Pls Advice

[kk53 0]

I had exercised option ( paid deposit 5k )for resale HDB flat and received letter for 1st appointment, later about 10days received another letter from HBD branch office that they cancelled the application because the seller are not eligible to sell the flat that they had annulled their relationship. Don't know what to do, difficult to find flat and found one got problem

[chronograph 0]

I had exercised option ( paid deposit 5k )for resale HDB flat and received letter for 1st appointment, later about 10days received another letter from HBD branch office that they cancelled the application because the seller are not eligible to sell the flat that they had annulled their relationship. Don't know what to do, difficult to find flat and found one got problem

do u have an agent to represent u?

[asoon88 0]

I had exercised option ( paid deposit 5k )for resale HDB flat and received letter for 1st appointment, later about 10days received another letter from HBD branch office that they cancelled the application because the seller are not eligible to sell the flat that they had annulled their relationship. Don't know what to do, difficult to find flat and found one got problem

If you have an agent, get him to make the couple return the deposit. You should at least get back $4K. $1K option to purchase fee is gone (partly to the agent). Otherwise, escalate the matter to his agency.

Question : Why didn't you check the background of the couple and the reasons why they are selling the flat ? These are questions that buyers must ask no matter how insensitive it may sound.

[therat 18]

I don't quite understand few thing

1. why only get back 4k?

2. why the $1k option to purchase fee is gone?

[mk2000 0]

I don't quite understand few thing

1. why only get back 4k?

2. why the $1k option to purchase fee is gone?

ya.. i think you should get back all, 5k.

[alamak 0]

If you have an agent, get him to make the couple return the deposit. You should at least get back $4K. $1K option to purchase fee is gone (partly to the agent). Otherwise, escalate the matter to his agency.

Question : Why didn't you check the background of the couple and the reasons why they are selling the flat ? These are questions that buyers must ask no matter how insensitive it may sound.

how to check? if they dun want to disclose, there's no way to find out till something happens.

[forgotten 1]

I used one agent to arrange unit viewings, while my hubby called up seller agents from the newspaper ads to arrange unit viewings.

My hubby viewed a few units. One of them had lower valuation price due to the poorer house condition. It was rented out to a big group of students. The seller's agent requested for only 5K cov, which was the lowest cov we were ever quoted. The seller was not present.

Out of curiousity, I asked my agent why she didn't arrange us to view that particular unit? I provided her with only the block number, and she was able to reply me with its floor level and the whole house was rented out. LOL~ she said she and her partner already viewed that unit and did a check on the seller's background with bankers. The seller was declared bankrupt, and his bank forced him to sell it off to repay his debts. She warned that the seller might borrow from loansharks using that unit's address on his NRIC.

Heng ah! We never purchase that unit though my hubby was a bit keen on it as it was cheaper than the other units. The seller's agent lied to us that the seller wasn't present, as he had migrated to another country. It'll be hard for buyers to find out the situation of the seller if the seller and seller's agent are bend on hiding things from us!

I'll definitely continue to engage her as our buyer agent and pay her the full 1% because she's prompt in reverting, gives good service and knows her stuff well.

Edited October 24, 2009 by forgotten

[forgotten 1]

ya.. i think you should get back all, 5k.

I also think you should get back 5K + $180 (valuation report)!

[Guest Goobii]

Take back $5k + $180 valuation fee + $80 admin fee

Ask the agent representing you for the valuation and admin fee ... the $5k ask your agent to chase the seller for it...

Else ... pay $5 and report to case

[asoon88 0]

I also think you should get back 5K + $180 (valuation report)!

It's a failed sale.

The initial $1K is usually split between seller and the seller's agent. Unless both seller and his agent are 'decent people', they will not return a cent to the potential buyer.

The same goes for the valuation report. You won't get a cent back because it is already done. Valuation company has been paid for their services. Submission charges to HDB of $80 is burnt too. Unless all parties including the HDB are "decent people", the poor buyer will have to accept the losses.

[raincole 0]

It's a failed sale.

The initial $1K is usually split between seller and the seller's agent. Unless both seller and his agent are 'decent people', they will not return a cent to the potential buyer.

The same goes for the valuation report. You won't get a cent back because it is already done. Valuation company has been paid for their services. Submission charges to HDB of $80 is burnt too. Unless all parties including the HDB are "decent people", the poor buyer will have to accept the losses.

IMO, can get back 4k. Get from seller.

The rest gone.

[swift 0]

I had exercised option ( paid deposit 5k )for resale HDB flat and received letter for 1st appointment, later about 10days received another letter from HBD branch office that they cancelled the application because the seller are not eligible to sell the flat that they had annulled their relationship. Don't know what to do, difficult to find flat and found one got problem

Interesting case, but not to worry, you are entitled to get every single cent back.

Clause 15 of your Option to Purchase

15. Non-approval of sale and purchase

15.1 If the HDB’s approval for the sale or purchase of the Flat is not obtained, is refused or is revoked before the Completion Date and it is not due to the Seller’s or Buyer’s default in complying with the HDB’s terms of resale or requirements 

(a) the sale and purchase will be cancelled;

(b) this Option will be rescinded and become null and void and of no further effect;

© the Seller will immediately, without demand, refund to the Buyer the Option Fee, Option Exercise Fee and any other monies paid by the Buyer to the Seller, without any interest or deduction;

(d) each party will bear his own costs in the matter; and

(e) neither party will have any other claim against the other.

Perhaps you may wish to write to HDB. I'm sure they will advise promptly.

http://services2.hdb.gov.sg/webapp/BE05Fee...20Resale%20Flat

Anyway, the sellers will soon serve their dues... for if they had falsefully declared their eligibility to sell.

Section 60 of Housing & Development Act

It is an offence for any person to give false information to HDB in relation to the buying/selling of an HDB flat. Any person who gives false information shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 or to imprisonment for a term not exceeding 6 months or both.

On a separate note, Kudos to HDB, for coming out with such stances, so as to deter couples who try to fake marriages*, so as to purchase flats at subsidised pricing in view of making profit.

*Annulling marriage after obtaining flats.

Edited October 27, 2009 by swift

[mk2000 0]

I still don't understand why 1k is gone. I'm currently selling and buying a resale unit(contra) and I won't pay single cent until my transaction is completed(ie: after 2nd appointment).

Btw, both myself and my seller don't have an agent. so, 0 commission there. I did all the paper work. It was very easy.

I have agreed to pay 1% comm my buyer's agent(after 2nd appointment) even though I do the paper work my own.

[kk53 0]

I had exercised option ( paid deposit 5k )for resale HDB flat and received letter for 1st appointment, later about 10days received another letter from HBD branch office that they cancelled the application because the seller are not eligible to sell the flat that they had annulled their relationship. Don't know what to do, difficult to find flat and found one got problem

Thanks Every body here to advise, luckily get back 5k+180+80, which paid to both seller and seller's agent.

[testery 0]

I don't quite understand few thing

1. why only get back 4k?

2. why the $1k option to purchase fee is gone?

Omg Where is your 1K?? do they say where it going??