HDB suck all times .....
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i am not surprised if the officers there are confused.
do you know how often they change the rules? -
why divorce? how come all my friends divorce?Originally posted by tequila:Hi there....
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. -
a lot of your friends divorced?Originally posted by Glen999:why divorce? how come all my friends divorce?
none of my friends did. -
Where is the area? how come cannot sell?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???? -
HDB flat can rent out only if it meets some criteria. 2 of the more common ones are:Originally posted by ORIGAMIST: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 ??
1) You have stayed in your 3 rm flat for more than 10 yrs (regardless if you have paid up your HDB loan)
2) You have stayed in your 3 rm flat for more than 5 yrs but have paid up your HDB loan
There's another way to get around the problem if you have not met any of the above criteria.
For example you have stayed <10 yrs and you still have outstanding HDB loan for the flat.
Solution: Take a bank loan to pay off the HDB loan and you are legit to rent out your 3 room. Use the rent to pay bank loan and you won't have to shoulder 2 loans.
I'm just curious why 3-room flat cannot sell?? In this market small flat should go.
Everything boils down to price. Lower your expectation and your 3-rm can sell. Have you tried selling at around HDB buy-back price in the market? Since you consider having HDB buy back, why not try the same price (or a bit more) that HDB offers and get your unit off in the market.
I'm having a 3-room flat on hand that's diff to sell. Location not good at all though and very few buyers but I managed to get an offer for my seller at valuation. However, seller has high expectation, so the unit is still stuck!
I've learnt something about asking HDB for info. I never settle for just one officer's reply. When you have queries, remember to ask at least 2 officers and get their names and date of reply. Unless it's someone who's higher in protocol that replies you, otherwise it's better to double check that you get the right interpretation of the regulations.
Seriously, waiting 2 years to resolve an issue is really too much. HDB officer does not lose anything but you are losing money as the day goes. Time to take some action! -
I am currently servicing the new flat with private bank. I doubt I can get another loan for this. The officer told me the valuation for my flat is $188k. But a check with HDB website, it showed similar flat at the area is about $200k.... I wonder why the great disparity ???Originally posted by Homebody:HDB flat can rent out only if it meets some criteria. 2 of the more common ones are:
1) You have stayed in your 3 rm flat for more than 10 yrs (regardless if you have paid up your HDB loan)
2) You have stayed in your 3 rm flat for more than 5 yrs but have paid up your HDB loan
There's another way to get around the problem if you have not met any of the above criteria.
For example you have stayed <10 yrs and you still have outstanding HDB loan for the flat.
Solution: Take a bank loan to pay off the HDB loan and you are legit to rent out your 3 room. Use the rent to pay bank loan and you won't have to shoulder 2 loans.
I'm just curious why 3-room flat cannot sell?? In this market small flat should go.
Everything boils down to price. Lower your expectation and your 3-rm can sell. Have you tried selling at around HDB buy-back price in the market? Since you consider having HDB buy back, why not try the same price (or a bit more) that HDB offers and get your unit off in the market.
I'm having a 3-room flat on hand that's diff to sell. Location not good at all though and very few buyers but I managed to get an offer for my seller at valuation. However, seller has high expectation, so the unit is still stuck!
I've learnt something about asking HDB for info. I never settle for just one officer's reply. When you have queries, remember to ask at least 2 officers and get their names and date of reply. Unless it's someone who's higher in protocol that replies you, otherwise it's better to double check that you get the right interpretation of the regulations.
Seriously, waiting 2 years to resolve an issue is really too much. HDB officer does not lose anything but you are losing money as the day goes. Time to take some action!
If you are an agent, perhaps you want to help me to get rid of my flat. Pm me your hp and your charges, I will get in touch with you....