Sam Lee Poh Huat

In near times to be cos adding in my future wife into my family tree whom got to bare the hassle/enjoy the warmth of my family after marriage.. So still pondering to upgrade a bigger rm now or later. . I guess theres alot of pple moonlighting as a property agent now.. e.g long lost schools frd.. colleagues. But when u realised u got to remind them basic things like how long is ur Minimum Occupacy Period, i think its time to move on n seeks for other honest n professional agents.. which r a opened sacred secret these days.. Hehe. Keep a lookout for me loli.. thanks~!

Gosh.. there's bogus IDs.. unscrupulous agents n now irresponsible association... Btw loli, u still hv the "orange-tee" guy contact? Pm me is u still hv it.. thanks

Haha.. Well i guess this big property company PRXXNEX r slapping their own faces by making public jus over a merely $4K. Well, if not for this case i wldnt hv know abt this "must-pay" commission to the seller agent. But do note that the mentioned case was based on a landed property transaction; no common practice to pay commission to seller agent due to larger $$ involved. Whereas the grey part of HDB resale transaction is as GREY as ever.. hope HDB clear some light soon Cant agree more with zirhk3355 that "protect the interest of BOTH parties" is totally crap.. Even during a recent conversation with my older colleagues; they warned me that if i m selling my flat, do u think all agents wld b trying real hard to sell higher fm sellers pt of view? A 10k more for the seller is merely $300 more for the agents. An example: Assume for seller agent to close a deal for "both interest", Asking price of flat: $210k Offered price of flat: $200k 2% commission on $210K: $4.2K 2% commission on $200K: $4K 1% "must-pay-com" on $210K: $2.1K 1% "must-pay-com" on $200K: $2k Therefore, in order not to waste any more time for the "interest of both parties". Seller agent MIGHT try to convice seller to sell at his loss of 5k-10k. Fm my above example, one cld c the agent point of interest for BOTH parties, with of cos $6-6.3k of commission already in their pockets. So b warned when signing ur exclusive rights with them.. by my wiser colleagues.

Big Or-leng.. Dun b dishearted cos atleast u got ur flat at an idea location.. My q number for a 5 rm is way far off n which i guess there will b no remaining ones before it cld reach my number.. anyway, as for ur purchase price of those avail fm bedok ballot.. i wldnt b surprise u r getting more than 100k than those en-blockers as it was pegged during the highest pt of resale market...

Well, sorry to chop in n add on... Fm what i understand, what u expected to b recredit back in ur cpf n cash on hand after selling ur replacement unit in "8-10" years time will largely depend how much u sell it off. For whats being recredit back to ur cpf will b how much u hv service off the loan (e.g 100k paid out of 417k loaned, ). Whereas cash on hand will b on the valuation then n how high/low u sell it off (e.g selling 500k of purchase 417k).. margin profit of only approx 60k-70k after paying ur interest for ur cpf.. so do consider carefully the thoughts of selling one b4 u own it..

hi chronograph, Fully understand my status as a 2nd timer now. Well but even with a dropping COV these days, valuation of flats raises regardless new or resale. Fm my observation, valuation r set to remained on the high end n i guess future 2nd timer "upgraders" like myself maybe "force" to loan half a mil (5ook) if considering getting a nest in a mature estate but of cos IF provided u can "afford" n "earn" from ur 1st sale.. Otherwise, we may consider st john island for a flat 30 years down the road.. lol.. ulu enuff?

Seriously, i wld suggest that u reconsider ur selection of ur potential W-E house cos it gonna b real warm in the day. Yes some may argue abt having a low level N-S facing flat is equilvalenly gonna b warm n this maybe due to poor air circulation but to face the sun from 12 noon on wards aint a joking matter. I do vividly rem my childhood was at a W-E flat that faces the big red sun from noon n my mum did resort of pouring water on the walls of my living rm during certian time of the afternoon. Gladly or not, we r staying at the 1st level then n i do rem we spend most of the time in the afternoon at the backyard of kitchen cos living rm was like a living OVENS... but of cos during the north east monsoon it wasnt that bad if i did not rem it wrongly.. If u hv the time why dun u visit the place esp during afternoon period to get a feel of the sun. But ultimately, choice is urs n ur family must like the place.. . cheers~!

