HDB and Condo

[hquek]

LOLMum:

that's why i am asking if it is subject to hdb's approval.

errm, I honestly think that as long as MOP is fulfilled, one will only have to inform HDB once tenancy agreement for the HDB is signed. For peace of mind, call them up.

[dicky]

I think we are missing certain details out…


1st, even if you have set aside half min sum of 61.5K, you still need to set aside 20K in OA before you can use CPF for 2nd pty. From the example: H: 15K OA, 50K SA. H cannot use CPF at all (61.5K half min sum calculated as 50K SA + 11.5K OA, balance 3.5K is excess of half min sum, yet cannot be used, because 15K OA is less than required 20K). For another example, H: 35K OA, 30K OA. Then H can use 2.5K (61.5K half min sum calculated as 30K SA + 31.5K OA, balance 3.5K OA can be used for 2nd pty since OA of 35K is more than required 20K)

2nd, rules applies depending on the date of purchase of HDB unit. The surest and immediate way to find out whether you can rent out HDB at any one time, is to use HDB online services -> Subletting -> Whole Unit Subletting and you will see a page indicating whether you are eligible to rent out your unit.

3rd, as for CPF usage for cdo. It is simple to understand, but too long story to explain here. In short, your lawyer will advise you, and they are tasked to look after your welfare.

Correct me if I am wrong Good Luck!

[30plus]

dicky, for your points:


1. wrong. the 20K limit applies to investment products only. housing is not included. how i know? i am doing that right now.

2.the procedure is correct. you need to apply before you rent out the whole flat. however, the approval comes in about 20 minutes time even in odd hour. i doubt there is human approval. so, i tend to agree with hquek. if you fulfill MOP, the approval is automatic. how i know? i did before.

3. the cpf rules are pretty straightforward. their website has all the info you need. don’t really need to be a lawyer to understand.

[nate mummy]

New EC at Pasir Ris is launching, Belysa…How many of you is interested? any thoughts?

[dicky]

30plus:

dicky, for your points:


1. wrong. the 20K limit applies to investment products only. housing is not included. how i know? i am doing that right now.

2.the procedure is correct. you need to apply before you rent out the whole flat. however, the approval comes in about 20 minutes time even in odd hour. i doubt there is human approval. so, i tend to agree with hquek. if you fulfill MOP, the approval is automatic. how i know? i did before.

3. the cpf rules are pretty straightforward. their website has all the info you need. don't really need to be a lawyer to understand.

Tks 30plus
1. If what you say is true. It is good news. At this point we have yet to use CPF to part pay bank loan instalment. So didnt know 20K doesn't applies to 2nd pty purchases.
2. Am saying that MOP differs depending on when you bought your HDB flat. Before 30 Aug 2010, understand MOP is 3 years if fully paid up. Later MOP changed to 5 years irregardless of whether HDB unit is fully paid up. The fastest way to check if you had reached MOP and eligible to rent out, not many people remember the HDB date of purchase. Not saying the official approval where you submit the tenant details and such.
3. Agreed, the rules are all there. Just spend time search loh... Just saying for questions on procedure like how to apply for usage of CPF and related issues, ask lawyer or banker to cut-short the learning curve lah....
Thks for explaining, will take care not to post if not sure... :oops:

[micollh]

any good conco/EC to recommend near ECP ?

[ohdaddy]

micollh:

any good conco/EC to recommend near ECP ?

Hi micollh. Depends on budget and new or old. Which part of ECP? Tanjong Rhu-Amber, Marine Parade-Siglap, Bedok to Bayshore?

[micollh]

ohdaddy:

micollh:

any good conco/EC to recommend near ECP ?

Hi micollh. Depends on budget and new or old. Which part of ECP? Tanjong Rhu-Amber, Marine Parade-Siglap, Bedok to Bayshore?

tanjong Rhu area has new condo ? last time i used to stayed with my aunt there.. very nice place.. the environment is great !

any that u have to recommend? new better

[ohdaddy]

micollh:

ohdaddy:

[quote=\"micollh\"]any good conco/EC to recommend near ECP ?

Hi micollh. Depends on budget and new or old. Which part of ECP? Tanjong Rhu-Amber, Marine Parade-Siglap, Bedok to Bayshore?

tanjong Rhu area has new condo ? last time i used to stayed with my aunt there.. very nice place.. the environment is great !

any that u have to recommend? new better[/quote]You are right, I don't think Tanjong Rhu has new condo. Amber area very popular esp those next to Parkway Parade like Silver Sea if you want.

You might want to try http://www.iproperty.com.sg or http://www.propertyguru.com.sg

[micollh]

thanks ohdaddy… i want to start to do my "homework"… hee