The Minton (D19, 99 years leasehold, Kheng Leong)

[teddybear]

I think their "Central" includes both CCR & RCR. RCR includes many many more properties (and include only resale prices and not new launch prices) and hence average $PSF is much lower mah.

hey, can some1 enlighten me why the NUS PPI chart showing around 10% gap between CCR and OCR!!!

but mass market 1kpsf at most and CCR at least 2kpsf on average? how can 10% diff? Cork chart!

http://www.ires.nus.edu.sg/srpi/srpi_main.aspx

[proud owner]

is it a must for the couple to each have min 60k even if one of them is entrepreneur, not contributing CPF regularyly?

if you have 1 prop ..using cpf to service loan ...

AND if u want to buy a second prop .. and NOT using cpf to service 2nd prop ..then its ok ..

but if u want to also use cpf to service the second loan ..then u need to maintain 60k in EACH cpf acc

[devilplate]

let say each couple got more den enuff sum in cpf..let say 200k each and they oredi using cpf to pay mthly installment for existing flat...can they still use cpf to pay mthly installment again for 2nd ppty?

[devilplate]

I think their "Central" includes both CCR & RCR. RCR includes many many more properties (and include only resale prices and not new launch prices) and hence average $PSF is much lower mah.

in any case, very very misleading chart and shd be ignored completely...only make some ppl dream...

[novel]

if you have 1 prop ..using cpf to service loan ...

AND if u want to buy a second prop .. and NOT using cpf to service 2nd prop ..then its ok ..

but if u want to also use cpf to service the second loan ..then u need to maintain 60k in EACH cpf acc

selling the hdb (stay more than 5 years) and buying the private prop intend to use the cpf to pay partial loan and monthly installment.

worried my fren followed new2mondrian's fren footstep... and think their case doesn't seems good as they still owe HDB 100K even thou the hdb might be able to sell ard $450K and he is not contributing cpf monthly so how to reach the 60K min. sum?!

[devilplate]

if you have 1 prop ..using cpf to service loan ...

AND if u want to buy a second prop .. and NOT using cpf to service 2nd prop ..then its ok ..

but if u want to also use cpf to service the second loan ..then u need to maintain 60k in EACH cpf acc

i was told cpf can only use to service one ppty at any one time wor

although i nvr use CPF as it is quite empty...haha

hmm, nid to find back tat banker!

[novel]

let say each couple got more den enuff sum in cpf..let say 200k each and they oredi using cpf to pay mthly installment for existing flat...can they still use cpf to pay mthly installment again for 2nd ppty?

i think can because if you go into your personalized cpf website, they will ask you pay the loan to which property.

[devilplate]

if you have 1 prop ..using cpf to service loan ...

AND if u want to buy a second prop .. and NOT using cpf to service 2nd prop ..then its ok ..

but if u want to also use cpf to service the second loan ..then u need to maintain 60k in EACH cpf acc

by the way, ur statement not entirely true

if u nid to use cpf for partial downpayment of 2nd ppty, each couple still nid to set 58500 each in their OA regardless whether they nid to use CPF to service 2nd ppty anot...this one i very sure

gona increase to 61k soon...so hurry up..whack!

[bargain hunter]

the 10% gap is only relative outperformance of CCR, not absolute $ psf difference.

i try to read and dun understand..10% gap too ridiculous ...meaning to say their methodology failed!

or mabe stalingrad saw this chart and dream about the parity story

by looking at the chart, parity is on the making wor....10% gap only! or rather his theory had actually come true oredi!

[amk]

let say each couple got more den enuff sum in cpf..let say 200k each and they oredi using cpf to pay mthly installment for existing flat...can they still use cpf to pay mthly installment again for 2nd ppty?

of course they can.

... still nid to set 58500 each in their OA

no need OA lah, SA also can.

to top it off, if u dun have the minimum sum, u can play cheat and tell CPF "you intend to sell the current one when the new one is TOP'ed", then CPF *may* allow you to use CPF to pay for the 2nd pty, *on a case by case basis*

(dun say I say one ok ....)

