HDB suck all times .....
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My first flat was sold years ago and there was levy which I paid. I bought this 3 rms in the open market for 250k. After 5 years, I bought a 5 rms in another town. But the 3 rm flat no one want. The property agent also cannot help. I approach HDB branch office. They say HDB can take back but at 10% below HDB valuation. I say ok as at that time I did the valuation was 200k. Then after two years they say can take back and they appoint a valuer which value my flat as $188k. ( I thought there were report that HDB flat value go up, I might had heard wrongly ). Anyway, I was willing to sacrifice as I am now servicing two loan, very xiong... Then the officer say got to sent valuer to value my five rooms to see if the valuation is higher than the 3 rm. If higher, I got to pay at higher fee. I asked him what have my 5 rm got to do with the 3 rm? He say, this is HDB policy. He also cannot explain... lol ... Now I really don't know what to do ...Originally posted by shade343:Call news radio 938!
Btw, can you explain your situation abit clearer to me? I dont quite get your problem here.... -
What I don't understand is that they have a surplus of 5 room flats that they are trying to get rid of
Maybe they are trying to get back some of their loss having to advertise for these flats
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A few years ago, there were already so much huha on HDB builting new flat when there are surplus. They just don't care and continue to built, built, built. Even recently, they luanch the built on demand when surplus flat still cannot get rid of.. can anyone explain the logic ??Originally posted by elindra:What I don't understand is that they have a surplus of 5 room flats that they are trying to get rid of
Maybe they are trying to get back some of their loss having to advertise for these flats -
if they die die dun build new flats but want people to take the surplus...people sure complain one mah...want to do certain things also have to wayang a bit...dun do until so obvious...Originally posted by ORIGAMIST:they luanch the built on demand when surplus flat still cannot get rid of.. can anyone explain the logic ?? -
man i feel for you. the HDB is like a trap to stay married!!!!Originally posted by surfer188:Read my case:
Bought 4-room HDB at $255,000 with a $50,000 grant last time. The grant has a 5 years force stay-in period.
Caught wife with boyfirend 3 years into marriage. Wanted to go Divorce.
Luckily I ask HDB about the house & grant issue.
HDB says: "Since you cannot maintenan your family nuclar & you have not satified the 5 years force stay-in period. You only can surrend your flat to HDB."
I ask: "So what is this surrend was."
HDB says: "Surrend is HDB take back your flat at 25% of the evaluation cost. You have to pay the balance in cash."
I ask: "So how much was that?"
HDB says: "if your flat is $250,000 evaluated, HDB only pays you $62500. The other $187500 + Interest you pay in Cash. Also you will be tax 24.5% of the new flat cost upon buying a new flat from HDB because of the grant you have taken. Of course you can choose to buy a re-sale flat which there will not be this tax."
I was SHOCKED
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I think it's because it's cheap to build and the profit margin is enormous. That's why they can afford to have many unsold and keep building.Originally posted by ORIGAMIST:A few years ago, there were already so much huha on HDB builting new flat when there are surplus. They just don't care and continue to built, built, built. Even recently, they luanch the built on demand when surplus flat still cannot get rid of.. can anyone explain the logic ?? -
it means that husband and wife must 50% 50% pay for the HDB.Originally posted by sinicker:man i feel for you. the HDB is like a trap to stay married!!!!
so, if divorce, not so xiong! -
Marriage in Singapore is a very bad idea because when it breaks down, the full weight of the system comes crashing down on you.
Originally posted by surfer188:
Read my case:
Bought 4-room HDB at $255,000 with a $50,000 grant last time. The grant has a 5 years force stay-in period.
Caught wife with boyfirend 3 years into marriage. Wanted to go Divorce.
Luckily I ask HDB about the house & grant issue.
HDB says: "Since you cannot maintenan your family nuclar & you have not satified the 5 years force stay-in period. You only can surrend your flat to HDB."
I ask: "So what is this surrend was."
HDB says: "Surrend is HDB take back your flat at 25% of the evaluation cost. You have to pay the balance in cash."
I ask: "So how much was that?"
HDB says: "if your flat is $250,000 evaluated, HDB only pays you $62500. The other $187500 + Interest you pay in Cash. Also you will be tax 24.5% of the new flat cost upon buying a new flat from HDB because of the grant you have taken. Of course you can choose to buy a re-sale flat which there will not be this tax."
I was SHOCKED -
I sold my 4-rm flat (bought direct from HDB) after staying for 7 years and downgraded to a 3-rm flat. During the 1st appt, HDB gave me two options (i) to pay levy during 2nd appt or (ii) when I intend to buy a 2nd susidised flat (with 5% p.a of the levy haven't paid). I declined to pay the levy. Now my parents intend to stay with me and decided to buy a 5-rm flat. Recently HDB going to launch those unsold 5-rm flat thru pty agent. Have enquired, don't need to pay any levy since HDB consider it as a resale flat. Luckily never pay the levy earlier.Originally posted by ORIGAMIST:I lived in a 3 room flat. Two years ago decided to move to five rooms as children grown up and both parents want to live with me. The 3 rooms flat did not have lift at all and no one want to buy. After trying to sell for two years, spoke to HDB who is ok to buy back. They sent valuer to value the flat at $188k. ( I bought at $250 k ). We must pay penalty of 10% which is 18k. BUT HDB also want to value current 5 rooms flat also. IF the value is higher, the penalty will based on 5 rooms. I asked, if my five rooms is worth $300k ( I bought at $320K ) then the penalty will be $30k. HDB will take back my flat at ( $188k - $30K), which will be $158k. I will lose about $92K !!!!!
