View Full Version : Buying of a resale condo
Hi all, need some advice on the payment of a resale condo (not able to find full information online):
1. I paid 2 x Stamp Duty, why is it so? 1 is Buyer's Stamp Duty (BSD) which is based on 3% minus $5400 and the other is Stamp Duty of a flat rate $500.
2. The previous owner rented out the unit, thus is it under Residential which incurred a 10% property tax and now she is asking to pay based on 10% for the period I am taking over. But I will be staying in the unit which only incurred a 4% and the amount I need to return her is double what i should be paying (is like I am paying for the whole annual based on 4%). Can i argue that on that to pay I am rightful to pay?
3. The agent made some promises such as Tenant will repair defects and owner will clean up the unit before handing over through sms, it is legal efficacy? As now the owner is not going to do any of those, except for the paintwork which was stated in the OTP (I wanted to indicate more clause but the agent refused to write.. which I now know why).
4. Why I need to get a cashier's order to pay the previous owner on the maintenance fee + property tax as personal cheque is not accepted for completion of purchase (As i need to go to bank to get the cheque and pass to the law firm, super troublesome)
abit lengthy, but kinda lost here... thanks in advance.
Point 1 - $5400 BSD $500 mortagage stamp duty
Point 2 - cos she already paid property tax for that year..you take over have the pro rate based on the 10%
Point 3 - No use
Point 4 - your lawyer never tell you why cashier order only? I think mine got say but I forget what is the reason
2. Can pay and ask for refund from IRAS .
3. The agent made some promises such as Tenant will repair defects and owner will clean up the unit before handing over through sms, it is legal efficacy? As now the owner is not going to do any of those, except for the paintwork which was stated in the OTP (I wanted to indicate more clause but the agent refused to write.. which I now know why).
Whose agent, buyer or seller agent.
2. Can pay and ask for refund from IRAS .
But unless is in black and white that you paid, can also ask the seller to ownself claim refund from IRAS. Agentlless seems very cham for first time buyer.
Personal cheque is acceptable.
proud owner
15-09-16, 19:58
talk to your lawyer ...
i dont see why you should 'reimburse' the seller property tax based on 10pct ..
to you ... it should only be 4pct ..
seller should claim from IRAS for the pro rated amount ... not you
you should pressure your agent to relate the message to seller ...
as in the tenancy agreement ...
tenant must return the unit 'flawless' ...
if not, his deposit will be used to do the repairs etc ..
how can seller keep the deposits and you pay for repair ??
Yes indeed, in fact even HDB handover have to restore everything unless buyer doesn't mind certain installations.
My relative had to dismantle all the spare room and partition board upon selling and moving out.
Don't think there is such thing as "flawless" handover here, it is basically willing seller willing buyer for a property "as is" based on the what has already been agreed in the Option-to-Purchase.
From the description, it seems like the tenancy expires before the buyer took over the property, hence there is now these disputes (because seller took over the property from tenant, deduct all those money from tenant's deposits meant to make-good the property, but refused to actually do so before handling over to the buyer - very common smelly tactics here)!
talk to your lawyer ...
i dont see why you should 'reimburse' the seller property tax based on 10pct ..
to you ... it should only be 4pct ..
seller should claim from IRAS for the pro rated amount ... not you
you should pressure your agent to relate the message to seller ...
as in the tenancy agreement ...
tenant must return the unit 'flawless' ...
if not, his deposit will be used to do the repairs etc ..
how can seller keep the deposits and you pay for repair ??
Don't think all that you mentioned applies to private properties.......
Yes indeed, in fact even HDB handover have to restore everything unless buyer doesn't mind certain installations.
My relative had to dismantle all the spare room and partition board upon selling and moving out.
Yah I think HDB will insist that they are done before handover. Even false ceiling have to return to original even if the buyer doesn't mind.
But private is I guess private bah... Nobody to stand up for you.
