11eleventh

There are a million and one issues (oops ! I exaggerated here ) to clear before a buyer can buy and Hdb flat. When i sit down and do some reading, I noticed there's a small clause that says if a buyer is an essential family member of a flat still within the 5 yr MOP, he / she cannot be an applicant of another flat. Does it mean that while qualifying a first time buyer, u must not forget to include the above issue in your list of questions ?

Thanks bepgof. Thanks tofu123 To tofu123, i was very much thinking the same way... Owning an hdb unit makes u ineligible to be the essential occupier of another unit.... technicality aside, when i first pen the first question i was just thinking of all the possible 'lobangs' there is left....living in one flat while having another flat out for rental seems like a cool idea... no doubt the law is very clearly against the above But i really want to know, if 2 persons, each side own a house ( hdb ) and get married, how fast will hdb know about this, to the point that this family starts to get hdb letter requesting that either one of them surrender his/her house. Or is it something that this family has to declare the 2 house ownerships ?

2 singles, each has his and her own Hdb flats. If both marry each other, can each continue to own the flat ? Or will Hdb ask them to surrender one of the flats ( as both have form a family unit ). When 2 singles such as the ones above, marry, wiil HDB automatically know abt this ? Or do they have to be informed ? ( don't ask, don't tell scenario... )

Thanks everyone for the reply !! I realise this is one place ( renotalk/forum ) where quite a number of real est agts let their hair down, park their thoughts, share their wisdom, fears, tribulations,etc... I've been wanting to go into this line for quite a while. As a matter of fact just a few weeks back i actually completed an Res Course. Thinking that i'm now a Real Estate Guru, i picked a few fries off the street and let them throw a few real estate questions at me. Guess what ?? Within a single breath, I was hit by 10 - 20 mega tsunami HDB + Pte Property + loss of jobs + father cannot get along with uncle + dog pass away kinda questions...OMG !! I guess i must know my basics really well...

The other day a lady friend asked for my advice : Her father n mother joint tenancy, Hdb flat. This young lady lives with parents along with siblings who are not eligible to buy their own flats. Reasons not given. This young lady has a fiance and will marry someday. Fiance has flat under his name. Recently lady's father passed away. Mother becomes sole owner. This lady friend asked me what to do. CAN SHE JOIN HER MUM AND CREATE A JOINT TENANCY ? Can she breakaway from a joint tenancy and marry her fiance and buy another flat? If yes, is she considered a 2nd timer ? IF SHE MARRIES AND LIVE WITH HUSBAND, WHAT IF SOMEDAY HER AGED MUM DIES(sole owner) can her siblings continue to live in the flat under orphan scheme or will the flat be taken back with proceeds distributed ? I don't know what to tell her

hmmm great points !! thanks plastic3 ! My best bet is that the journalist must be thinking about pte res prop in a news article principally about HDB.

Hi everyone ! I'm back !!! I'm glad that to find a lot of good answers to the topic which i raised earlier. Brothers and sisters, thanks a million..... About that 'LETTER' ( proof of sale ) again, i must say that the journalist who wrote that piece of article may have put it the wrong way. When i read the full text ' HDB flat sellers left in tight spot by new rules ' , and i came to the sentence = ' only with this letter can the seller exercise an option to buy his next flat ' , it truly gave me the idea that this letter is a PREREQUISITE to exercising the OTP, when really it is not. This letter is a PREREQUISITE to getting a 80% bank loan for the seller's next flat purchase, as it tells that the seller has sold his flat. Having or not having this letter does not stop the seller in any way from exercising the OTP. Just that without it, he will not be getting the 80% bank loan, but 70%. HELP everyone....pls feedback.....

hi mr plastic3 !!! immenseness of HDB's facts, figures and details notwithstanding,(....ooh brother they are really mindboggling...takes me months trying to break the "code", and still brother mah bow tan come up with yet another slew of HDB rules and regulations...) it continues to stump me how some ah sohs and aunties can still get into this industry and broker a few deals....well of course with CEA rules, and the demands of the RESALE CHECKLIST only true warriors will prevail....

thanks mr therat....you are a guy right ???? i want to be a real estate salesperson....what i found it daunting is that.... even with HDB as a subject, regardless how much i delve into it...read up...left..right and.. down break all the nuances into small digestible pieces....it is still laden with grey areas. i realised that to really prepare myself, just going to an HDB website and absorb all the issues is still insufficient....i still need to go to forums such as this one to listen to people talk...see what's happening on the ground.....how practitioners resolve issues.... thanks again mr therat !!

i think i should have said 'proof of sale' letter from hdb. i hope this clears the confusion. Here's another lines, quoted verbatim : 'The Monetary Authority of Singapore stipulates the proof of sale is the official letter from the HDB to the seller approving the deal. The trouble is that this letter is typically issued only about six weeks before the legal completion of the sale. Only with this letter can the seller exercise an option to buy his next flat ' full text can also be found in wealth1688articles.wordpress.com same question stands : is the letter REALLY a requirement to exercise OTP ???

In a sunday times news article ' hdb flat sellers left in tight spot by new rules ' dated 24 oct 2010, upon my second time read, i noticed this : ONLY WITH THIS LETTER CAN THE SELLER EXERCISE AN OPTION TO PURCHASE ( regarding HDB official letter Proof Of Purchase ). Anyone who is reading this please help.....is it true the hdb's proof of purchase is a CRITERIA to exercise OTP for the seller's next flat purchase ?????