Advice needed on HDB issues

[makapaaa]

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Coffeeshop Chit Chat - Advice needed on HDB issues[/TD]
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[TD="class: msgFname, width: 68%"] kojakbt_89_ <NOBR></NOBR>[/TD]
[TD="class: msgDate, width: 30%, align: right"]Aug-4 8:21 pm [/TD]

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[TD="class: msgtxt"][h=2]Advice needed on HDB issues[/h]August 5th, 2011 |

Author: Contributions | Edit

Hi,
I am facing this problem, my wife’s uncle wanted to sell his hdb to us very cheap, likely 40-50% lesser than the valuation price. He wanted to let us benefit from his house and he can stay with my wife’s father, which is his elder brother. Some info on his background, he is a very devoted christian, not working, everyday volunteering
himself with his church, no child and divorced after his wife cheated all his money and ran to malaysia to live with another guy many years back.
I wanted to help him so i planned to buy his house, but he wanted me and my wife to buy it at alot cheaper as he doesnt want to earn so much.
I followed my friend’s advice in asking my wife’s uncle to write in to HDB to inform them of his dicision in selling cheaper to us, and the reason behind it.
Unfortunately, we received a letter from HDB rejected his decision, saying that by doing so will spoil the market. My wife’s uncle was suprised to see that he cant sell his house cheaper to us and was furious. He paid finish all his loan of his HDB and has no longer owe anythng to the government.
Its his property but he cant sell it to us, and he is being controlled by government. Singaporean can only sell their house at a higher $$ and not lower, the government is controlling it like its theirs. My other friend commented thats the reason why the HDB price keeps going up and never coming down.
May i ask if any of you can help me and advice me how can we successfully get this transaction done?
Thanks alot
.
Dan Loh

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[peterlth]

So simple ... ask your wife's uncle to sell you at market price ... then he give you back the difference in cash lor ....

 

[groober2011]

no brainer, either that or sell in open market and give the percentage of proceeds for nephew to buy another similar flat.

 

[Glaringly]

I find it strange that HDB disallow the sale to go through as it will affects the prevailing market rate, because it is cheaper?

What about those that sells at very high price? There are couple of cases that are extraordinary high and the sale has gone through. Why the double standard? Isn't it a kind of price fixing by HDB?

 

[greedy and cunning]

So simple ... ask your wife's uncle to sell you at market price ... then he give you back the difference in cash lor ....

you sure or not ? how to give back when all the money go to cpf ?

 

[chongyk7]

Hi

Why don't you just him to transfer to you and your wife as he is related to your wife. Being no children , he has the right to tranfer it to their relative (I tink so). Then settle the rest amony yourself.

Why go all the trouble of asking HDB, the book rules is the book rules.

 

[Agoraphobic]

This sounds ridiculous.

Selling price is set and agreed between buyer and seller. If big brother is in the way, just transfer the ownership of the property, and then settle quietly between the two parties.

Cheers!

 

[Windsor]

you sure or not ? how to give back when all the money go to cpf ?

Now why would anyone sell his hdb flat for example, S$1 to his nephew and depleting his savings in CPF to nothing? We do not have the full facts to judge but anyone above 62 years (I think) can withdraw full amount leaving the minimum sum behind in CPF. The question asked maybe one that is not from a real situation but an idle question from a forumer. If he is serious, then he is an idiot as far as I can tell as his question is lacking info and he did not indicate he did some checks.

HDB is a leased housing owned by HDB and not a private house. If it is the uncle can sell his private house for S$1.00. As it is a leased property HDB controls the selling and buying mechanism such as telling owners they have to sell at prevailing market rates.

 

[depeche]

Always remember that HDB is a leased housing owned by the Big Brother.

 

[mako65]

Just inform the uncle to write a will n make u as the main beneficiary...meantime, stay together n u can practise filial piety too!