Hdb Proof Of Sale

[11eleventh 0]

In a sunday times news article ' hdb flat sellers left in tight spot by new rules ' dated 24 oct 2010, upon my second time read, i noticed this :

ONLY WITH THIS LETTER CAN THE SELLER EXERCISE AN OPTION TO PURCHASE ( regarding HDB official letter Proof Of Purchase ).

Anyone who is reading this please help.....is it true the hdb's proof of purchase is a CRITERIA to exercise OTP for the seller's next flat purchase ?????

[bepgof 20]

In a sunday times news article ' hdb flat sellers left in tight spot by new rules ' dated 24 oct 2010, upon my second time read, i noticed this :

ONLY WITH THIS LETTER CAN THE SELLER EXERCISE AN OPTION TO PURCHASE ( regarding HDB official letter Proof Of Purchase ).

Anyone who is reading this please help.....is it true the hdb's proof of purchase is a CRITERIA to exercise OTP for the seller's next flat purchase ?????

Warrior88, therat, forgotten, plastic3, any idea on this?

Edited December 2, 2010 by bepgof

[therat 18]

I had no idea what is that.

I even search HDB web, can't find anything abt letter Proof Of Purchase

[11eleventh 0]

i think i should have said 'proof of sale' letter from hdb. i hope this clears the confusion.

Here's another lines, quoted verbatim :

'The Monetary Authority of Singapore stipulates the proof of sale is the official letter from the HDB to the seller approving the deal.

The trouble is that this letter is typically issued only about six weeks before the legal completion of the sale.

Only with this letter can the seller exercise an option to buy his next flat '

full text can also be found in wealth1688articles.wordpress.com

same question stands : is the letter REALLY a requirement to exercise OTP ???

Edited December 2, 2010 by 11eleventh

[therat 18]

Ok..

now I understand.

That is for those existing HDB owner who is doing upgrading or downgrading.

Due to the new rule,2nd property is max 70%

So.. for those existing HDB owner who want to change HDB unit but buy 1st then sell.

When they exercise OTP, they need to apply 2nd property loan which will get max 70%.

But if they want to get 80% loan.

They need to proof that they had sell away existing HDB , so that they can entitle 80% loan for their purchase.

So.. if you presently does not serve any HDB loan and want to buy resale HDB. This letter don't applicate to you.

very complicated hor..

[11eleventh 0]

thanks mr therat....you are a guy right ????

i want to be a real estate salesperson....what i found it daunting is that.... even with

HDB as a subject, regardless how much i delve into it...read up...left..right and.. down

break all the nuances into small digestible pieces....it is still laden with grey areas.

i realised that to really prepare myself, just going to an HDB website and absorb all

the issues is still insufficient....i still need to go to forums such as this one to listen

to people talk...see what's happening on the ground.....how practitioners resolve issues....

thanks again mr therat !!

[Plastic3 0]

thanks mr therat....you are a guy right ????

i want to be a real estate salesperson....what i found it daunting is that.... even with

HDB as a subject, regardless how much i delve into it...read up...left..right and.. down

break all the nuances into small digestible pieces....it is still laden with grey areas.

i realised that to really prepare myself, just going to an HDB website and absorb all

the issues is still insufficient....i still need to go to forums such as this one to listen

to people talk...see what's happening on the ground.....how practitioners resolve issues....

thanks again mr therat !!

If you really become a Real Estate Salesperson....you'll realise just knowing all the HDB rules isn't enough.

Some customers expect you to know everything, if you take more than 5 seconds to think about anything...you may lose them as customers.

[11eleventh 0]

hi mr plastic3 !!!

immenseness of HDB's facts, figures and details notwithstanding,(....ooh brother

they are really mindboggling...takes me months trying to break the "code", and still

brother mah bow tan come up with yet another slew of HDB rules and regulations...)

it continues to stump me how some ah sohs and aunties can still get into this industry

and broker a few deals....well of course with CEA rules, and the demands of the RESALE CHECKLIST

only true warriors will prevail....

[therat 18]

hehe... sorry ahhh

I'm Ms.. not Mr lah.

My understanding on HDB is from heavy reading from forum , newspaper and HDB web.

I only read those that will affect me.

If you ask me abt simi grant la, BTO la, new HDB la.. this one I don't know liao

[bepgof 20]

If you really become a Real Estate Salesperson....you'll realise just knowing all the HDB rules isn't enough.

