HDB and Condo

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Re: HDB and Condo

Postby starlight1968sg » Fri May 19, 2017 10:16 pm

Janet
The location is very impt. Being near to mrt is essential because we need to take public transport to get around.
I guess no harm trying as the fee is just $10
I think it may be better to engage an agent to do the selling. I am one who hates to study the rules and regulations etc

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Re: HDB and Condo

Postby sleepy » Fri May 19, 2017 10:32 pm

We sold our own flat > 10 years ago without engaging agent. Can't really recall what hdb rules are there. You should be able to read up the updated version online.

For parents in law flat, we engaged agent because quite a distance so too much of a hassle to travel there to open door every time there's a viewing. We gave agent the keys since flat was already vacant at that time. Commission negotiable. We paid 1.2% + gst

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Re: HDB and Condo

Postby janet88 » Sat May 20, 2017 3:17 am

starlight1968sg wrote:Janet
The location is very impt. Being near to mrt is essential because we need to take public transport to get around.
I guess no harm trying as the fee is just $10
I think it may be better to engage an agent to do the selling. I am one who hates to study the rules and regulations etc

New flat doesn't have MRT. Only good thing is it's brand new as my flat is really old...need to do major repairs like changing air con units, renovating master bedroom toilet and cupboards are old. I have mixed feelings too...after staying here for 18 years, it's hard to uproot. I will miss the convenience of amenities. IF we are lucky to get the flat, I thought of saving money by handling own transactions so that commission can be used to help pay for simple renovation. I hate to read those rules and regulations too. Wait till August to know result.

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Re: HDB and Condo

Postby janet88 » Sat May 20, 2017 3:19 am

sleepy wrote:We sold our own flat > 10 years ago without engaging agent. Can't really recall what hdb rules are there. You should be able to read up the updated version online.

For parents in law flat, we engaged agent because quite a distance so too much of a hassle to travel there to open door every time there's a viewing. We gave agent the keys since flat was already vacant at that time. Commission negotiable. We paid 1.2% + gst

Just curious, who pays more commission? Buyer or seller?

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Re: HDB and Condo

Postby starlight1968sg » Sat May 20, 2017 7:27 am

Janet
Your present flat which is such close to mrt will be able to fetch a good price
Do you have to pay a levy when you sell your flat?

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Re: HDB and Condo

Postby sleepy » Sat May 20, 2017 7:45 am

janet88 wrote:Just curious, who pays more commission? Buyer or seller?


Supposedly sellers 2% buyers 1%. That was during my era but I'm guessing still the same % lah.
Anyway it is negotiable. The buyer for my flat paid his agent a flat fee $1k. They seated on my sofa discussing buyer's commission so I overhead their entire conversation :lol:

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Re: HDB and Condo

Postby sleepy » Sat May 20, 2017 7:52 am

janet88 wrote:New flat doesn't have MRT. Only good thing is it's brand new as my flat is really old...need to do major repairs like changing air con units, renovating master bedroom toilet and cupboards are old. I have mixed feelings too...after staying here for 18 years, it's hard to uproot. I will miss the convenience of amenities. IF we are lucky to get the flat, I thought of saving money by handling own transactions so that commission can be used to help pay for simple renovation. I hate to read those rules and regulations too. Wait till August to know result.


New flats need to do reno too right? Any wet work required for new hdb?
I think some carpentry is unavoidable, kitchen confirm need to MTM.

Your current flat fully paid up? Do your cost benefit analysis.
If sell current place can fully paid up for new flat (debt free) + renovation/set up new hdb + balance cash due to capital gain, then it might be worth some consideration. But it also means you have to give up the convenience of your current place

The convenience yield for your current flat is high. Near school, food center/market and mrt I think many people would like.

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Re: HDB and Condo

Postby janet88 » Sat May 20, 2017 9:16 am

starlight1968sg wrote:Janet
Your present flat which is such close to mrt will be able to fetch a good price
Do you have to pay a levy when you sell your flat?

yes...i would have to pay resale levy.
the reasons why i am letting go is because the flat is old and hubby still has to pay monthly mortgage...if i don't get the SBF flat, i am ok too because i have MRT 200m away. i can afford to be choosy when it comes to getting another flat. with Pei Hwa within 1km and DTL, i believe my flat can fetch.

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Re: HDB and Condo

Postby janet88 » Sat May 20, 2017 9:45 am

sleepy wrote:New flats need to do reno too right? Any wet work required for new hdb?
I think some carpentry is unavoidable, kitchen confirm need to MTM.

Your current flat fully paid up? Do your cost benefit analysis.
If sell current place can fully paid up for new flat (debt free) + renovation/set up new hdb + balance cash due to capital gain, then it might be worth some consideration. But it also means you have to give up the convenience of your current place

The convenience yield for your current flat is high. Near school, food center/market and mrt I think many people would like.

my current flat is not fully paid up...which is why i am getting a new one in a non mature estate and hope to capitalize on my existing flat...so that hubby doesn't need to pay for anymore mortgage. does it make any sense?
the convenience of amenities, market/hawker centre, school and MRT are selling points of existing place...if i am not successful in SBF ballot, at most i am heartache over losing $10.

for the new flat, i will go for simple renovation...no need interior designer. when i renovated my kitchen close to 10 years ago, this guy's workers who did kitchen cabinets and daughter's cupboard have good workmanship but tend to be ex. i don't plan to install air con in the hall. 现在八字都没一横. if i get it, i still have to see if the unit i like is available.

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Re: HDB and Condo

Postby starlight1968sg » Sat May 20, 2017 9:51 am

Janet
yes, go try afterall it is just $10 application fee

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