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Warrior88

Some Hdb Buyers In Afix Over Cash Proceeds Rule

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Some people laughing to the bank are bankers, lawyers, contractors, agents, and of course not forgetting our dear govt who are collecting lots of stamp fees from the HDB sales.

Edited by forgotten
 

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Hi bepgof,

Give them a break la, not everyone got 315k cash le. I am a self declare bankcrupt. My official Assignee (Wife) got stick note all over me. Even lay claim on my CPF RA few years later.

But, seriously, I would have opt for HDB loan in Jan 2010, but I am not eligible for 3 clauses.

Correction, 350K cash. If were to surrender all those insurance policies bought many years back..., estimated another 200K! Just to make yr salyva drip, haha.

Edited by bepgof
 

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i think this law have almost done the trick to mintain the HDBprice . people looking for quick profit always tot of the 2nd hdb loan coz no need cash downpayment. COV already so high sumore now the 50% or 25k rule. what is left ?? so it becomes like sell 4 waT? no make money leh. so leceh sumore..now almost all the lobang to make money thru HDB is sealed up. Not evryone makes 100k profit.

This is a "bad" cause and "ill" effects rule for BUYERS. Seller tot of 50% to surrender when buying 2nd house, will add on the COV hope to "recover" the 50% effect, ball keeps rolling.....till one day, "Ponggggggg", one big ball become many small bubbles (still balls!). I really couldn't understand why those can sell, yet want to take 2nd "concessionary" loan just to prevent downpayment? "Concessionary" should be renamed to "No down payment".

Edited by bepgof
 

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This is a "bad" cause and "ill" effects rule for BUYERS. Seller tot of 50% to surrender when buying 2nd house, will add on the COV hope to "recover" the 50% effect, ball keeps rolling.....till one day, "Ponggggggg", one big ball become many small bubbles (still balls!). I really couldn't understand why those can sell, yet want to take 2nd "concessionary" loan just to prevent downpayment? "Concessionary" should be renamed to "No down payment".

I agree. I suppose this is why now most seller will hope to "recover" the 50% by asking sky high COV. Maybe we must all "thanks" to our gov. :fire::curse:

Edited by davidbslee
 

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BUT.. those staircase. I believe none of the elder like it.

My grandparent and aunt use to stay @ masionette.

As they grown older, leg start to giving them problem.

masionette basically is a nightmare.

In the end, my aunt downgrade to 4 rm

As my property agent has so eloquently put it - people buy EM coz of the stairs, they sell EM coz of the stairs too ;)

 

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As my property agent has so eloquently put it - people buy EM coz of the stairs, they sell EM coz of the stairs too ;)

to me, stair case is good for kid

play hide and seek.

Some kids like stair case, they enjoy walking up and down.

Especially my aunt and my uncle bought 2 EM side and side and hack away 1 wall (est 1 door width) to join 2 EM.

During CNY, guys went to my uncle house play MJ, ladies went to my aunt house to play MJ.

For kids, if want to watch chinese channel, go to aunt house

Want to watch English channel, uncle house.

Very fun :D

 

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Interesting read. :)

Hmm..so if one make lots of money from the sale of HDB flat, one should need $75K cash minimally? 25K for cash into flat and around $50K COV, is that right?

Edited by Doomsday
 

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it will be the same as taking bank loan..but the trick bank 3mths no pay repossesed..HDB can drag much longer and they give you 2 room flat at subsidy plus another hdb loan (small though) in the case of repo. So hdb loan is still precious in this uncertain economy. thats y die2 people still go for 2nd 3rd hdb loan.

 

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Correction, 350K cash. If were to surrender all those insurance policies bought many years back..., estimated another 200K! Just to make yr salyva drip, haha.

Hey bro,

Soon you can join the milion dollars club liao :)

So, those going for the new rule may up their COV. Those taking bank loan may also up theirs !

Bottom line, HDB wants to widen the gap between new & resale with at their expense.