Trying to beat down price assuming everything will be fixed by yourself is best bet?
Don't think all that you mentioned applies to private properties.......
proud owner
16-09-16, 01:31
Don't think there is such thing as "flawless" handover here, it is basically willing seller willing buyer for a property "as is" based on the what has already been agreed in the Option-to-Purchase.
From the description, it seems like the tenancy expires before the buyer took over the property, hence there is now these disputes (because seller took over the property from tenant, deduct all those money from tenant's deposits meant to make-good the property, but refused to actually do so before handling over to the buyer - very common smelly tactics here)!
If indeed the seller has 'taken' part of the deposit meant for repair.... then buyer should really talk to his lawyer ... use sms messsages from Agent as evidents ...
see if can pressure seller to repair defects
proud owner
16-09-16, 01:34
Just wondering.....
in cases where illegal renovations has been done, especially when it affected the GFA ... and new owner bought without such knowledge ... what happens ?
i know of 1 unit that was for sale a couple of months ago .. had an outdoor jacuzzi became fully indoor ....
spoke with the agent before and he was aware of that ...
but i dont see that advert anymore ... not sure if it was sold
But unless is in black and white that you paid, can also ask the seller to ownself claim refund from IRAS. Agentlless seems very cham for first time buyer.
super cham, never again. Confirmed by my lawyer that it is a market practice to reimburse the seller's Property Tax and I will then claim refund from IRAS (as I will be paying under Owner-Occupier scheme).
spoken to my lawyer, it will be no effect unless it is written black and white on the OTP. since the agent is seller's, he will sell the unit which is on seller's advantage. Seriously, i think the buying private property process seems to be much more complicated then hdb since there is no protection towards the seller/buyer as it is a private market. Now trying to comfort myself by keep looking at the transaction for the condo as I am paying the lowest so far... thus pay what you get..
super cham, never again. Confirmed by my lawyer that it is a market practice to reimburse the seller's Property Tax and I will then claim refund from IRAS (as I will be paying under Owner-Occupier scheme).
Ok lah, can claim back means money not lost.
The point of price entry is your advantage. Just park the difference between your price and the second lowest priced property as upgrading funds and spruce it up nicely.
Can still be enjoyable.
now another challenge! tmr i supposed to take over the keys, thus i message the agent on the arrangement, and he told me that MY LAWYER WILL PASS ME THE KEYS! when it's my legal side's person asking me what is my taking over keys arrangement! omg... then i called back to ask my legal's personnel, why is the keys with her and how to check or feedback on the unit if different from 2 months ago?! she simply told me that that is not her job (checking). if i discovered anything, then let her know to see if got follow-up action. i fainted...
spoken to my lawyer, it will be no effect unless it is written black and white on the OTP. since the agent is seller's, he will sell the unit which is on seller's advantage. Seriously, i think the buying private property process seems to be much more complicated then hdb since there is no protection towards the seller/buyer as it is a private market. Now trying to comfort myself by keep looking at the transaction for the condo as I am paying the lowest so far... thus pay what you get..
530k lowest?
proud owner
20-09-16, 18:23
spoken to my lawyer, it will be no effect unless it is written black and white on the OTP. since the agent is seller's, he will sell the unit which is on seller's advantage. Seriously, i think the buying private property process seems to be much more complicated then hdb since there is no protection towards the seller/buyer as it is a private market. Now trying to comfort myself by keep looking at the transaction for the condo as I am paying the lowest so far... thus pay what you get..
especially for First time Buyers, it is all good and nothing bad to engage a trustworthy agent who will look after your back.. cos you are probably not familiar with a lot of procedures.
even for seasoned buyers, often time, they use the service of an agent.
proud owner
20-09-16, 18:25
now another challenge! tmr i supposed to take over the keys, thus i message the agent on the arrangement, and he told me that MY LAWYER WILL PASS ME THE KEYS! when it's my legal side's person asking me what is my taking over keys arrangement! omg... then i called back to ask my legal's personnel, why is the keys with her and how to check or feedback on the unit if different from 2 months ago?! she simply told me that that is not her job (checking). if i discovered anything, then let her know to see if got follow-up action. i fainted...
