Selling of HDB flat [Tagged]

[Jonas21]

Hi Bros,

I know this should not be posted here but hoping the bros in here can give some ideas.

I had bought a 5 room flat at Bedok North Ave 3 about 2 yrs ago, having a grant from HDB, I can only sell it off after 5 yrs.

Right now I have some problems and wish to sell off the flat, is there any way to do it? I bought it at 383k and I believe the value had already went up due to the upgrading of every level with lift and the opening of PIE at ave 3.

Will it be possible to sell it to other buyers but sign on contract that only 5 yrs later than can hand over?

Pls advise if there is any loophole to sell the house. Tks.

[Benson Cheng]

Bros,

I am not sure, but the Housing agent or you can go directly to the Toa Payoh Hub, I think you can get a better answer. Sorry I can't help.

[sadesade]

u have kang tao from HDB and now u still want another kang tao?
mean u wish there is a very very stupid buyer pay u cash for the flat but only transfer the title after your agreement with HDB is fullfied?
u think urself possible or not?

[cereal-killer]

Since you Cant sell....... RENT OUT

[mickylwk]

understand that the Authority will tax you for each room you rent out.
when approved not very sure.
please check out properly first or else your whole flat will be confiscated.

[spencerng]

Hi bro,

It may be too personal for you to reveal you problem.

My suggestions:

Take your problem to HDB Toa Payoh Hub and talk to the Officer to resolve it.

If it is confirmed not possible to dispose of it, u can either rent out the whole unit or 2 out of 3 or 3 out of 4 of the bedrooms to collect monthly rent.

FYI, to rent out the whole unit of your 5-room flat, you need to get HDB's prior approval.
This you can also discuss with the Officer the details while you are at HDB Toa Payoh Hub.

In renting out your bedrooms, it is not necessary to get HDB's prior approval.

[LianLover]

Hi Bros,


I had bought a 5 room flat at Bedok North Ave 3 about 2 yrs ago, having a grant from HDB, I can only sell it off after 5 yrs.

Tks.

here are ur options

1) wait for 5 yrs
2) sell it back to hdb

what u cannot do (by right)

1) rent out the house
2) get a buyer to transact and post date the txn

what u cannot do (by right by left by up by down)

1) sell the house in the open market
2) profit from this txn

what this means is....if u sell back to hdb, u WILL NOT get a profit....levy will be charged, no matter how high u sell the house....eg 1m....u WILL NOT get any profit. the clause that hdb will buy back is for "emergency" cases like divorce, owners will never get to profit from this scheme, no loopholes here

next, abt rental...u can rent out the house, but u will not be able to do it officially, i.e. u are doing illegal rental, this is unless u wanna rent out the house for many many yrs, if u intending to just rent for 3 yrs then sell when it hit 5th yr mark....nope, the 3 yrs rental period is not counted in the minimum occupancy period of 5 yrs, meaning u still have to stay another 3 yrs.

getting a buyer to post date txn is not allowed as well, recent times due to divorce being common, lol. many pple try to "eat" 2 -3 mths from hdb, recent regulation from hdb is that u CANNOT even advertise ur house until 5 yrs is up.

lastly, selling your house in the open mkt is possible some pple will tell u, yes it is, but hdb will still be the middle broker, i.e. same as selling to hdb, u get levied and u will never profit from it.

in short, no loophole. check with ur lawyer on selling back to hdb tho since i guess dats ur only option.

[compaq69]

The only party that you can legally sell to is HDB,under the grant clause, you have to stay at the premises 5 yr or above then you are allow to sell in open market. There is no leeway for your case, so i guess if you dont wish to sell back to hdb then the only way is to rent the place out.

[Alan Ong]

Why talk about sell house in sex forum ?

[KINGor75]

appeal lah, i got a fren oso appeal to sell off his 3 yrs old hdb flat and was successful...

[Johnston]

Why talk about sell house in sex forum ?
In Sbf, almost anything and everything can happen.

:D
But seriously TS's energies would be better direct to the Relevant Authority who will like to take the opportunity to remind you of the Proper Procedure.

:D

[nitecrawllerr]

If your unit very high floor, good location eg marine parade, facing the sea and the buyer with solid hard cash. Other than that cant think of any good reasons to take such risky move.

[joker88]

For your info, any contract entered by the seller to sell his flat before the 5 years occupation period required by HDB is NOT recognised by HDB and the singapore courts.

Hence, the buyer has no recourse if you refused to transfer the title to him three years from now
when you complete your 5 years occupation.

As such, no buyer with proper legal advice will enter into such deal with you.

The idea of paying you now and taking possession three years later already sounds very risky liao.

Your status can easily change in three years, eg. bankruptcy, death, debts, etc.
The buyer has no recourse if you are unable or refuse to complete the sale.

The 5 year rule is to prevent buyers from taking the grant and profiting from it.
Without this rule, anybody can just buy a flat minus the grant and then turn around one year
later and tell HDB that he needs money and sell the flat and pockets the grant as profit.

In genuine cases, HDB will buy back from you minus the grant.
So you dun lose you dun gain lor. Just take back your money.

Hope the above helps. I suggest you get proper legal advice before you act.

Just my 2 cents. :)

[taegukgi]

What happens if you buy without grant in the 1st place?

