If 2nd timer but not taking hdb loan,need 2 pay resale levy?

[Ronleech]

Wah..I blur liao....Now on this scenario.....I sold my 4 rm flat ( no subsidy hor ) long time ago

and also I did not pay any levy. Went to pte. and now I want to buy 3 rm flat ( from open market )

So in this scenario of downgrading, do I have to pay any levy ? How do I know the 3 rm flat is

subsidized or not.

 

Dun have to pay levy so long you buy from open market.

[Luckcent]

your 4 room is from HDB or from open market??

 

if from HDB then its still consider subsidy flat.

 

as for 3 Room. open market not subsidized, but question is, are you allow to buy so fast?? cannot remember clearly, but remember there is a 6 month rule on pte convert to HDB.

4 rm from HDB. Heard can buy from open market immediately but must rid of pte property within 6 mths.

[Luckcent]

Dun have to pay levy so long you buy from open market.

That's a relief !

[Joseph22]

Open Market -> No Waiting Time

Direct HDB -> Need to wait 30 months

 

Resale or New -> As long buy HDB, within 6 months upon completion of HDB purchase, have to sell private RESIDENTIAL properties, hope this clarifies

thanks.

 

btw new one mean direct from HDB right??

[Joseph22]

4 rm from HDB. Heard can buy from open market immediately but must rid of pte property within 6 mths.

from hdb mean subsidise liao.

 

but no worry, like one bro say, from open market, as long as dont take HDB loan you should be safe.

[Sorrow]

4 rm from HDB. Heard can buy from open market immediately but must rid of pte property within 6 mths.

 

Yup Must get rid within 6 months of completing sale （i.e. Completion Date-> Get Keys)

[Sorrow]

thanks.

 

btw new one mean direct from HDB right??

 

Joseph, paisei, this would be better explanation, i think my explanation for the NEW Flat (I.e. Direct From HDB) is incorrect. Meaning want to get NEW Flats, cannot have Private in first place. Sincere apologies.

 

 

(Source: HDB Web Page)

You, your spouse, any occupiers listed in the Application Form or their spouses must not own or dispose or have an estate or interest in any other flat, house, building or land*

 

Within 30 months before the date of application, and

Between the application date and the date of taking possession of the flat

 

 

* includes but not limited to:

 

HUDC flats (Privatised and Non-Privatised)

Properties acquired by gift

Properties inherited as beneficiaries under a will or as a result of the Intestate Succession Act

Private properties

Properties owned/acquired/disposed through nominees regardless of properties location

Edited September 24, 2012 by Sorrow

[Joseph22]

No issue bro.

The problem was with the website itself. too confusing liao. and one rule dont explan the otherl.

 

and the other rule?? hidden somewhere else.

 

 

Joseph, paisei, this would be better explanation, i think my explanation for the NEW Flat (I.e. Direct From HDB) is incorrect. Meaning want to get NEW Flats, cannot have Private RESI in first place. Sincere apologies.

 

 

(Source: HDB Web Page)

You, your spouse, any occupiers listed in the Application Form or their spouses must not own or dispose or have an estate or interest in any other flat, house, building or land*

 

Within 30 months before the date of application, and

Between the application date and the date of taking possession of the flat

 

 

* includes but not limited to:

 

HUDC flats (Privatised and Non-Privatised)

Properties acquired by gift

Properties inherited as beneficiaries under a will or as a result of the Intestate Succession Act

Private properties

Properties owned/acquired/disposed through nominees regardless of properties location

 

[Sorrow]

No issue bro.

The problem was with the website itself. too confusing liao. and one rule dont explan the otherl.

 

and the other rule?? hidden somewhere else.

 

Lol....no worries, any queries just PM me.

[Ronleech]

Make thing simple :-

 

Buy from open market without any grant - No levy

If got private property - have to sell within 6 month after taking possession of the flat

You wont be know as a 2nd timer if you buy from open market, but will not get your HDB Loan if you take loan from HDB more then twice

 

Buy from HDB direct (not necessary NEW), the word is "direct" -

Sold off private property at least 30 months,

As a 2nd timer - levy is applicable, unless DBSS or EC whereby levy is not applicable for 2nd time buyer as those are premium unit

[JimmyMcG1978]

Can we include the levy amount together with the main loan sum? Say if applying for $450k loan and the levy is $35k, can I apply for a $485k loan from the bank? I went to posb home loan page, but doesn't say anything about this..any thoughts on this?

[Alpha78]

Can we include the levy amount together with the main loan sum? Say if applying for $450k loan and the levy is $35k, can I apply for a $485k loan from the bank? I went to posb home loan page, but doesn't say anything about this..any thoughts on this?

 

For HDB flat loan, it's not up to you to decide how much you want to loan (up to 80% max). They will suck up all your CPF OA for downpayment and repayment, then balance you loan from HDB or bank.

[Mahjong74]

Can we include the levy amount together with the main loan sum? Say if applying for $450k loan and the levy is $35k, can I apply for a $485k loan from the bank? I went to posb home loan page, but doesn't say anything about this..any thoughts on this?

 

Levy must pay in cash hor. This is what I was told 2 days ago

 

when I went to HDB office.

[Shull]

Since we're on this topic of properties, I understand that within the MOP of buying a subsidised flat, I cannot buy a residential property. Does this rule applies to commercial or industrial properties too?

[Windwaver]

pls advise.

 

or regardless as long buying smaller flat or equivalent of what i bot 1st time, u need to pay resale levey?

 

Unless EC, if not all flat types need to pay resale levy.

[Sorrow]

Since we're on this topic of properties, I understand that within the MOP of buying a subsidised flat, I cannot buy a residential property. Does this rule applies to commercial or industrial properties too?

 

can buy commercial/industrial property provided no residential element. e.g. Shophouses that may double as residential on upper floors.

[Kopites]

Someone do advise. Thanks.

 

A couple (both 1st timer) plan to buy a SOB/BTO flat directly from HDB but they do not qualify for any CPF/housing grants so the unit conside "subsided" or "non subsidied"?

[Dafansu]

Someone do advise. Thanks.

 

A couple (both 1st timer) plan to buy a SOB/BTO flat directly from HDB but they do not qualify for any CPF/housing grants so the unit conside "subsided" or "non subsidied"?

 

as long direct from HDB it's subsidies flat no matter you qualify for grants or not