HDB is blood sucking poor citizen who is in desperation !!!!! Now, I got to servce two loans ... How to tahan???? -
what kind of 3 rm is that? 250k?Originally posted by ORIGAMIST:My first flat was sold years ago and there was levy which I paid. I bought this 3 rms in the open market for 250k. After 5 years, I bought a 5 rms in another town. But the 3 rm flat no one want. The property agent also cannot help. I approach HDB branch office. They say HDB can take back but at 10% below HDB valuation. I say ok as at that time I did the valuation was 200k. Then after two years they say can take back and they appoint a valuer which value my flat as $188k. ( I thought there were report that HDB flat value go up, I might had heard wrongly ). Anyway, I was willing to sacrifice as I am now servicing two loan, very xiong... Then the officer say got to sent valuer to value my five rooms to see if the valuation is higher than the 3 rm. If higher, I got to pay at higher fee. I asked him what have my 5 rm got to do with the 3 rm? He say, this is HDB policy. He also cannot explain... lol ... Now I really don't know what to do ... -
dis place is super boring, everywhere u look its hdb left, hdb rite, hdb everywhere!
any simple small piece of land, its hdb or will b hdb...
my rm window has gt a view of mt faber...soon it'll b blocked by the new hdb blks comin up... -
complain for wat? it's only hear left to hear right...still things never done... either live wif it or migrate....
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Precisely the problem is in the SYSTEM that there are few babies being produced. And our almighty policy makers don't and can't see it!Originally posted by macjoe:Marriage in Singapore is a very bad idea because when it breaks down, the full weight of the system comes crashing down on you.
Everyone and everything is tied down by the fallout LIABILITIES of failed marriage, failed business ventures, and so on so forth.
Why the need for all these entrapments? -
It is actually a 3.5 rm type. Slightly smaller that 4S. Bought in 1997 during the peak ....... I paid hard cash og $50K....Originally posted by dragg:what kind of 3 rm is that? 250k? -
those who bought at the peak really suffers.Originally posted by ORIGAMIST:It is actually a 3.5 rm type. Slightly smaller that 4S. Bought in 1997 during the peak ....... I paid hard cash og $50K.... -
is this the reason why a lot of singaporean migrate????Originally posted by ShutterBug:I think, not only HDB sucks, the rest too; PUB, CPF, etc..
Their Policies are there to protect their Policies. Whether you live or die, they don't care. -
most of the reason lah.. the rest of the reason u can find in the contact listing of www.gov.org.sg lorOriginally posted by changb57:is this the reason why a lot of singaporean migrate???? 
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thanks for sharing. agree, hdb and many gov agencies have create rules to protect their policies.
the levy is stupid. And so does using the type of housing stayed as means testing. 3rm and 4rm very poor than 5 rm? -
This isn't the only reason, there are many more. But basically it's the system that's stiffling to live with. And our government thinks they're the best, and they can't be wrong.Originally posted by changb57:is this the reason why a lot of singaporean migrate???? -
Pay and pay.
Enough said. -
it does not pay to buy bigger flats.
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Hi there....Originally posted by surfer188:Read my case:
Bought 4-room HDB at $255,000 with a $50,000 grant last time. The grant has a 5 years force stay-in period.
Caught wife with boyfirend 3 years into marriage. Wanted to go Divorce.
Luckily I ask HDB about the house & grant issue.
HDB says: "Since you cannot maintenan your family nuclar & you have not satified the 5 years force stay-in period. You only can surrend your flat to HDB."
I ask: "So what is this surrend was."
HDB says: "Surrend is HDB take back your flat at 25% of the evaluation cost. You have to pay the balance in cash."
I ask: "So how much was that?"
HDB says: "if your flat is $250,000 evaluated, HDB only pays you $62500. The other $187500 + Interest you pay in Cash. Also you will be tax 24.5% of the new flat cost upon buying a new flat from HDB because of the grant you have taken. Of course you can choose to buy a re-sale flat which there will not be this tax."
I was SHOCKED
Can you up date the outcome of your case as i'm going for divorce too and i want to know what will the HDB do. I called them they said the buy back thingy will be on case to case basic. -
Any chances of renting out the instead? Or transferring the 3 room flat to be under someone else's name? As a form of 'debt payment'?Originally posted by ORIGAMIST:I lived in a 3 room flat. Two years ago decided to move to five rooms as children grown up and both parents want to live with me. The 3 rooms flat did not have lift at all and no one want to buy. After trying to sell for two years, spoke to HDB who is ok to buy back. They sent valuer to value the flat at $188k. ( I bought at $250 k ). We must pay penalty of 10% which is 18k. BUT HDB also want to value current 5 rooms flat also. IF the value is higher, the penalty will based on 5 rooms. I asked, if my five rooms is worth $300k ( I bought at $320K ) then the penalty will be $30k. HDB will take back my flat at ( $188k - $30K), which will be $158k. I will lose about $92K !!!!!
HDB is blood sucking poor citizen who is in desperation !!!!! Now, I got to servce two loans ... How to tahan????
Anyway, perhaps you should seek legal advice on this one...? -
From the very begining, HDB say cannot rent out. I dare not even let my relative stay in when they needed a temporary place. So damn stupid policy... don't allow you to rent out, then make thing so difficult. I think the officer ( a senior one ) don't know anything when advising me... realised his fault then try to delay the whole process. That's why take two years. I asked him to write to me about this policy as I may need external help so black and white can help solve misunderstanding. He promised to email but till date since no news. Seeking legal help means paying legal fee. Will I be jumping from one hot pot to another ??Originally posted by Devil1976:Any chances of renting out the instead? Or transferring the 3 room flat to be under someone else's name? As a form of 'debt payment'?
Anyway, perhaps you should seek legal advice on this one...?