Getting a Divorce

[fallen11]

Originally Posted by rix6669

I don't think is hdb take back everything. But surrender to hdb is hdb buy back at below market value. Is this correct?

apply to hdb first to sell before MOP due to divorce.
HDB will approve and give 6 months to sell in open market.
If not sold after 6 months, HDB will buy the flat back at 90% of market valuation. So as long as its above 90% valuation, just sell it in the market.

[Turtle369]

Originally Posted by fallen11

apply to hdb first to sell before MOP due to divorce.
HDB will approve and give 6 months to sell in open market.
If not sold after 6 months, HDB will buy the flat back at 90% of market valuation. So as long as its above 90% valuation, just sell it in the market.

Can either party choose to buy from the other ? I’m 35 this year.

[fallen11]

Originally Posted by Turtle369

Can either party choose to buy from the other ? I’m 35 this year.

can, but with conditions:

1. have enough money. either CPF or cash or both.
2. You need to form a family cluster. This applies for BTO before MOP, not resale flat. For BTO before MOP, either get a new wife (must marry), get your parents (they must not own any hdb, or they must sell their hdb if they already own one), or 1 of your parent if your parents are divorced (that parents cannot own hdb).
3. The selling party must agree to sell his/her share to you and at what price. Work this out between yourselves. The selling party can refuse to sell to you and choose to sell it in the open market. You cannot take over the flat without the selling party's consent.

[texaschicken]

Originally Posted by fallen11

can, but with conditions:

1. have enough money. either CPF or cash or both.
2. You need to form a family cluster. This applies for BTO before MOP, not resale flat. For BTO before MOP, either get a new wife (must marry), get your parents (they must not own any hdb, or they must sell their hdb if they already own one), or 1 of your parent if your parents are divorced (that parents cannot own hdb).
3. The selling party must agree to sell his/her share to you and at what price. Work this out between yourselves. The selling party can refuse to sell to you and choose to sell it in the open market. You cannot take over the flat without the selling party's consent.

getting new wife may be difficult. if i not wrong force sale by hdb you get 6 months only ?

[Turtle369]

Originally Posted by fallen11

can, but with conditions:

1. have enough money. either CPF or cash or both.
2. You need to form a family cluster. This applies for BTO before MOP, not resale flat. For BTO before MOP, either get a new wife (must marry), get your parents (they must not own any hdb, or they must sell their hdb if they already own one), or 1 of your parent if your parents are divorced (that parents cannot own hdb).
3. The selling party must agree to sell his/her share to you and at what price. Work this out between yourselves. The selling party can refuse to sell to you and choose to sell it in the open market. You cannot take over the flat without the selling party's consent.

Originally Posted by texaschicken

getting new wife may be difficult. if i not wrong force sale by hdb you get 6 months only ?

Thanks guys.

[fallen11]

Originally Posted by texaschicken

getting new wife may be difficult. if i not wrong force sale by hdb you get 6 months only ?

yes 6 months usually
you may appeal to extend by another 3 months. I have not experienced this but i heard its quite easy to get extension approved. Of course you need reason on appealing for extension.
So expect 9 months max. Safest is 6 months.
Usually BTO that has special approval to sell before MOP can fetch a very good price. Even better price than a equivalent just-MOP flat, because its even newer.

[kayakracer]

Originally Posted by fallen11

yes 6 months usually
you may appeal to extend by another 3 months. I have not experienced this but i heard its quite easy to get extension approved. Of course you need reason on appealing for extension.
So expect 9 months max. Safest is 6 months.
Usually BTO that has special approval to sell before MOP can fetch a very good price. Even better price than a equivalent just-MOP flat, because its even newer.

and can sell to those who didnt get the ballot

[fallen11]

Originally Posted by kayakracer

and can sell to those who didnt get the ballot

yup but its no more bto price
is market valuation

[JiraJira]

Originally Posted by fallen11

yup but its no more bto price
is market valuation

market valuation would usually be higher than BTO price correct ? Do they get to keep the profits ?

[fallen11]

Originally Posted by JiraJira

market valuation would usually be higher than BTO price correct ? Do they get to keep the profits ?

yup
no the flat owner keep the profits

[texaschicken]

Originally Posted by fallen11

yes 6 months usually
you may appeal to extend by another 3 months. I have not experienced this but i heard its quite easy to get extension approved. Of course you need reason on appealing for extension.
So expect 9 months max. Safest is 6 months.
Usually BTO that has special approval to sell before MOP can fetch a very good price. Even better price than a equivalent just-MOP flat, because its even newer.

but the higher price aka profit goes to seller ? or hdb ?

[dessertboy]

Originally Posted by texaschicken

but the higher price aka profit goes to seller ? or hdb ?

answered liao seller keep profits.

[benjm85]

Hi guys i like to ask, i am currently staying with my wife and 2 kids in a resale hdb bought 3 years ago.
I am the sole owner of the house and my wife and kids are listed as essential occupier.
If divorce, my wife entitled to any share? I am the only person paying the mortgage loan and installment.

[fallen11]

Originally Posted by benjm85

Hi guys i like to ask, i am currently staying with my wife and 2 kids in a resale hdb bought 3 years ago.
I am the sole owner of the house and my wife and kids are listed as essential occupier.
If divorce, my wife entitled to any share? I am the only person paying the mortgage loan and installment.

yes. because its matrimonial home. even you are sole owner your wife will still be entitled to a share.

[benjm85]

Originally Posted by fallen11

yes. because its matrimonial home. even you are sole owner your wife will still be entitled to a share.

Oic..any idea how the allocation of share works? My wife did not pay a single cent though.