Only Can Buy Resale...advise Pls

[Phantom 1]

I am looking at Tampines blk 842 , around St Hilda's Pri Sch.

Got my agent to contact them, but seller agent all says no co broke

cause that area sell like hot cakes, they want both sides commission.

So boh pian, call myself, seller agent told me if offer at 15~20k

no need to find, cos don't have, min 30k. So I wait loh, hope to find a desperate seller

Dude, thats a nice area too. I viewed somewhere around that area too.. i think really next door type.. but can't remember the exact unit or block.. lol..

I won't be surprised, due to the market uncertainty.. more people going over to HDB.. hence teh prices..

sometimes i wonder if its worth to pay over the hill money for HDB.. oh well..

i'm a poor bloke.. always looking for the cheap green and good lobang.. heh heh...

if you can wait.. why not, you could meet someone desparate like i did.

[Warrior88 0]

Dude, thats a nice area too. I viewed somewhere around that area too.. i think really next door type.. but can't remember the exact unit or block.. lol..

I won't be surprised, due to the market uncertainty.. more people going over to HDB.. hence teh prices..

sometimes i wonder if its worth to pay over the hill money for HDB.. oh well..

i'm a poor bloke.. always looking for the cheap green and good lobang.. heh heh...

if you can wait.. why not, you could meet someone desparate like i did.

Actually, I hate Tampines, dread that place with all the traffice lights.

But no choice leh, St Hildas, 2 kids this year, next year, all 3 muskeeters.

Bus transportation already cost me more than $200.

Wait, of course wait, must still tahan. Not worth paying over the "MOUNTAIN"

I park car the reverse way, always ready for a quick exit.

Cannot cheong liao, got many ppl to answer to.

[Phantom 1]

Actually I don't really like Tampines. lol..

We find the place too crowded for our liking which is why we decided Simei. Really quiet little town..

lol.. I understand your predicament.. i guess when we have kids... we could be in the same situation as you..

[icer 0]

Why do you need 5% cash downpayment for resale flats? 5% cash is only for private properties right?

The cash u need will be the amount above valuation.

[Warrior88 0]

Actually I don't really like Tampines. lol..

We find the place too crowded for our liking which is why we decided Simei. Really quiet little town..

lol.. I understand your predicament.. i guess when we have kids... we could be in the same situation as you..

Yo.... we can exchange houses since by them my kids are big and I need yr quiet little town.

I wouldn't mind Ponggol either, eco friendly and reasonalby budget.

[applefreak 1]

Why do you need 5% cash downpayment for resale flats? 5% cash is only for private properties right?

The cash u need will be the amount above valuation.

5% cash is for bank loan, regardless of the type of property

[Phantom 1]

Yo.... we can exchange houses since by them my kids are big and I need yr quiet little town.

I wouldn't mind Ponggol either, eco friendly and reasonalby budget.

Dude,

that could work.. lol...

[icer 0]

Gosh.

Which means if I am a single and my income is above $3k, I cannot get the HDB loan so I have to get bank loan? Then it will be 5% cash + any amount above valuation?

Wow, where got so much money?

5% cash is for bank loan, regardless of the type of property

[applefreak 1]

what to do? they always say the government policy is 'pro-family' :furious:

[lemontea78 0]

btw, will you consider staying with your parents?

coz i think there's a 'extended family' scheme where the household income limit for applying new flat is $12k !!

but still got to take bank loan

thks for your reply and sorry for this late reply of mine.....been busy the last 2 weeks....

unfortunately my parent's place got 3rd registered owner; my bro. They did that so they could extend loan....no choice they not well off... Other than combined income for this case already more than 12k, its a bit crowded there....

her parents are ok, but i dont think my folks would like their son to stay at the in-law's place...traditional chinese thinking....

If basic salary exceeds the 8k level, then pretty unlikely that an appeal is successful. If its more like variable components that exceed the 8k, then quite possible to argue and get it appealed, had a friend who was in such a case.

Consider buying a smaller unit if the amount to fork out is abit out of your budget.

I still think there are properties around that do not require any top up on the valuation. I bought my just around valuation.

Currently, there are alot of sellers for private properties.. buyers are taking a back seat. you could want to wait awhile?

Nonetheless, you can try and appeal with regards to getting hdb loan.

unfortunately its fixed basic monthly salary for me here....so confirm exceed.....

we are already considering 3-rm resale flat to fit our budget..... but i feel downside is that the current property upturn has made prices too high....next time if i want to sell may not get same price....so it'll be good to get new flat....

also cant really wait since wedding date is fixed....guess this is depend on heng-suay one...if not i am in the opinion that should not get property now...

plus my thinking is since i cannot apply new flat (which i thought, clarified with hdb liao and was told of buffer so still can apply new flt), i might as well choose a good location as i think location is everything...

It is still possible to get a new HDB flat when your combined income exceeds 8k. My combined income with my fiancee exceeded 9k and we wrote an appeal letter to HDB to participate for the Feb 07 ballot. From my understanding from HDB, they do allow couples to buy new HDB unit if the combined income exceeds 8k by not more than 5%. You can try talking to a HDB staff to find out more.

For my case, my appeal was approved and I managed to purchase an EA unit in BP. However, my HDB loan is not approved and I had to get a commercial loan instead.

thks for providing this info.... my finacee had also called up hdb earlier and was told about the 'buffer'...didn't know its 5%, but since mine just exceeds 8k ceiling only by a little bit, we definitely can apply new flat....especially since u exceeded more than ours and can still get....

only problem is that no govt grant, have to take bank loan and current new flats not good locations....all at north east or north....my workplace is west, my fiancee's in town, so we prefer somewhere central....plus since the only plus point in getting new flat is only the fact that its new, then ithink i should consider resale as well....the pros and cons quite even out IMHO....

Edited September 20, 2007 by lemontea78

[raincole 0]

I think you are lucky to be those having 8k income.

[lemontea78 0]

I think you are lucky to be those having 8k income.

we do feel fortunate...but in this case its both a happy yet sour kind of feeling....

we are cash poor after paying all those study loans....that's why all these concerns....

May i ask if i want to do an appeal for hdb loan, who do i address it to in hdb?

We tried calling them to ask but were met with 'no-appeal' replies.... !! can't even appeal?!....

Edited September 23, 2007 by lemontea78