Resale Levy

[tweetie76 0]

If I bought an HDB 3rm resale flat (without CPF housing grant) 3 years ago and I intend to sell it in the open market. Do I have to pay resale levy?

For your information, prior to my present flat, I had sold a 5rm flat which was bought directly from HDB.

If yes, how much will by levy be?

Edited August 8, 2007 by tweetie76

[raincole 0]

Nope.

Do you intend to buy another house?

[tweetie76 0]

Nope.

Do you intend to buy another house?

Really no need to pay resale levy if i m getting 2nd new flat from HDB ? what is the minimum occupation that i need to fulfil in my resale flat?

i intend to sell the 3rm resale then get a new 4 rm from HDB

[raincole 0]

Really no need to pay resale levy if i m getting 2nd new flat from HDB ? what is the minimum occupation that i need to fulfil in my resale flat?

i intend to sell the 3rm resale then get a new 4 rm from HDB

If you intend to get another susidised flat (which is the 4 rm new flat from HDB), then yes. If only sell, then no.

And your first susidised flat is the 5rommer, then ur resale levy will be on that 5-rm (NOT 3-rm). 45K!

How did you manage to get the new 4-rm flat? I've tried and failed. Is the 5-rm with your mother?

You are very lucky. Where is it?

MOP also depend if HDB loan or bank loan lor

Edited August 8, 2007 by raincole

[tweetie76 0]

If you intend to get another susidised flat (which is the 4 rm new flat from HDB), then yes. If only sell, then no.

And your first susidised flat is the 5rommer, then ur resale levy will be on that 5-rm (NOT 3-rm). 45K!

How did you manage to get the new 4-rm flat? I've tried and failed. Is the 5-rm with your mother?

You are very lucky. Where is it?

MOP also depend if HDB loan or bank loan lor

hi raincole,

sorrie to mention that i m not so lucky..my question start with IF..i m still staying in my first subsidied 5rm flat..i thot of downgrading(to 3rm resale), then buy 2nd subsidied 4rm flat..but if need to pay levy, i hv to think thrice now

anyway, the 4rm flat ballot is out this friday, do try your luck !

btw,if i buy 3 rm resale, can i take HDB loan?

[raincole 0]

Don't think so cos you aren't upgrading.

The sale from your flat should cover most of the new flat lor.

[gladysbeyond 1]

Don't think so cos you aren't upgrading.

The sale from your flat should cover most of the new flat lor.

i upgraded le... but hdb still asked me to pay 40k levy.. sian..

i just paid yest... with much heartpain

[raincole 0]

Yar la. But in your case it is a lump sum and not certain % of sale, so can consider yourself lucky

[tweetie76 0]

i upgraded le... but hdb still asked me to pay 40k levy.. sian..

i just paid yest... with much heartpain

hi gladysbeyond

you upgrade to 2nd new flat from HDB ?i think it does not matter whether u upgrade or downgrade, as long as u purchase 2nd NEW flat from HDB, there will be levy, correct ?

if resale, then no need levy correct?

[therat 18]

hi gladysbeyond

you upgrade to 2nd new flat from HDB ?i think it does not matter whether u upgrade or downgrade, as long as u purchase 2nd NEW flat from HDB, there will be levy, correct ?

if resale, then no need levy correct?

if resale, don't get the grant, yes no need levy

but if apply for grant, levy will come into the pic

[hello88 2]

if resale, don't get the grant, yes no need levy

but if apply for grant, levy will come into the pic

ya, levy wld come into the pic once u apply for a new flat from HDB.

for instance,

here's the scenario -

1st resale flat, took grant & eligible for HDB housing loan

2nd resale flat, no more grant but still eligible for HDB housing loan if u're upgrading

Years later, u might decide to apply for a new flat from HDB, then u need to pay the Cash Levy from that 1st resale flat u sold PLUS the interest accummulated from the year u sold your 1st flat to the year u apply for the new flat

1st flat from HDB (already subsidised rate) & eligible for HDB housing loan

2nd flat, a resale but still eligible for HDB housing loan if u're upgrading

1st flat from HDB (already subsidised rate) & eligible for HDB housing loan

2nd flat also from HDB flat & eligible for HDB housing loan if its bigger flat BUT U NEED TO PAY CASH LEVY AFTER U SELL OFF YOUR FIRST FLAT