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RES Course Day 7

Course notes for property agent wannabe

HDB

  • Selective Enbloc Redevelopment Scheme (SERS)
  • Voluntary Early Redevelopment Scheme (VERS)
  • Housing Urban Development Corporation (HUDC)
  • HDB loan is NOT subsidised housing
    • It is an entitlement
  • Grant, BTO/DBSS/EC = subsidised housing

GREATER $25K POLICY for 2nd HDB loan:

the amount will be reduced by the CPF balance/refund and up to half of the cash proceeds from the sale of a current or an immediate past flat. Flat buyers can keep the greater of $25,000 or half of the cash proceeds (including the cash deposit received).

  • Sale CASH proceeds can only keep max($25k, 50%)
  • If want keep all, don’t take HDB loan
  • Intent To Sell
    • 7 days COOLING-OFF period
    • Don’t blame the agent..
      • Many cases buyer/seller blame agent
  • Deposit max $5k, the norm:
    • Option Fee $1k
    • Option Exercise Fee $4k
  • Option expire 3 weeks, 4pm
  • HLE -> HFE
    • Use HDB portal
    • Consider 12m income, ending 2m ago
    • Must be working
  • 1 portal for BTO & resale
    • Can DIY, guided step-by-step
  • The portals
    • https://services2.hdb.gov.sg/web/fi10/emap.html
    • https://services2.hdb.gov.sg/webapp/BB31AWEstateAgent/BB31SMain
    • https://services2.hdb.gov.sg/webapp/BB31ERESALE3/BB31SMain
    • https://services2.hdb.gov.sg/webapp/BB31AWDashboardWeb/BB31PLogin.jsp
    • https://homes.hdb.gov.sg/home/landing
    • https://iam.hdb.gov.sg/common/login?spcptracking=1677367869249__99cc_adb7159a6645
  • Shophouse = commercial AND residential
    • Loophole: foreigner can buy, but pay ABSD for residential portion

Plus Flat

  • Only Singaporeans
  • 30m wait-out for private owners
  • Resale buyer income ceiling $14k
  • MOP 10y

2-rm Flexi

Short term lease:

  • More than 55yo
  • Age + lease = at least 95

99-lease:

  • Singles, more than 35yo
  • Normal BTO policies

Decoupling

Restrictions Against Hdb Decoupling From 2016, MMDDFL:

  1. Marriage
  2. Medical Grounds
  3. Death Of An Owner
  4. Divorce
  5. Financial Hardship
  6. Loss Of Citizenship

ABSD

  • Remission conditions:
    • For 2nd purchase (not 3rd)
    • Joint Purchase with 1 SC
  • IRAS table
    • SC + PR/FR buying 1 property can refund the 5%/60%, as the “legal representative” is the SC (0%)
  • BSD/ABSD can use CPF – because got collateral
    • SSD cannot use CPF – because cashing out already