Well indeed i m also well aware of the ERP gantry at the junction but i guess it is build to at an disadvantage to those staying at boon keng rather than upper boon keng cos on a bright side u dun hv to pay 50cent or a dollar to enter ur home during peak hour rite? .. Anyway, ur location is convienient enough n its near to mrt.. u cant hv the best of both world regarding abt its view.. cheers n do enjoy esp for those who manage to get flats on our city view n our latest addition- singapore flyer~!

Indeed it is near kallang mrt... congrats to ur family eRiam~! Its a gd location cos atleast anyone who drive in ur family dun hv to pass thru the ERP gantry as compare to those who bought DBSS boon keng city view. Nv knew view cld b so nice from the top... almost everyday i went past ur flats from below with looks of envious

Fm what i read from HDB website, assume u r the owner who is selling your existing HDB flat ("Flat A") and buying another HDB resale flat ("Flat B"), so u r the ("the contra party"). U may use the cash proceed to pay part of or the full amount of the purchase price for ("Flat B"). So dont think HDB will "makan" since its 2 separate loan proceedings. Ultimately u NEED to repay them an old loan of ("Flat A") b4 getting a new loan from them/bank for ("Flat B") . $_$. But there r some terms n condition in this contra facilty which has been discussed earlier. Of cos, some may consider to use the cash proceeds to reduce the new loan (if purchase price "Flat B" > selling price of "Flat A").. Haiz, sadly we sporean seem to b working (indirectly) for HDB or banks.. haha

thanks applef n keltong~! .. for ur prompt reply.. guess this forum r popular due to helpful pple like u all ard. When i was at a motorcycle forum.. some r less helpful than u pple r now.. search n read urself.. which can b back dated to years back thanks again

hi ms apple.. any local address of the above mentioned brands(blum, hettich, hafiele, alumix, ximula) where i cld view their product? ikea i no prob...

Actually i wonder wld HDB reduce their selling price (which was peg with resale market) when there is a downturn. Like balloted now at a price n during collection of flat, say, in 2010 (assume downturn) with a reduced selling price pegged with resale market.

Haha Roger.. i think most shldnt hv a prob earning abit of excess cash if flat is bought 1st time from HDB at a gd location and i guess thats why HDB impose the resale levy thingy when u need to buy a 2nd direct flat from them. Anyway, in aid for any further confusion.. here some info fm CPF again; For HDB flats bought with HDB loans The sales proceeds (including the option monies) will be used to pay off the following, in this order: 1) Outstanding HDB loan 2) HDB resale levy (if any) 3) Required CPF refund If the sales proceeds after paying (1) and (2) is not enough to make the required CPF refund, you do not need to top up the shortfall in cash, provided the flat is sold at fair market value. The net sales proceeds will be refunded to you and your spouse’s CPF accounts using the following formula: (a) Refund to A’s CPF Account: = Required CPF Refund for A X Net Sales Proceeds -------------------------------------------- Required CPF Refund for A & B (b) Refund to B’s CPF Account: = Required CPF Refund for B X Net Sales Proceeds -------------------------------------------- Required CPF Refund for A & B

was a alittle confused when miss apple state cpf withdrawal is $150k so when on to CPF website.. n the following is what i got from CPF website; A & B are the owners of a flat. They intend to sell the flat on the open market. The refund to their CPF accounts is calculated as follows: Assume: a Principal amount used: <Member A $150,000> <Member B $50,000> b Interest accrued: <Member A $30,000> <Member B $10,000> c Total CPF used (a+b): <Member A $180,000> <Member B$60,000 > d Selling price <$500,000> e Current market valuation <$500,000> f Outstanding housing loan <$100,000> g Balance Proceeds (d-f) <$400,000> h Cash proceeds available for distribution between the parties (g-c) <$400,000- $240,000 = $160,000> In this case, the sales proceeds after paying the outstanding housing loan is more than enough to pay the required CPF refunds for A & B. They have $160,000 in cash to divide between themselves. The CPF Board will not be involved in the distribution of the cash proceeds.