Yes you will collect keys from your lawyer...
usually the seller lawyer will hand the keys to Buyer lawyer in the morning and you can collect by noon-ish ....
Did you take pictures of the property BEFORE ?
So that you can compare with the AFTER ?
now another challenge! tmr i supposed to take over the keys, thus i message the agent on the arrangement, and he told me that MY LAWYER WILL PASS ME THE KEYS! when it's my legal side's person asking me what is my taking over keys arrangement! omg... then i called back to ask my legal's personnel, why is the keys with her and how to check or feedback on the unit if different from 2 months ago?! she simply told me that that is not her job (checking). if i discovered anything, then let her know to see if got follow-up action. i fainted...
Congrats! Thought you collected the keys awhile back as you were asking about ID works etc.
Unless when you open the door and see all walls plus ceiling also gone, nothing to fret about.
Enjoy the journey of transforming your house into a home totally done up just the way you like. Dun rush and take time to think through what you really need on a daily basis eg dun create storages that are machiam obstacles course to reach or put in a king sized bed and every time you go into the bedroom, your first step is on the bed 😂 Kidding.
All the best. Hopefully the termites and all have already migrated into the toilet bowl.... Hehe
ya, im now detailing my experienced of buying a private property [alone] as some of my girlfriends [single as well] asking me a lot of questions. hopefully they can learn from my lessons as well so as to make things smoother for them. i am kinda allergic to dust and all those little creatures, thus when i viewed the unit (tenant already moved out) all my reactions appeared (sore eyes, itchiness etc) as i was touching here and there within a mere 15mins.. thus, inclusion, i did not take any photos except for the termites (which i still can see it with my red eyes).. so i expect to swallow whatever it is as i do not have the before-photos to prove there is any difference... haiz. another lesson learnt.
the targeted timeline should be 21-Sep take keys, 23-Sep contractor take actual measurement for carpentry works, 7-Oct starts installation of cabinets/reno, 14-Oct reno completes then i can finally move-in. based on the situation, i think i have to delay abit.
Now having another dilemma whether to dismantle the existing cabinets (laminates kinda in bad condition) or just to clean off the stains and bear with the laminates.. as the dismantle and fabricate new cabinets cost $4k (before GST)!
ya, im now detailing my experienced of buying a private property [alone] as some of my girlfriends [single as well] asking me a lot of questions. hopefully they can learn from my lessons as well so as to make things smoother for them. i am kinda allergic to dust and all those little creatures, thus when i viewed the unit (tenant already moved out) all my reactions appeared (sore eyes, itchiness etc) as i was touching here and there within a mere 15mins.. thus, inclusion, i did not take any photos except for the termites (which i still can see it with my red eyes).. so i expect to swallow whatever it is as i do not have the before-photos to prove there is any difference... haiz. another lesson learnt.
the targeted timeline should be 21-Sep take keys, 23-Sep contractor take actual measurement for carpentry works, 7-Oct starts installation of cabinets/reno, 14-Oct reno completes then i can finally move-in. based on the situation, i think i have to delay abit.
Now having another dilemma whether to dismantle the existing cabinets (laminates kinda in bad condition) or just to clean off the stains and bear with the laminates.. as the dismantle and fabricate new cabinets cost $4k (before GST)!
Suggestions :
1. Get quotations from a few contractors on cabinets. Compare materials and what-nots. 4k sounds a lot but then no idea of dimensions and materials to be used.
2. If existing ones CONFIRMED CHOPPED AND VERIFIED termites free etc etc (pls get professional advice from pest control company hor, not base on eye power, red or blue or green) then can consider getting contractor to give the cabinets new laminates and clean up the interior.