Some customers expect you to know everything, if you take more than 5 seconds to think about anything...you may lose them as customers.

To be an effective real estate agent, good to have:

- Property knowledge (under construction, resale, HDB, private, commercial/industrial)

- Relevant business law

- Global/domestic economic knowledge/update

- Effective HR skills

- Plansant looking(subjective)

- Kowledge of fengshui

- Bankers, laywers, clients databbase

- Solid past transaction databases

- Honesty, sincerity, dignity with pride

- Having above will have mkt "sentiment"....

Edited December 3, 2010 by bepgof

[therat 18]

If you really become a Real Estate Salesperson....you'll realise just knowing all the HDB rules isn't enough.

Some customers expect you to know everything, if you take more than 5 seconds to think about anything...you may lose them as customers.

some agent take less than 5 sec to answer my question.

But wrong answer, they also lost 1 customer.

Want to smoke me...

[therat 18]

To be an effective real estate agent, good to have:

- Property knowledge (under construction, resale, HDB, private, commercial/industrial)

- Relevant business law

- Global/domestic economic knowledge/update

- Effective HR skills

- Plansant looking(subjective)

- Kowledge of fengshui

- Bankers, laywers, clients databbase

- Solid past transaction databases

- Honesty, sincerity, dignity with pride

- Having above will have mkt "sentiment"....

bro, if any agent can know all these. They must at the top chain liao.

Those top chain one will interested on those HDB business mah..

Commission not enough for them to eat.

[bepgof 20]

i think i should have said 'proof of sale' letter from hdb. i hope this clears the confusion.

Here's another lines, quoted verbatim :

'The Monetary Authority of Singapore stipulates the proof of sale is the official letter from the HDB to the seller approving the deal.

The trouble is that this letter is typically issued only about six weeks before the legal completion of the sale.

Only with this letter can the seller exercise an option to buy his next flat '

full text can also be found in wealth1688articles.wordpress.com

same question stands : is the letter REALLY a requirement to exercise OTP ???

This garanteed will be a GE rally topic. Why MAS's letter to seller comes "late"?

This directly forces the HDB seller(sell & buy hdb)(seller has only this property)to "rent" to stay put before his next purchase of hdb unit is ready for occupation. This is to "deter" hdb sellers from buying hdb again. Tio bo?

My questions:

1. Does this "letter" effect to those sellers with existing loan yet wish to enjoy 80% loan for next purchase ?

2. This letter applies to those sellers(sell hdb & buy hdb)who take 70% loan as well?

3. Applicable to hdb sellers who buy private ?

Edited December 3, 2010 by bepgof

[bepgof 20]

bro, if any agent can know all these. They must at the top chain liao.

Those top chain one will interested on those HDB business mah..

Commission not enough for them to eat.

I knew of one lady agent (3 boys, husband also agent)of "mentor" level, really impress me. She arms with above-mentioned knowledges.

Her cooking skill also tokong. She talked to my MIL abt cooking stuff, mil said her cooking know-how is I keke "sour" her, wow she gave us her homemade yong tau foo and the 佛跳墙。

Too bad, she doesn't know much abt those plants I planted( Eventually, I sold the unit to a buyer whose P5 daughter knew names of all the plants I planted!)This buyer did not make offer/counter offer during viewing, instead, I asked agent to call them down & talk and finally deal closed. So to add another 2 "good to have" to be effective real estate agent:

- Cooking skills

- Plants knowledge

Edited December 3, 2010 by bepgof

[therat 18]

I knew of one lady agent (3 boys, husband also agent)of "mentor" level, really impress me. She arms with above-mentioned knowledges.

Her cooking skill also tokong. She talked to my MIL abt cooking stuff, mil said her cooking know-how is I keke "sour" her, wow she gave us her homemade yong tau foo and the 佛跳墙。

Too bad, she doesn't know much abt those plants I planted( Eventually, I sold the unit to a buyer whose P5 daughter knew names of all the plants I planted!)This buyer did not make offer/counter offer during viewing, instead, I asked agent to call them down & talk and finally deal closed. So to add another 2 "good to have" to be effective real estate agent:

- Cooking skills

- Plants knowledge

wah liao..

want to do your business very hard la.

Must know how to cook

must know plant

If I change line to property agent, confirm cannot get your business.

I don't know how to cook except fried rice, fried mee, anything fried is easy

plant.. siao liao.. I confirm straight F9 on this subject.