Phantom

basically you don't have to pay her. at least that's my view.

It doesn't make sense if i'm selling my flat to sell near the median range because the high and lows are really wide in my area. Furthermore, 4room flats in my area are already asking near the median range of my 5room flat.. sheesh..

well that is true.. then again... even young people like us will slip on wet smooth tiles. lol..

Toilet? Hmm... nobody uses smooth floor tiles, very slippery when wet.

congrats on your new home. EM i presume? I think that it is still possible to find reasonably priced HDB's unless one is looking at places like Redhill/Tiong Bahru/Marine Parade etc.. I like Marine Parade but the HDBs are like 30 years old, valuation is high and asking for 30k to 80k for 3Rooms and 4Rooms. Anyone looking to buy a place today should expect some COV but to pay or not, that's still a choice.

Asking is one thing. getting it is another. Another way to look at it. If you bought something for $50 and can sell it for $150 when everyone else is selling for $80..... would you? if someone come around and offer me >500k for my flat I'd consider selling my place too..

Of course. I was just stating that 3room flats wouldn't need to take 10years to reach a median selling price of 400k if demand continues at this pace. I beg to differ that "there is some" truth. Rather it is the truth. There are no owners who "truth be willing", want to sell their property at a lower price. Similarly, there are no would be buyers who want to pay over the top if the choice is given. In a market today when property prices have been on the general uptrend, it's true that if you sell your place at a higher value, you will be buying at a relatively higher market value at the same time. There are of course choices, home buyers are entitled to walk away when they are faced with a property that requires more cash up front. It will be more difficult to find a dream home yes but there is a choice. If i'm selling my place today, i expect to derive the best value for my home too. At the same time, I don't have to upgrade to a condo. I can buy a 3room or 4room. What is an acceptable price for one person might not be for another. Ultimately it boils down to how much one wants to own a property and that want will justify the price.

You can list your property at www.st701.com www.nationproperty.sg www.propertyguru.com.sg Gd Luck!

There are 3room flats that are already near 400k or above 400k selling in the market today. We don't have to wait for 10 years time. This is a classic conundrum. Buyers want to buy cheap and sellers want to sell high.

Loan amount decided by the package of the bank and valuation of your property

Will CPF wipe out all our OA for downpayment for "BANK LOAN" ? No.

HDB Upgraders supporting the market. Check with your agent. They'll most likely tell you the same thing..

Another issue is the cashback issue when people collude to inflat the price of the HDB. to take more loan from Bank.

Typically happens in times when COV is difficult and in times when seller desparate for cash in hand urgently, e.g. maybe they cannot borrow from bank to pay for new house etc. or already broke to the $ in the bank account, Seller tells buyer that valuation is 300k. Buyer not biting, so seller says i sell you at 280 + 10k cash. so you buy house at 290. Seller gets cash of 10k. The long story short. It's illegal. Falsifying transaction. Agents involved. Buyer + Seller all will get into trouble with Mr. Lawman.

True enough. =)

All 1 post members? wow!

$6,600 (3% - $5,400) = 6,600.00

You can use from CPF. Yes. Subsidy depends on the loan amount. In your case, 80% of $380,000 = $304,000 Subsidy around $1216 - $1500 Legal fee please check if 1) Include stamping fee around $500 2) Include Gst 7% 3) CPF Charge around $500 Possible to get nett 2500 all in. or even 2000 exclude gst. Cheers.

I beg to differ. There are good housing agents around. At the same time, Fiduciary duty is important as the agent represents either the buyer or seller in one case or another. In other cases, they represent both. When they represent both, fiduciary duty is contentious. My agent, who is also a friend of mine have only done 1 HDB sales which was for me whereas his mainstay is private / high end properties. In my dealings with him, he has always sought the best price and assisted in negotiation prices for me. Even advising me to walk away on occasions. I'm not singing praises about my friend/agent but rather to state that there are people who put their clients interest in the right pocket and the commissions in the other. Unfortunately in an industry like property market, its really challenging as it is still unregulated.

Where's the fiduciary duty then?

This is not entirely correct. You cannot have a private bank loan approved before viewing. You have to sign the OTP before you can apply for a bank loan. Approval in principals are just an insurance. It's not necessary that banks will lend after the Option is signed.

Question: Have you got a bank loan yet? Cash over valuation means what it means. In your Example. Purchase Price is 400k. Valuation is 380k. Bank only lends to valuation. Hence you need to fork out 20k which is the "cash above valuation" Let's assume you are taking a 80% loan. 5% Cash $19k 15% CPF $57k Don't forget to reserve fees for stamp duty and legal fees etc. You will have to come out $39k

I used to be in the insurance industry previously. Historical is not a extremely big part of declining policies. BUT if its a combination of historical + existing then it's highly possible. My dad had diabetes. Recovered. I'm healthy. No loading. Only dealt in one rejected case previously. That was very bad. Historical ilnesses in the family are also checked if hereditory. Some illnesses have a higher chance. e.g. both parents have history of diabetes. Child might get some loading factor.

Interesting. As mentioned I don't think HPS should be declined unless the medical condition pre-existing is very serious.

I'll be interested to know. Have not come across a case lilke this before. Gd Luck.