[devilplate]

of course they can.



no need OA lah, SA also can.

SA+OA add up forming 58500?

i was told only OA wor! gosh...

luckily i dun hf to use CPF

[teddybear]

It's good to dream. I like to dream too! But I always remind myself to differentiate between dream and reality.

in any case, very very misleading chart and shd be ignored completely...only make some ppl dream...

[devilplate]

to top it off, if u dun have the minimum sum, u can play cheat and tell CPF "you intend to sell the current one when the new one is TOP'ed", then CPF *may* allow you to use CPF to pay for the 2nd pty, *on a case by case basis*

(dun say I say one ok ....)

IDEA!!!!!!!

[teddybear]

Wah you so clever.

For others info:
Min sum is actually = $58,500 x 2 hor.
If you want to use CPF to pay instalment for 2nd property, then you just need to have at least (0.5 x min sum) in your CPF OA+SA account (but exclude Medisave account). Please check with CPF when in doubt and don't listen to hearsay like cannot include SA etc hor.
If you don't have the amt = (0.5 x min sum), you can also buy private property (even if you holding HDB flat with MOP of 5 years) but just use CASH to pay instalment lor.

of course they can.


no need OA lah, SA also can.

to top it off, if u dun have the minimum sum, u can play cheat and tell CPF "you intend to sell the current one when the new one is TOP'ed", then CPF *may* allow you to use CPF to pay for the 2nd pty, *on a case by case basis*

(dun say I say one ok ....)

[proud owner]

SA+OA add up forming 58500?

i was told only OA wor! gosh...

luckily i dun hf to use CPF

i heard of this regulation in early 06 .. thats why i whacked 3 properties within 3mths even though i only use CPF to service loan for 1 of the props ..

my understanding at that time ..

u can use your OA to make initial payments .. BUT if u need also to service loan using CPF for the second prop ..then both need to have 60k in OA acc ...

i dont think can combine with SA etc ..

[teddybear]

No, your information is not correct. The $58.5k can include SA amount. However, if both spouses paying instalments, each will need to set aside $58.5k in their own CPF SA+OA. Also, $58.5k must be set aside first before you can use any remaining amount for downpayment & instalment.

i heard of this regulation in early 06 .. thats why i whacked 3 properties within 3mths even though i only use CPF to service loan for 1 of the props ..

my understanding at that time ..

u can use your OA to make initial payments .. BUT if u need also to service loan using CPF for the second prop ..then both need to have 60k in OA acc ...

i dont think can combine with SA etc ..

[new2mondrian]

My apologies.... But I really got quite confused reading this forum. Any answers to the following questions?

1) If couple received concessionary HDB loan (and have no means to repay HDB in the immediate future), can couple purchase a 2nd property within the MOP?

- If the answer to (1) is no, is it then possible to appeal to HDB that the 2nd property is under construction, and by time it reaches TOP, the HDB property would have fulfilled the MOP?

2) What constitutes the minimum sum of $58,500 (or $61,000 wef 1 July 2010) per pax? Is it the OA only, or is it the OA+SA? And if someone buys a property today, but exercises the option on or after 1 July 2010, should the minimum sum be $58,500 or $61,000?

After my friend's case, I think it is also good for the real estate agent's industry to establish a common checklist to go through with the prospective buyer before purchase of any property, and the checklist can possibly include a series of questions to determine if that buyer(s) is eligible to purchase a 1st/2nd (or subsequent) property. The prospective buyer has to sign off that checklist before option monies/OTP can be finalised. That will save some poor souls their hard-earned money. Also protects the agent(s) from any potential disputes later down the line.

[scsc]

My apologies.... But I really got quite confused reading this forum. Any answers to the following questions?

1) If couple received concessionary HDB loan (and have no means to repay HDB in the immediate future), can couple purchase a 2nd property within the MOP?

