Help! my unit is not 5 years yet!!

[stress1984]

Hi anyone unit is not 5 years yet and can sell open market? Currently filing for Annulment...
Please help.

 

[starrynite78]

You can try to write in to HDB

 

[flyingstar]

usually is sell back to HDB...they won't let u sell in open market.

 

[sunnyflower8188]

once u annul, the court will tell u to surrender your HDB. This is becos once the family unit is broken, u cannot hold the HDB anymore. Dont think the letter will work cos HDB quite strict. They will ask u to surrender the flat at about 85%(if I remember) of the cost u bought it at. You will lose about 10 to 15%. Then the rest refund back to you n ur partner's CPF.

If I recall correctly, bear in mind that if u sell in open market, if u n ur next partner take up a new flat again, they will charge u a levy cos u sold ur previous flat in the open market. This is not fair to ur future partner. But if u surrender to HDB, ur next direct purchase from HDB will be considered a first timer. Double chk with HDB.

N when u surrender, they will ask u to remove the airon and aircon trunkings. Other cabinet, lightings can remain.

 

[sgbabydoll]

"You will lose about 10 to 15%"

Sunnyflower, does this 10-15% estimated loss include the amount of the grant for first-timers?

 

[sgbabydoll]

"If I recall correctly, bear in mind that if u sell in open market, if u n ur next partner take up a new flat again, they will charge u a levy cos u sold ur previous flat in the open market."

The resale levy will only be charged to the party that has profited from an HDB sales.

 

[sunnyflower8188]

hi doll, when u take up a flat from HDB direct(eg, walk in selection, ballot), the price quoted already includes the grant. HDB will just tell u that the price of a new flat is already subsidzed. So if u bought the flat at say 300k from HDB directly, u will surrender at 85% of 300k. I m not sure how they calculate the interest, etc. The grant is only specified when u bought a resale, I think.

"The resale levy will only be charged to the party that has profited from an HDB sales." ... As for this, say if ur next flat is 300k and HDB charge u for the levy, if u cannot pay the levy urself, then ur next partner will have to bear part of it as well... that is my guess

 

[flyingstar]

well i do have a case where my friend's bf was holding a hdb and sold it off in open market.

when they ballot for new build they are still considered 1st timer. they went through the typical procedures - there was no resale levy.

to be fair i think they base on the party with no previous purchases (ie. my friend).

 

[sunnyflower8188]

hmm... this was not what HDB told me. Or maybe when ur friend and bf applied for the flat, the bf was not specified as the owner but as a tenant, something along that line. This means that in a case where your friend dissolves the marriage, the flat goes to your friend n the bf has nothing

 

[sgbabydoll]

"to be fair i think they base on the party with no previous purchases."

Nothing to do with fairness but HDB's policy. It is based on the party with a previous HDB ownership.

 

[flyingstar]

ok. then i guess HDB is as elusive as ever.

coz my friend's number of chances is the same as 1st-timer stated in their hdb letter when they applied for BTO. and that happened twice.

and they applied together as joint owners (fiance and fiancee scheme).

but only 1 rule...the CPF portion which her bf paid for the previous house has to be returned back to his CPF.

 

[lostsad]

Hi, i am interested in filling for annulment. I have a hdb which is alittle more than 1 year. when the flat is surrendered to hdb at 85%. is this at the current valuation price? or at the valuation price that i bought it at?

also, we took bank loan. so when we return flat to hdb, do we have to pay anything back to the bank?

 

[sgbabydoll]

Your questions are best answered by HDB. It's just a phone call away.

 

[xixi0310]

hi stee
i got fren who got married (customary in 2008)..
then annul marriage in 2009..they also gt a new flat together but my fren willing to gif up the flat, provided the guy have to return my fren all her CPF..case dragged until 2010, then everything settled..both of them under age 35

 

[powder]

it is typically based on how much u bought from HDB... If based on current valuation, then every couple would be balloting for 300k flats and getting 350k payouts from HDB after returning it.

u buy from hdb and the bank pay for the flat for u via u, thru your loan... when u sell the flat, do u think the bank and HDB will settle it between themselves whilst u go Takashimaya to buy a Chanel bag? then u await for them to inform u of the outcome?

how much u hav to pay the bank will depend on how much u OWE the bank if there's any outstanding... if u paid 30% in cash, then quite unlikely... and also if there's any penalty depending on the kind of loan u took.

with no numbers, no duration, no information... nobody can really advise u.

But doll is right, u should ask HDB directly. simple phone call, the right pple... what are u waiting for?

 

[sgbabydoll]

Instead of asking unknown people to share their hearsay or experience which may not be useful to you at all, why not just dial HDB's hotline. Their hotline is very well managed and staff is generally pleasant to talk to.

After this is done, make an appointment with a lawyer to find out all you need about annulment and separation/divorce (no immediate divorce since marriage is under three years), and choose the best option from there.

These steps cannot be skipped, why not do the right things from the beginning instead of going on a detour.