gimz63251073 0 Report post Posted July 23, 2010 I sold my house with a good profit . i was waiting for property to crash badly so i can buy EM at the same price of the 4 room i sold. Never did i expect 50% rule coz i was upgrading. I earn around 8k but i solely depend on the cash profit to pay for COV reno etc etc. pls buy my story congrats on making the profit. too many people sitting on unrealised paper profits and they are all smiling! how come u go and realise the profit? now cannot smile already.... Share this post Link to post Share on other sites
bepgof 20 Report post Posted July 23, 2010 (edited) hmm, no idea what he intends to do with that rule anyway. My view is that they have set too many complicated rules already! This 50% thingy will make people think twice about changing flats... not sure if it aids in controlling every increasing prices? Or maybe his colleagues at HDB already overworked, so he try to lessen their burden? haha... ministers always talk until very cheem, but they always evade the point. only MM is direct to point. Accept floods. Sure this is a zero sum game with "bad" cause & "ill" effects for buyers. Imagine I sent a simper written enquiry to HDB on 17/7/10 and got a written reply back on 22/7/10, some more, was a wrong reply! Luckily got a great Warrior88 asked me a for a flavour (no coffee le) to counter-reply the HDB, she admitted wrong reply = "own" ppl also get confused with their company's rules! Shame shame shame. When I in good mood, will send them a tokong tokong writeup, suggesting them to put all these rules in Fish Bone method and flow chart, in the hope to win me a "the most innovative suggestion" award in years to come, sigh, day dreaming again. History reveals those who make things happen dare to dream. Sure MM knows the power of Mother Nature very well. Time waits for no people. Edited July 23, 2010 by bepgof Share this post Link to post Share on other sites
ngunadi 2 Report post Posted July 23, 2010 Sure this is a zero sum game with "bad" cause & "ill" effects for buyers. Imagine I sent a simper written enquiry to HDB on 17/7/10 and got a written reply back on 22/7/10, some more, was a wrong reply! Luckily got a great Warrior88 asked me a for a flavour (no coffee le) to counter-reply the HDB, she admitted wrong reply = "own" ppl also get confused with their company's rules! Shame shame shame. When I in good mood, will send them a tokong tokong writeup, suggesting them to put all these rules in Fish Bone method and flow chart, in the hope to win me a "the most innovative suggestion" award in years to come, sigh, day dreaming again. History reveals those who make things happen dare to dream. Sure MM knows the power of Mother Nature very well. Time waits for no people. Maybe should arrange coffee session ler. Still owe you 1 coffee, not nice to owe ppl Share this post Link to post Share on other sites
ME1548 0 Report post Posted July 23, 2010 Is it really fair to those who sold away their flats way before march 2010, and thereafter getting a flat but found themselves subjected to return 50% of cash proceed to cpf account? I think our dear minister's body is itchy, need some scratching. He siad those words very cheem which I, ah pek, don't understand abt "fairness" and "making a lot of money". What exactly he was trying to signal? Why don't put this rule subject to only those who sold after Mar 2010, his body is really itchy? isn't it? Wonderful part is got ppls want to scratch for him untill he bleed. If he dares to change the rules to those taking bankloan, sure die flat flat immediately, need not to wait till GE. Hi Regarding the 50% cash must refund to cpf is referring to COV or the profit from selling hdb. Example: I get COV for selling my 4room flat : cash 35k and total profit from selling the 4room flat is 90k , which mean hdb will bank in 90k cash for me. Just would like to clarify with you 50% is from cov 35k or profit from selling hdb 90k? Share this post Link to post Share on other sites
Warrior88 0 Report post Posted July 23, 2010 Hi Regarding the 50% cash must refund to cpf is referring to COV or the profit from selling hdb. Example: I get COV for selling my 4room flat : cash 35k and total profit from selling the 4room flat is 90k , which mean hdb will bank in 90k cash for me. Just would like to clarify with you 50% is from cov 35k or profit from selling hdb 90k? It's the cheque that HDB present to you, which is 125K, "cash proceeds", 50%=62.5k So, use 25k which lower. Oh! the cash proceeds,,, I remember now. Get to hold for a while. Then wife hold my hands, look at me in the eyes. " Come, dear. Lets drop this in the bank " And that was the last time I see it Share this post Link to post Share on other sites
ME1548 0 Report post Posted July 23, 2010 It's the cheque that HDB present to you, which is 125K, "cash proceeds", 50%=62.5k So, use 25k which lower. Oh! the cash proceeds,,, I remember now. Get to hold for a while. Then wife hold my hands, look at me in the eyes. " Come, dear. Lets drop this in the bank " And that was the last time I see it Hi If HDB cheque is issue 125k , which mean i need to transfer 62.5k into my CPF and only can get the cash 62.5k If HDB cheque is issue 45k which mean i need to transfer 25k into my CPF and only get the cash 20k? Please correct me if i am wrong. Share this post Link to post Share on other sites