- If the answer to (1) is no, is it then possible to appeal to HDB that the 2nd property is under construction, and by time it reaches TOP, the HDB property would have fulfilled the MOP?

2) What constitutes the minimum sum of $58,500 (or $61,000 wef 1 July 2010) per pax? Is it the OA only, or is it the OA+SA? And if someone buys a property today, but exercises the option on or after 1 July 2010, should the minimum sum be $58,500 or $61,000?

After my friend's case, I think it is also good for the real estate agent's industry to establish a common checklist to go through with the prospective buyer before purchase of any property, and the checklist can possibly include a series of questions to determine if that buyer(s) is eligible to purchase a 1st/2nd (or subsequent) property. The prospective buyer has to sign off that checklist before option monies/OTP can be finalised. That will save some poor souls their hard-earned money. Also protects the agent(s) from any potential disputes later down the line.

Can't answer the 1st qns but can hit the 2nd qns.

The MS constitutes all of OA+SA outstanding inclusive of those use to purchase SA investment linked products. (Unknown is the portion of if "property pledged in lieu of part of your Minimum Sum" can be used to make-up the pie)

Yr suggestions are indeed good... I was thinking that both the potential buyer & their agent should sign an agreement on the checklist. Whether the authority allows the agent to bear part of the penalized sum on the purchase withdrawal is another issue because there's pros & cons...

[Komo]

No, your information is not correct. The $58.5k can include SA amount. However, if both spouses paying instalments, each will need to set aside $58.5k in their own CPF SA+OA. Also, $58.5k must be set aside first before you can use any remaining amount for downpayment & instalment.

use for stamp duties also can. Just nice to pay for renovation.

[Wild Falcon]

U guys are getting really cheem. This is slowly becoming a "how to use your CPF" thread liao. Honestly, I'm not aware of any of these rules - do they only apply to HDB flats?

[sleek]

Believe it is "NO" for the Q1, not even BUC or TOP until MOP is reached. And for Q2, MS can include from both OA & SA account. You can log in CPF website where they have an online calculator to show you the details.

My apologies.... But I really got quite confused reading this forum. Any answers to the following questions?

1) If couple received concessionary HDB loan (and have no means to repay HDB in the immediate future), can couple purchase a 2nd property within the MOP?

- If the answer to (1) is no, is it then possible to appeal to HDB that the 2nd property is under construction, and by time it reaches TOP, the HDB property would have fulfilled the MOP?

2) What constitutes the minimum sum of $58,500 (or $61,000 wef 1 July 2010) per pax? Is it the OA only, or is it the OA+SA? And if someone buys a property today, but exercises the option on or after 1 July 2010, should the minimum sum be $58,500 or $61,000?

After my friend's case, I think it is also good for the real estate agent's industry to establish a common checklist to go through with the prospective buyer before purchase of any property, and the checklist can possibly include a series of questions to determine if that buyer(s) is eligible to purchase a 1st/2nd (or subsequent) property. The prospective buyer has to sign off that checklist before option monies/OTP can be finalised. That will save some poor souls their hard-earned money. Also protects the agent(s) from any potential disputes later down the line.

[scsc]

yup... BEST to consult CPF on MS stuff.... gonna dig dig dig the CPF website... last resort is go down & ask...

[sleek]

Yup, that's what I'd found out when using CPF for my 1st private property.

yup... BEST to consult CPF on MS stuff.... gonna dig dig dig the CPF website... last resort is go down & ask...

[amk]

1) If couple received concessionary HDB loan (and have no means to repay HDB in the immediate future), can couple purchase a 2nd property within the MOP?

- If the answer to (1) is no, is it then possible to appeal to HDB that the 2nd property is under construction, and by time it reaches TOP, the HDB property would have fulfilled the MOP?

no. not possible. very strict on this. no way.
why ? because, if they allow you, you can always sell before TOP isn't it ? so what's the point of MOP ? so everyone can go out and use gov's money (the grant) to speculate on properties. This is the rationale of this rule.
This MOP rule is the strictest rule gov will enforce. Minimum sum, some times still can talk. MOP no.

