HDB valuation top up bs.

[Sayn]

Well, once again the hand of our gov is visible.

I was struck by the news report in the ST today with regards to selling HDB flats purchased with CPF funds beneath valuation.

If a hdb flat is resold beneath its valuation, the owner would have to top up the difference by paying into the CPF again.

Rationale, to deter cash back schemes, which sounds superbly delusional in my humble opinion.

It is just an attempt to prop up the artifically inflated, prices of the HDB flats, would be the logical conclusion of anyone who gives it any thought.

Enforcement of a "loosely enforced rule in the boom heydays".

Sometimes i wonder if we are living in a computer simulation, which tries to determine how much bull shit, ordinary humans can take...

sayn

 

[cass888]

You obviously do not know what the industry is doing. HDB should have plugged this hole a long time ago. Two tricks:

1. The buyer and seller first agree on a price which in these days will be significantly below valuation. But they declare the price at valuation or slightly below, with th seller giving the money back to the buyer.

2. The buyer and seller first agree on a price which in these days will be significantly below valuation. The price is also lowr than what the seller has to repay to his CPF. The buyer intends to pay part of it in cash de to unavailability of loans (banks will not lend to same level as HDB). But the seller asks for a lower price to be declared, with the balance not declared.

Not uncommon at all.

Well, once again the hand of our gov is visible.

I was struck by the news report in the ST today with regards to selling HDB flats purchased with CPF funds beneath valuation.

If a hdb flat is resold beneath its valuation, the owner would have to top up the difference by paying into the CPF again.

Rationale, to deter cash back schemes, which sounds superbly delusional in my humble opinion.

It is just an attempt to prop up the artifically inflated, prices of the HDB flats, would be the logical conclusion of anyone who gives it any thought.

Enforcement of a "loosely enforced rule in the boom heydays".

Sometimes i wonder if we are living in a computer simulation, which tries to determine how much bull shit, ordinary humans can take...

sayn