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]

Originally Posted by Jonas21

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]

Originally Posted by Alan Ong

Why talk about sell house in sex forum ?

In Sbf, almost anything and everything can happen.


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.

[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.