To keep HDB affordable. New Flats should be reasonably price.

Must widen the gap, bring down new prices, not up realse prices :)

Our next generation must work a lifetime to buy a decent home.

 

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Hey bro,

Soon you can join the milion dollars club liao :)

So, those going for the new rule may up their COV. Those taking bank loan may also up theirs !

Bottom line, HDB wants to widen the gap between new & resale with at their expense.

To keep HDB affordable. New Flats should be reasonably price.

Must widen the gap, bring down new prices, not up realse prices :)

Our next generation must work a lifetime to buy a decent home.

Money is not the problem, the problem is no money.

"HDB home afordability" - MBT says , singaporeans still can afford! See my previous post on reports - Singapore's house price still got "many room" to grow lah. With abt 6k combine income, take 8-10 yrs to fully redempt a 4-rm! Where got "a lifetime"! 8-10 years for fish bone. 20 years for the "fish flesh", depend what kind of fish. Many got 2 fishes some more and many landlords around le, get a stone & throw among 10ppl, got 10% chance can hit a landlord.

My Niece + boyfriend (fresh graduate) combined income >8K, cannot apply "subsidised" hdb, bought "Double Bay Residence" - don't buy resale le! They told me : Appreciation faster!

Many ppl are aware that now is a landlord mkt and they keep hdb for rental, seem seeing more angmors appear at hdb areas.

Edited by bepgof
 

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With abt 6k combine income, take 8-10 yrs to fully redempt a 4-rm!

4rm loan (80%)=320k

monthly=6000 X 35%cpf=2100, 2100X0.6572(oa)=$1380, 10year=165,600

Assuming yearly salary increment net of loan interest.

Seems to me more like 20 years, unless cash is involve.

Most landlords are born at the right time in their 40's now who ride the good time 15 ~ 20 years ago. Throw stones among 10ppl, got 10% chance can hit a graduates only.

By the way, average combine income is I think around 4 ~5k nia.

 

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Mr Mah stressed that the "size" of the second loan could not be independent of the proceeds from the sale of the previous flat. If it were, that would create a ‘perverse incentive’ for people to upgrade and downgrade ‘to automatically get a larger HDB loan’.

Anyone care to share how this works ? ‘perverse incentive’

 

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My Niece + boyfriend (fresh graduate) combined income >8K, cannot apply "subsidised" hdb, bought "Double Bay Residence" - don't buy resale le! They told me : Appreciation faster!

fresh grad..? so where did the downpayment come from?

>8k already dare to buy private..? so many ppl >10k still live in hdb...

 

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fresh grad..? so where did the downpayment come from?

>8k already dare to buy private..? so many ppl >10k still live in hdb...

My niece's own saving since young & "temp. loan from father". Boyfriend details, did not ask her. Anyway, she has the "go ahead" from my 2nd sister & Bil. 4th sis's daughter is a Dr, working in IE, will follow the same. 1st sister's 2 sons, "subsidised" Telok blangah's 5rooms, 5th & 6th floor.

Edited by bepgof
 

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Mr Mah stressed that the "size" of the second loan could not be independent of the proceeds from the sale of the previous flat. If it were, that would create a 'perverse incentive' for people to upgrade and downgrade 'to automatically get a larger HDB loan'.

Anyone care to share how this works ? 'perverse incentive'

Bro, since you posted twice without response, let me kick start to explain my understanding, don't fall from chair:

Perverse refers to of a person who knows wrong doing but continue to do it UNRESONABLY.

Incentive = somekind/form of encouragement to make one to do it to a greater height.

2 words combined: Consciously knew it is "wrong" but still doing it, and do it in a "more shiong" manner due to presence of "reward" encouragement.

Such actions/behaviour why defined as "wrong"?

It is ok to link the 2nd HDB loan amount to the proceeds gained from previous flat. Question is the policy makes should effect the "now", and "future", not "past". His "past" is itchy, needs someone to scratch to release the itch or till bleed?

Edited by bepgof
 

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