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Plastic3

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Posts posted by Plastic3

  2. Posted

    Hi,

    My current flat (HDB 5 RM Executive via HDB 2nd loan) is purchased under my family nucleus with my father, mother and myself as Co-owner. I am intending to buy over my father's share as he is no longer living with us and not contributing to the flat other than the 1st time downpayment. Is this possible?

    1. Can I apply for HDB loan with me and my mother's name assuming divorce is in the process?

    2. If my purchase price for my flat was $400K including COV of $30K and now current valuation is at $550K, do I need to "purchase" my flat at $550K or can I just refinance my dad's portion?

    I understand how you feel, I'm in a similar situation...although mine have not reached your stage yet.

    This is a very tricky situation, when you go to court try to prove his absence and non contribution to the family & flat.

    I have checked with a legal advisor, if able to prove his deliberate abandonment of the family it is possible to be awarded his CPF contribution to the flat (may not even need to buy over).

    I have also personally handled a case, where the Wife was awarded the CPF contribution of the ex-husband to the flat purchase.

    (according to the court order $XX,XXX is to be transferred to the Wife after the sale of their flat which was under joint-tenancy, husband got nothing)

    So it all depends on the details of your case.

    Best,

    Mark

  9. Posted

    I applied for Higher-tier grant too. The resale first appointment comes with a "LIST OF DOCUMENTS TO BE PRODUCED AT 1ST APPOINTMENT BY BUYER". It states "Note: Parents/married child must attend the 1st appointment personally with the buyers". So both website and resale 1st appointment letter has the info lor...

    Actually, it is worded differently....

    http://www.limyumu.com/1/post/2012/10/october-18th-2012.html

  14. Posted

    Yep, is at jr west, Cck some area also have, but more than 20yrs flat .. To each individual liking.. Still deciding whether to go for bank for Hdb loan?? Any advises, bank Loan interest is much lower than Hdb, do they have their pros n cons?? Would like to hear feedback n advises Frm e forumers.. Tks

    HDB Loan:

    - can loan up to 90% of valuation

    - pegged at CPF OA rate + 0.1, currently 2.6% (less likely to fluctuate)

    - HDB not as strict as banks when it comes to delaying loan repayments, I personally handled a case where the seller owed HDB for quite a long period of time but still allowed to stay

    (although eventually they did tell owner to sell or they will acquire back)

    - lower legal fees

    - CPF monies will be cleared for purchase

    Bank Loan:

    - can loan up to 80%

    - fixed or floating rates (fixed usually for first 3-years only)

    - current rates are lower than HDB loan, around 1.3%+/-, but note that it has gone up as high as 7-8% before

    - Bank loan cannot owe too long, like Kalimantan said....its business orientated

    - higher legal fees (though usually subsidized by bank)

    - can decide how much to use from CPF account

  16. Posted

    Hi, as mentioned above, I looking to selling my 4room at 400k, n intend to buy another resale 4A or 5room, am intending to get 2nd loan Frm Hdb cos am still eligible, my question are , my outstanding loan owning to Hdb is 120k, my spouse salary abt 2k.. N I temporary looking after my bb... So as for myself I have no income.. Btw wats e cash proceeds if I will to buy a 450k including cov of another resale.. Any1 know how to calculate n how much I needed to loan Frm Hdb if I buying a 450k 5rm flat.. Thanks!

    You can apply for HLE (HDB Loan Eligiblity) to determine how much you can loan.

  18. Posted · Edited by Plastic3

    hi guys, not sure if this has been answered before, i couldn't find anything on it :( if so, pls direct me to the right thread, thanks.

    basically i intend to sell my flat but i don't know any housing agent. how do i go about looking for a trustworthy and reliable one? is it advisable i just randomly pick one from the flyers dumped in my letterbox and doorstep? or should i just look for a flat 1st and contact the other party's agent? would appreciate any advise, thanks!

    I am a property agent, will be happy to serve you if you give me a chance.

    You can find out more about me on my website: www.limyumu.com

    (my number can be found there, call me anytime..no obligations)

    -Mark

  20. Posted · Edited by Plastic3

    Yup, it's called a leaseback.

    Your Agent & Lawyer will know what to do.

    If afraid the seller damage anything in the house can ask for a deposit as per standard Tenancy Agreement,

    the tricky part here is to do a proper check beforehand as the buyer buys the property "as is" condition,

    anything broken that the buyer did not ask about, it is technically accepted that seller not obligated to rectify.

  21. Posted · Edited by Plastic3

    At times I wonder why citizens give up hdb, while prefer to "fight" with foreigners in pte pty. Refer to citizens staying in pte pty >5 yrs without holding any hdb unit( pte-pty-only-portfolio). Anyone can enlighten me?

    Some of them did not "plan" properly, quite a number of millionaires tell me they should have bought a HDB when they had the chance OR they should not have sold their HDB to begin with.

    Even though they are already rich, they're still not happy that there are rules against private property owners buying HDB (for investment) *shake head*

  22. Posted · Edited by Plastic3

    May i know the profile of people who bought SOHO (shoe box apartment) ?

    1. are they single ? Why do they buy it ? What is their age like ?

    2. If not single (married) - why do they buy it ? What is their age like ?

    Shoebox = "mickey mouse" unit

    SOHO = small office/home office (live & work same place)

    they are different.

    Quite a number of HDB dwellers are buying for investment purposes because of the low quantum/affordability, but the rentability of such unit is unknown when over 2700 units TOP after 2014/2015.

    Due to the mushrooming of shoebox apartments island-wide, URA has stipulated that all private apartments and flats to be built in areas with Gross Plot Ratio of 1.4 must have the minimum plot size of 1,000sqm and the size of all dwelling units must be at least 70sqm.

    For Telok Kurau estate, due to the narrow local access roads (lorongs) that are prone to traffic jams, the dwelling units for flat and condominium developments must have a minimum of 100sqm in addition to the minimum plot size requirement.

  23. Posted

    Shoeboxes are still hot, the number of transaction is still going strong. But MND say may step to limit the no of SB in developments.

    It is inevitable that the transactions are going up as the developers are launching more small units.

    New apartments with sizes under 50sqm or 538sqft increased from 3.6% in 2007 to 19.4% in 2011.

    In 2007, more than 69% of private apartments launched were bigger than 101sqm or 1086sqft.

    In 2011, more than 65.7% of private apartments launched were smaller than 101sqm or 1086sqft.

    In 2007 only 424 of such shoebox units were launched.

    By the year 2015, over 2700 more of such units will receive TOP.

    more figures on my blog if anyone's interested:

    Shrinking apartment sizes

    Shoebox units already TOP & how they are faring

  25. Posted

    Is it true that :

    1) If we loan from HDB, we will definitely need to pay 20% downpayment during 1st appoint ment with HDB ?

    But ,

    2) If we loan from bank, we will not pay anything during 1st appointment ?

    Then when we need to pay the 20% downpayment and HOW to pay ?

    For HDB loan:

    Need to pay COV within 10-days from 1st appt, the rest on completion.

    For Bank loan:

    1st appt don't have to pay.

    Pay roughly 2-weeks before 2nd appt (depends on bank)

    (Note that for Bank loan need to pay 5% in cash)

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