently staying at my parents hdb

 

[Pokémon]

i know a few people who are PR and locals here they have a hdb here same time have properties overseas and no issue.

Having HDB and private property is allowed, provided you already own an HDB, before you purchase a private property after 5 years MOP is fulfilled.

How sure are you that those people obtained them the way you intend to?

I am assuming that you intend to buy a new EC. Take note that it is already listed clearly on the eligibility condition that - You do not own other property overseas or locally, or have not disposed of any within the last 30 months.

is it really ok like this?i dont want to end up not being able to buy. currently staying at my parents hdb

From and old news back in Sep 2010, which should still be valid:
Those who fail to declare their ownership of private properties or make a false declaration face fines of up to $5,000 or a prison term of up to six months, or both. The HDB can also compulsorily acquire its property if it discovers a false declaration has been made after the buyer takes possession of the flat. But many will get away with it for it is impossible or impractical to verify property ownership abroad.

I am not encouraging you, but make sure you do not get caught and end up with nothing.

 

[techman03]

thanks mr pokemon for a very clear reply.

thing about now is if hes going to transfer the reservation to another name,
the agent is asking him to pay around $1000 to transfer.

 

[iphone1s]

First world problems. Too much money

 

[meshpenstand]

Hi all,

me and my husband foreigner are planning to buy EC.
he helped his brother put the reservation of a condo which is just developing under his name.
the turnover is 3-4yrs from now. and were planning to buy a EC/resale flat.
do i need to declare that developing condo ? if i dont does the govt really check all this?

i know a few people who are PR and locals here they have a hdb here same time have properties overseas and no issue.

is it really ok like this?i dont want to end up not being able to buy. currently staying at my parents hdb

First, it is My husband and I.
2nd, you know you cannot do it. You can choose either go for it, or don't go for it. It is out in the open, you cannot do it. You do it, risk being caught.
I know they do not exactly check, but you risk your flat purchase if it is found.
If you are fine with the risk, then go ahead.

 

[techman03]

First world problems. Too much money

not too much money, its because we want to have a house of our own and move out of my parents hdb.

 

[techman03]

First, it is My husband and I.
2nd, you know you cannot do it. You can choose either go for it, or don't go for it. It is out in the open, you cannot do it. You do it, risk being caught.
I know they do not exactly check, but you risk your flat purchase if it is found.
If you are fine with the risk, then go ahead.

totally agree with this.
option b. pay $1000 to transfer the reservation + air ticket for him + time spent wasted.

 

[iphone1s]

totally agree with this.
option b. pay $1000 to transfer the reservation + air ticket for him + time spent wasted.

Where is the house located? Indonesia? Malaysia? China? Vietnam? Cambodia?

 

[techman03]

Where is the house located? Indonesia? Malaysia? China? Vietnam? Cambodia?

Philippines

 

[iphone1s]

Philippines

untraceable.

 

[techman03]

untraceable.

HAHAHAHAHAHAHAAH...you really turned misery into laughter

 

[Raffles88]

How about Thailand?

 

[Nbnbna]

How about Thailand?

You have the same issue? Any updates?

 

[RMCWMR]

Where is the house located? Indonesia? Malaysia? China? Vietnam? Cambodia?

You mean hdb can trace ownership in Malaysia or Indonesia?

 

[Wk7777]

untraceable.

ermm.... honestly, just think about it... if HDB can't even trace who peed on their HDB Lift landing.... what are the chances of them finding out that you have another property in Philippines or Thailand?

Unless, you so smart take a local loan to finance your property in Thailand or wherever in the world...

make sure your foreign property address dun appear in any of the government database....

risk is always there but if you cover it well..... i believe in the "capability" of our Govt Agencies....

 

[cscs3]

You mean hdb can trace ownership in Malaysia or Indonesia?

Probably not. But if someone report your case due to whatever reason. Your case will get investigated soon.