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14-03-2014, 01:20 PM
An honorable member of the Coffee Shop Has Just Posted the Following:
sgtalk.org/mybb/Thread-Sad-discovery-HDB-COV-still-remain-U-all-have-been-fooled-ahhhhhahahahhah
Quote:
http://therealsingapore.com/content/...more-harm-good (http://therealsingapore.com/content/new-hdb-policies-are-doing-more-harm-good)
Quote:
The new HDB policies are not going to help in the present situation. why? simply because it is transferring one problem to another.
What happen is that the valuation for most HDB flats have dropped and the new monthly servicing ratio actually reduce the buyer's loan quantum. As many sellers are caught in the low valuation and will not be able to upgrade their property. The buyer are similarly not being able to offer higher price to the seller due to MSR policy, lower loan quantum.
Now, the new rule require the buyer to do their own valuation, that is the biggest problem. You see, base on transacted price, the seller price his property at for example $300,000, exactly the same as transacted. then a buyer with no extra cash came and purchase the property from the seller at $295,000. The deal was sealed.
Then disaster struck, the buyer valuation came back at $280,000. As buyer only have $7000 spare cash, but he has to fork out $15,000 cash to complete the deal as the different between the selling price and the valuation cannot be borrowed.
$295,000 - $280,000 = $15,000 (pay cash, no CPF)
Buyer only has $7000, not enough to complete the deal, have to forfeit his option to purchase deposit, between $2 - $5000.
Aaron
so if buyer wants to complete the deal, he will have to fork out $15,000 cash to complete the deal.
Value $280,000 + Cash $15,000 = Selling price $295,000
ahhhhahhahahahahhhahah
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?177156-Who-say-HDB-COV-no-more-u-all-ganna-fooled-liao&goto=newpost).
sgtalk.org/mybb/Thread-Sad-discovery-HDB-COV-still-remain-U-all-have-been-fooled-ahhhhhahahahhah
Quote:
http://therealsingapore.com/content/...more-harm-good (http://therealsingapore.com/content/new-hdb-policies-are-doing-more-harm-good)
Quote:
The new HDB policies are not going to help in the present situation. why? simply because it is transferring one problem to another.
What happen is that the valuation for most HDB flats have dropped and the new monthly servicing ratio actually reduce the buyer's loan quantum. As many sellers are caught in the low valuation and will not be able to upgrade their property. The buyer are similarly not being able to offer higher price to the seller due to MSR policy, lower loan quantum.
Now, the new rule require the buyer to do their own valuation, that is the biggest problem. You see, base on transacted price, the seller price his property at for example $300,000, exactly the same as transacted. then a buyer with no extra cash came and purchase the property from the seller at $295,000. The deal was sealed.
Then disaster struck, the buyer valuation came back at $280,000. As buyer only have $7000 spare cash, but he has to fork out $15,000 cash to complete the deal as the different between the selling price and the valuation cannot be borrowed.
$295,000 - $280,000 = $15,000 (pay cash, no CPF)
Buyer only has $7000, not enough to complete the deal, have to forfeit his option to purchase deposit, between $2 - $5000.
Aaron
so if buyer wants to complete the deal, he will have to fork out $15,000 cash to complete the deal.
Value $280,000 + Cash $15,000 = Selling price $295,000
ahhhhahhahahahahhhahah
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?177156-Who-say-HDB-COV-no-more-u-all-ganna-fooled-liao&goto=newpost).