2) What constitutes the minimum sum of $58,500 (or $61,000 wef 1 July 2010) per pax? Is it the OA only, or is it the OA+SA? And if someone buys a property today, but exercises the option on or after 1 July 2010, should the minimum sum be $58,500 or $61,000?

OA+SA. At the time you signed the option not exercise.

After my friend's case, I think it is also good for the real estate agent's industry to establish a common checklist to go through with the prospective buyer before purchase of any property...

u really gave too much credit to these agents. they couldn't care less. It's your problem, not theirs. More over, it's not very polite for the agent to ask a potential buyer "you sure you can buy ?". It's like an insult. This is really YOUR own problem, not the agent's.

do they only apply to HDB flats?

MOP obviously is a HDB thing. CPF Minimum Sum applies to all pties.

[gohsoonk]

Answer to (1) is yes. Concessionary HDB loan is to take loan at 2.5% from HDB directly. Conditions are at https://services2.hdb.gov.sg/webapp/...anTermCond.jsp.

However, if you buy within MOP, you cannot stay there.

If you take CPF grant (as said by sleek), you cannot purchase 2nd property within MOP.

Answer to (2) is OA+SA.

It should be based on the date that the purchase option is signed and not when the option is exercised.

My apologies.... But I really got quite confused reading this forum. Any answers to the following questions?

1) If couple received concessionary HDB loan (and have no means to repay HDB in the immediate future), can couple purchase a 2nd property within the MOP?

- If the answer to (1) is no, is it then possible to appeal to HDB that the 2nd property is under construction, and by time it reaches TOP, the HDB property would have fulfilled the MOP?

2) What constitutes the minimum sum of $58,500 (or $61,000 wef 1 July 2010) per pax? Is it the OA only, or is it the OA+SA? And if someone buys a property today, but exercises the option on or after 1 July 2010, should the minimum sum be $58,500 or $61,000?

After my friend's case, I think it is also good for the real estate agent's industry to establish a common checklist to go through with the prospective buyer before purchase of any property, and the checklist can possibly include a series of questions to determine if that buyer(s) is eligible to purchase a 1st/2nd (or subsequent) property. The prospective buyer has to sign off that checklist before option monies/OTP can be finalised. That will save some poor souls their hard-earned money. Also protects the agent(s) from any potential disputes later down the line.

[gohsoonk]

Only can use CASH to pay Stamp duties

use for stamp duties also can. Just nice to pay for renovation.

[sleek]

Yup, use Cash but can claim back from CPF.

Only can use CASH to pay Stamp duties

[Komo]

Only can use CASH to pay Stamp duties

yes, then ask your lawyer to claim from CPF. Takes about 2 mths to process.

[gohsoonk]

I thoz you were joking. Seems like you can do that.

http://mycpf.cpf.gov.sg/CPF/my-cpf/buy-house/BH4.htm

Thanks!

yes, then ask your lawyer to claim from CPF. Takes about 2 mths to process.

[novel]

u really gave too much credit to these agents. they couldn't care less. It's your problem, not theirs. More over, it's not very polite for the agent to ask a potential buyer "you sure you can buy ?". It's like an insult. This is really YOUR own problem, not the agent's.

MOP obviously is a HDB thing. CPF Minimum Sum applies to all pties.

true...most of the agents as long as collect the option to purchase they can get some $$ but really alot of HDB dweller might not be aware of this cpf min. sum. My fren recently tell me want to upgrade I told him to calculatate properly he said he did.... Later on I helped him to calculate he thot he can use all the CPF in his 3 a/c to pay hse loan leh!! He got 100K (45K OA +18 SA + 37k MA). I told him he can only use 1.5K nia after deduction of min. sum