ACtually i dont really agree on this point.. but i guess i m becoming too passive as property is such an big investment esp from a sporean pts of view.. heh

Sorry pple to tag on this thread.. my worries is.. Yes, the COV is dropping but does the valuation will b dropping in times to be? It seem like this time rd of economic boom wave had brought UP the valuation in both resale n new flats market. So bottom line ques is.. if u cant afford now how abt the future? any opinions.. My apology to the thread starter for getting bits off topic..

haha.. wow how envious.. u shld indeed b happy As a 2nd timer i got queue number 550 out of 1197 applicants for 95 avail 5-rms at bedok.. which in another words . Pls try again... In my IMHO n observation of bedok site, jus try to avoid flats at e middle which means those facing one another in e middle.. noticed they been position quite closely (as usual for new flats).. Yest jus read a uncle who like to b topless n wearing boxers at home, was worried that he will b charge of indecent exposure due to his new flat at upper boon keng is so so near.. but again, with its complete n ready amenities u hv a gd choice there cheers

hey... jon_g9 nice way to go with ur plc.. really like ur theme.. n detail picture annodation of its progress.. but as i'm in maintenance field.. wld like to know whether u queries ur ID's abt any panel or lobang to access on any future water/gas/aircon pipes leaks that has been beautifully conceal.. its jus pityful to touch them in future..

hey zirhk3355 thanks again for ur another prompt reply.. u indeed live up to ur role as our moderator.. Well guess i m another kiasu-kiasi-kaibor singaporean guy who fret for our future n our pockets... and that doesnt help much to the fact that i m my family sole bread winner which somehow trigger to my present mindset of IF "i cant afford now, how can i afford later". Dont worry, me aint cash rich to speculate like some did or trying to b cash rich by trading off my next house.. jus seeking a reasonable place to upgrade with my parents n future wife.. Also, like what u n raincole reminded me a <AFFORDABLE> comfort zone.. so lets hope my worries r gonna b jus like our property.. raise n cooldown.

hehe.. thanks for e prompt reply again zirhk3355.. As i said.. a noobie ques can be unbearable to understand sometimes .. so bear with me pple Again, so wif resale pegged to HDB 1ST TIMER DIRECT SALES hv we raise our living standard to a few notches up now, which means selling price of any FUTURE HDB direct sales wld remain as it is now? I rem reading fm papers that a housing agent couple bought a approx 800K flat (cant rem size) at e peak of market in Bishan during early 90's.. they now hv to sell it to a lost of -200k to 300k. So concern is, wld u buy now (be it resale or direct) noting that its gonna drop value in future? Recent resale transactions suggested otherwise.

Hmmm... ok.. actually let me rephrase myself fm a buyers pt of view.. my concern is that so m i expecting the any future DIRECT 5rm HDB is gonna stay ard 400k when i upgrade? thanks ya.. cos i find it hard to explain why is it that a 5 rm at my area is selling at 400k-500k whereas it cost only less than 300k when direct sales from HDB 7 years back. So inflation the main cause n in general is e selling price from HDB gonna stay regardless if any resale transaction above or below valuation? haha.. as imply i a noobie hope u guys wld bear with my noobie ques.. thanks again

thanks for ur prompt n humble opinion.. haha.. I guess there isnt any much such heroes or heroines ards.. esp as a seller pt of views . But still, my main concerns is.. e.g 20 years back our 5 rm is 50k but now is atleast 400k, n due to inflation or next downturn does it means bottomPRICE of the flats remains??

hi people, Just to tag on this topic cos have some noobie questions abt this valuation thing; Recent paper reports suggest that resale market COV r dropping n there r some owners who r willing to ask for COV as low as 5k.. However, i can still c that some of the less than 10 years old or slightly >10++ years old 5-rm HDB resale AND NEW DIRECT HDB transactions remains at the range of 350k-420k for most mature estate. Not to mention those at "golden-area" like tiong bahru, AMK/redhill etc remains at above 500k for a 5 rm . So, does that means that due to inflation be it NEW or resale HDB is going to stay at the above mentioned range?? Which means bottomline of a new 5 rm flat has been raise at this level even at the next downturn? Or its gonna b another bishan estate during the early 90's where pple pay more they own then ?? Any humble or professional opinions on this?

hey ladies n guys.. thanks for e reply.. Hmmm.. seem like there's some queries on my side wif regard howcome the HDB officer i called told me that i m not eligible for fiancee scheme for direct sales in my application as a spore citizen+ spore PR also, resale levy doubts.. Anyway, as sole breadwinner doubt i wld remove my name from my present flat as parents didnt had too much CPF to "return", extra $$ might burn into my own pocket though it is refunding back to my own CPF acct. Say, jus got my reply letter for jan balloting.. application status as a 2nd timer=zero chances .. Hope our property market cool down soon. thanks again..