Dun cut corners and live to regret. Penny wise pound foolish hinges on HOPE, the kind that is not about faith but machiam tikam tikam.
Please check market rates. With Internet and expos every now and then, you have access to many choices of varying budgets etc.
Ok, that's just some pinches of salt, leftover from life's experience, some sea salt and mostly table salt.... 😂
Good luck! You need this regularly to triumph over your impulsiveness... Pardon my choice of words, no intention to offend.
Regards
in need of all genuine advice (taking positively thus definitely not offended)!
1. Gotten a quote from direct contractor, quoting $3k with GST for 8.5ft top cabinet + 6ft bottom cabinets with all accessories (table-top, sink, etc etc) while my existing ID quoting $4.2k which that's why i feel expensive.
2. my 2nd option is to change the laminates which my existing ID quote $400 just for cabinet doors only (which is.. er 3?)
3. As i will be taking the key at night, doubt i can view the unit tomorrow and probably can only view it with my ID's contractor comments on Friday (i got a super hectic week! not sure enough time to talk to the contractor or not)
here is the scenario
(1) try to press down my ID's price on dismantle + new cabinets (at least close to $3k) and let him do.
(2) drop the items from my ID. when they finishing their portion, then get the direct-contractor to do the dismantle+new cabinets installation (save more than $1k but expect at least 2 weeks delay)
(3) bear with the cabinets, just change the door laminates for just $400 (a zero difference)
Now doing research for post reno/pre-move-in cleaning service... not sure how thorough they clean also... but if i clean myself sure die (though i am confident of my quality work!) wondering if there are 1 stop service as in pest control + sterilizing the house (i need that!!!) + painting (ID quote me $1.5k for it) + thorough cleaning?
in need of all genuine advice (taking positively thus definitely not offended)!
1. Gotten a quote from direct contractor, quoting $3k with GST for 8.5ft top cabinet + 6ft bottom cabinets with all accessories (table-top, sink, etc etc) while my existing ID quoting $4.2k which that's why i feel expensive.
2. my 2nd option is to change the laminates which my existing ID quote $400 just for cabinet doors only (which is.. er 3?)
3. As i will be taking the key at night, doubt i can view the unit tomorrow and probably can only view it with my ID's contractor comments on Friday (i got a super hectic week! not sure enough time to talk to the contractor or not)
here is the scenario
(1) try to press down my ID's price on dismantle + new cabinets (at least close to $3k) and let him do.
(2) drop the items from my ID. when they finishing their portion, then get the direct-contractor to do the dismantle+new cabinets installation (save more than $1k but expect at least 2 weeks delay)
(3) bear with the cabinets, just change the door laminates for just $400 (a zero difference)
Now doing research for post reno/pre-move-in cleaning service... not sure how thorough they clean also... but if i clean myself sure die (though i am confident of my quality work!) wondering if there are 1 stop service as in pest control + sterilizing the house (i need that!!!) + painting (ID quote me $1.5k for it) + thorough cleaning?
Base on my pinches of salt :
1. ID quote is definitely higher than direct contractors. They are technically the 'middle man' and gets a cut for every trade called in.
2. Materials and what-nots same same? Or almost. Red apple vs green apples are at least still apples. 😂
3. Is there a deadline to move in? If all things considered including the reliability and reputation of direct contractor, that 1k savings is a considerable plus point vs your ID.
4. Chemical washing of whole house is something that is advisable but it is not the same as termites termination type of activity. In fact I would suggest you pay abit more attention to what is offered in this regard because you are extremely sensitive to dust and all. One-stop service providers may not be good in all aspects of the type of cleaning you are looking for eg sterilisation of house is different from termites treatment. Half past six jobs is still not 7....😂
Ok, let's wait awhile for others to share their pinches of salt from their personal experience. Perhaps you may even get some strong recommendations for the merchants you need.
