Advise

[Galantspeedz]

the loan will be from HDB, does HDB look into such ?

 

can share some pointer?

 

you mean you thought HDB will loan without looking to see if you can repay the loan?

 

and your best friend think the same?

[Jrage]

you mean you thought HDB will loan without looking to see if you can repay the loan?

 

and your best friend think the same?

 

ha ha ha... i bet he also never consider things like conservary fee , property tax, agent fee and other expenses in his planning..

[Galantspeedz]

ha ha ha... i bet he also never consider things like conservary fee , property tax, agent fee and other expenses in his planning..

 

i guess agent fee form the bulk... but since BTO i guess no agent fee... not sure about stamp duty though

 

the rest is small amount ...

[Jrage]

i guess agent fee form the bulk... but since BTO i guess no agent fee... not sure about stamp duty though

 

the rest is small amount ...

He is renting out leh. There is agent fee payable for that. Also if not own stay , property tax also a neat sum.

 

[Xanavi]

Agent fee not neccesary if find tenants yourself.

Property tax 100 plus a year.

Stamp fee deductible from CPf.

 

[Galantspeedz]

He is renting out leh. There is agent fee payable for that. Also if not own stay , property tax also a neat sum.

 

property tax is 10% for rental and 4% for own stay.. so maybe 1-2k?

 

renting not necessary go through agent... depends on oneself... so far we never use agent... either do we sign any contract with the tenants.. on is on trust basis

[Jrage]

property tax is 10% for rental and 4% for own stay.. so maybe 1-2k?

 

renting not necessary go through agent... depends on oneself... so far we never use agent... either do we sign any contract with the tenants.. on is on trust basis

True .... But assuming friend will spend most of the time oversea. He may need an agent to let our the unit.

[Galantspeedz]

True .... But assuming friend will spend most of the time oversea. He may need an agent to let our the unit.

 

see his friend learn finish cooking dessert first or bto ready first... lol...

[Soya]

... so far we never use agent... either do we sign any contract with the tenants.. on is on trust basis

 

 

brave man....

 

liddat better make sure ur tenant dun stay more than 12 years hor. they can claim squatter rights and u hv to surrender the property to them.

[Kurty]

pls apply for a HLE

 

what is HLE??

 

you mean you thought HDB will loan without looking to see if you can repay the loan?

 

and your best friend think the same?

 

yes.. this is something we don't know..

[Kurty]

HDB will only loan to you if your income is able to service the loan. So you need to be show your mthly income (either thru salary or income from business) before they will grant you loan. U can check how much hdb is willing to grant you from this website.

https://services2.hdb.gov.sg/webapp/BP27LEA...in/BP27PApp.jsp

 

Note : that they dun consider income for your "future" business.

 

Dun think he has already gotten a loan cos' how can the repayment be in the range of a couple of hundred.. even at the lowest interest rate in town , we are talking abt >$500 a mth.

If i am not wrong, loan is only granted nearer to the completion of the bto. So i suspect they have gotten a loan yet.

 

yeah, no news on loan yet..

 

this is scary part..

[Throttle2]

Hi,

 

Sharing a story from my close friend, really wish to help but got no idea to it.

 

Story goes:

 

Friend