Warrior88 0 Report post Posted July 23, 2010 I sold my house with a good profit . i was waiting for property to crash badly so i can buy EM at the same price of the 4 room i sold. Never did i expect 50% rule coz i was upgrading. I earn around 8k but i solely depend on the cash profit to pay for COV reno etc etc. pls buy my story Mr Mah felt that home buyers like you, were ‘rare’, as most bought a second flat soon after they sold their first. Still, he promised to "REVIEW" appeals on a case-by-case basis. Mr Mah busy going to Hainan Island, investing in property, but promise to read your appeals. HE must buy your story Share this post Link to post Share on other sites
Warrior88 0 Report post Posted July 23, 2010 Hi If HDB cheque is issue 125k , which mean i need to transfer 62.5k into my CPF and only can get the cash 62.5k If HDB cheque is issue 45k which mean i need to transfer 25k into my CPF and only get the cash 20k? Please correct me if i am wrong. You still get the 125k cheque, but when you buy your next purchase. You have to fork out this 25k as cash. No transfer .... etc. Or, you may choose to let me manage this 25k for you first 50% of the cash proceeds or $25,000, whichever is lower. HDB not loan to you. So, your max cash affected only $25,000 Aiya, still your money la, don't worry. Share this post Link to post Share on other sites
Warrior88 0 Report post Posted July 23, 2010 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’. Can anyone enlighten me, how this work ? ‘perverse incentive’ Share this post Link to post Share on other sites
ME1548 0 Report post Posted July 23, 2010 You still get the 125k cheque, but when you buy your next purchase. You have to fork out this 25k as cash. No transfer .... etc. Or, you may choose to let me manage this 25k for you first 50% of the cash proceeds or $25,000, whichever is lower. HDB not loan to you. So, your max cash affected only $25,000 Aiya, still your money la, don't worry. If i get 125k cheque from hdb so when i buy my next purchase, which mean i MUST pay 62.5k cash (50% of 125k) for my 2nd unit? Do correct me if i am wrong? Is there any affect for those is apply bank loan? Share this post Link to post Share on other sites
Warrior88 0 Report post Posted July 23, 2010 If i get 125k cheque from hdb so when i buy my next purchase, which mean i MUST pay 62.5k cash (50% of 125k) for my 2nd unit? Do correct me if i am wrong? Is there any affect for those is apply bank loan? No... 50% of the cash proceeds or $25,000, whichever is lower. In your case, $25,000 is lower. So you only fork cash $25,000 Bank Loan, no such rule, but not everybody get approval in principle (AIP) loan. So, if 400k hse, if bank loan, base on 5% = 20k cash But don't forget advantage of HDB loan Share this post Link to post Share on other sites
bepgof 20 Report post Posted July 23, 2010 (edited) You still get the 125k cheque, but when you buy your next purchase. You have to fork out this 25k as cash. No transfer .... etc. Or, you may choose to let me manage this 25k for you first 50% of the cash proceeds or $25,000, whichever is lower. HDB not loan to you. So, your max cash affected only $25,000 Aiya, still your money la, don't worry. Ah Pek, don't confuse him/her. Only "backside itchy ppls" - Those who likes and takes 2nd HDB "concessionary" loan, kena this policy during 2nd puchase of HDB flat, whether upgrade or downgrade. What's so great abt this HDB "concessionary" loan? Only ppls who "eat" banks' money a lot till he can't pay up & being sued and declared a bankcruptcy, then seiously took this HDB "concessionary" loan - bankruptcy's hdb flat won't be auctioned out! He still has "a roof over his head" as what the gov always like to say. Edited July 23, 2010 by bepgof Share this post Link to post Share on other sites
bepgof 20 Report post Posted July 23, 2010 (edited) If i get 125k cheque from hdb so when i buy my next purchase, which mean i MUST pay 62.5k cash (50% of 125k) for my 2nd unit? Do correct me if i am wrong? Is there any affect for those is apply bank loan? Never read my previous post, if he dares to extend/effect this rule to those who take bankloan, he will die flat flat immediately, need not to wait till GE. PM has learnt a good lesson from Dr.Ng. He cannot tahan another heart attack! His hands has just applied some grease to the Environmental M's backside, heart is still now pumping fast, praying for Mother Nature's mercy. Edited July 23, 2010 by bepgof Share this post Link to post Share on other sites
Warrior88 0 Report post Posted July 23, 2010 Ah Pek, don't confuse him/her. Only "backside itchy ppls" - Those who likes and takes 2nd HDB "concessionary" loan, kena this policy during 2nd puchase of HDB flat, whether upgrade or downgrade. What's so great abt this HDB "concessionary" loan? Only ppls who "eat" banks' money a lot till he can't pay up & being sued and declared a bankcruptcy, then seiously took this HDB "concessionary" loan - bankruptcy's hdb flat won't be auctioned out! He still has "a roof over his head" as what the gov always like to say. 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. Share this post Link to post Share on other sites
salavanun 0 Report post Posted July 23, 2010 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. Share this post Link to post Share on other sites