[jefxxl]

have same across cases when seller onli stay for 2 or 3 yrs and nd to sell off due to financial difficulty.and was successfully done.no nd to sell back to hdb.just do open market sale.if u guys wana noe more,can pm ur contact to mi n i tell u more.thanks.

[rohan]

have same across cases when seller onli stay for 2 or 3 yrs and nd to sell off due to financial difficulty.and was successfully done.no nd to sell back to hdb.just do open market sale.if u guys wana noe more,can pm ur contact to mi n i tell u more.thanks.

you agent?

[waiwaiz]

What happens if you buy without grant in the 1st place?

mean u can sell after 2n half year i think........
your status remain as 1st timer.....can apply flat from HDB directly and immediately.

[tomvoyeur]

I believe most bros have explained it all - the best solution is to go to HDB and disclose ur problem. They have a mandate to help u if your circumstances qualify for it.

Lastly, dun expect to make a profit from the sale. Selling your HDB flat is primarily to alleviate your liquidity problem not to make a financial profit. Good luck! :)

[shoutcast]

Can rent out rooms lor , just save one room for yourself , rent out the rest , rent room no need HDB approval , so you got 3 rooms , rent out master and one common room , can get $1K + income per month

[Dayview2004]

Hi Bros,

I know this should not be posted here but hoping the bros in here can give some ideas.

I had bought a 5 room flat at Bedok North Ave 3 about 2 yrs ago, having a grant from HDB, I can only sell it off after 5 yrs.

Right now I have some problems and wish to sell off the flat, is there any way to do it? I bought it at 383k and I believe the value had already went up due to the upgrading of every level with lift and the opening of PIE at ave 3.

Will it be possible to sell it to other buyers but sign on contract that only 5 yrs later than can hand over?

Pls advise if there is any loophole to sell the house. Tks.

bro pm me with your number and i may be able to help you.

[jefxxl]

yes,i'm an agent..have successfully help my frd sold his flat and he make a profit..he onli stay 2 yrs..he went down to HDB to check,was told that he can onli sell after staying for 5yrs(go by the book)..however during a coff session,he mention to mi abt his financial problem(lose in betting),we brain storm and try sum ways..to cut it short,end of the day i managed to help him sell away the flat and make a profit(base on current market value),managed to clear his debt and help him buy a 3rm.

for those who has similiar problem,can pm me.thanks

[asdfwerty]

Bro my agent may be able to help you out. very knowledgeable fella. you interested can pm me.

[cgcgcg]

Simple steps:
(1) call HDB, tell them your problem;
(2) see your MP, tell him your problem;
(3) if HDB permit to let you sell earlier before the 5 yrs periods up, then engage the agent;
(4) every body claim they can do it.. BUT HDB is the only one has the final say.. so do not waste your time, just go direct to the decision maker and get decision from them...
(5) if you engage any agent now, they still have to clear with HDB....
(6) Just go down to HDB hub or call HDB hotline 1800-866-3066 and get information from them,
(7) if you engage agent now, agent still do the same thing ie checking with HDB...
(8) So DIY check 1st hand information 1st...and you can double check with what other agent said....

[ee_jack]

Hi, saw your ads and sorry about your plight. I would like to recommend you my friend and he is an agent. I remembered he helped a couple facing the same problems as you and managed to settle their problems. I saw how efficient he work for that couple, running around to help them. Frankly, I was very amazed by his work attitude that I really have to salute him. Also, he received a testimonial from that couple to his company commenting how good he is. If you are interested to have him to assist you, I strongly recommend this guy to you. I believe he will be able to assist you. Btw, he has a pretty assistant with him....hehehe.....

[xiaogui1502]

hi bro,

Just a fellow bro helping another.

I am an property agent, and coincidentally, I live in Bedok too. Common problems I encountered, financial difficulty, or divorce.

So my advice is, if your problem is any of the two, then second qn is when did you buy your flat? If it is financial problem, and you are past 3 years. What you can do is to write in to HDB to appeal to sell off. A good way to do this is to go to your MP and get a "supporting" letter. What HDB usually do is two things, let you sell, or delay your flat payment for a period, for example 6 mths to 1 year. Of course, your loan will be extended accordingly.

If it is divorce, then tough. There is a chance that HDB might take back the flat at a lower value than market value, as the 5 years is one of their conditions. I myself kena this for my first "marriage".

If you are comfortable, can pm me. Since we are both bros in this forum, I give big discount to you if you need my service. If no service need, I can give u some advices if u need more.

[imagination]

Glad to see so many helpers here.......
but one thing abt singaporean...."Just want to do business only"......

Just go straight to HDB and check it out and everything will be very clear to u.

[old_yet_horny]

Hi Bros,
...

Will it be possible to sell it to other buyers but sign on contract that only 5 yrs later than can hand over?

Pls advise if there is any loophole to sell the house. Tks.

Yes!! Can!!

Try talking to Mah Bow Tan!!

[naturegreen]

For a moment, I thought this is a story about how you bonked your housing agent. :confused:

[imagination]

For a moment, I thought this is a story about how you bonked your housing agent. :confused:

Or thought a story abt bon:pking the HDB officer.......

[SeAHuM]

There was a period when I was scouting around for a flat. Sometimes agent got keys to flats where the owners are not at home. Was excited to see panties around the house, door knob, sofa, on the floor, toilet...

[BoinKING]

I've been summoned~
Which HDB officer is ready to be boinked?! ;)