Regards
yeah!!!! gotten my keys! cant really check the condition as by the time the legal rep hand-over the keys are almost 8pm (in total darkness)... and the following things were noticed:
1. definitely need to repaint
2. a major clean up is needed (so ended up the owner did not clean as well. and super yucks is the painting contractor open big and small business in the toilet without any water supply! nearly vomitted)
3. need to change all the keys (when asking why all keys comes only one, she told me that accordingly to law, the owner just need to pass 1 set of keys to the buyer, any duplicates are just extra! so dangerous)
Activated the SP services for electricity turn-on on this Friday, just nice that the ID contractor will be doing site-visit for measurement taking. But prior to that will need to talk to the ID face-2-face to finalize the items which I will be doing... headache.
Saw a list of preferred contractor by the condo, going to call and enquire since they should be familiar with the place but not sure of the pricing though..
proud owner
21-09-16, 21:43
yeah!!!! gotten my keys! cant really check the condition as by the time the legal rep hand-over the keys are almost 8pm (in total darkness)... and the following things were noticed:
1. definitely need to repaint
2. a major clean up is needed (so ended up the owner did not clean as well. and super yucks is the painting contractor open big and small business in the toilet without any water supply! nearly vomitted)
3. need to change all the keys (when asking why all keys comes only one, she told me that accordingly to law, the owner just need to pass 1 set of keys to the buyer, any duplicates are just extra! so dangerous)
Activated the SP services for electricity turn-on on this Friday, just nice that the ID contractor will be doing site-visit for measurement taking. But prior to that will need to talk to the ID face-2-face to finalize the items which I will be doing... headache.
Saw a list of preferred contractor by the condo, going to call and enquire since they should be familiar with the place but not sure of the pricing though..
Congrats ...
Personally, since this is going to be where i live, i will engage a cleaner service.
Change the kitchen cabinets, etc... in fact, if the lay out is no good, take the opportunity to change it.
Check wind directions ... some kitchen very bad lay out ... stand there cooking can be like standing in sauna ..
you might want to be sure theres proper ventilation ...also in toilet... if can fix ventilators..better ... otherwise sit there pang sai can be torturous
any form of reno you want to do , better to do it now.
Once you move in, very very troublesome ...
hard to do any kind of reno when one is living there ...
what you said is true. better change now, rather than move in already then cannot stand with the defects/wear and tear of the existing cabinets... ended up becomes eye-sore. will need to evaluate again tomorrow after i turn on the electricity supplies.
But just wondering, how to control the electricity usage cos i scared the contractor anyhow on the air con etc.
And I want to change the main door lock + mailbox lock but how do i go about? i search online, mostly are digital lock or padlock... cos condos are those normal wooden door lock..
for the lock, get a locksmith and they will settle for you.
what you said is true. better change now, rather than move in already then cannot stand with the defects/wear and tear of the existing cabinets... ended up becomes eye-sore. will need to evaluate again tomorrow after i turn on the electricity supplies.
But just wondering, how to control the electricity usage cos i scared the contractor anyhow on the air con etc.
And I want to change the main door lock + mailbox lock but how do i go about? i search online, mostly are digital lock or padlock... cos condos are those normal wooden door lock..
any locksmith can choose for condos? as in any different in those which usually do for HDB?
proud owner
22-09-16, 23:55
what you said is true. better change now, rather than move in already then cannot stand with the defects/wear and tear of the existing cabinets... ended up becomes eye-sore. will need to evaluate again tomorrow after i turn on the electricity supplies.
But just wondering, how to control the electricity usage cos i scared the contractor anyhow on the air con etc.
And I want to change the main door lock + mailbox lock but how do i go about? i search online, mostly are digital lock or padlock... cos condos are those normal wooden door lock..
For me, i changed my main door lock to digital ... Hate carrying keys , risk losing the keys also.
Mail box lock .... you need to 'wait' for postman to come ... then change the lock..
proud owner
22-09-16, 23:56
any locksmith can choose for condos? as in any different in those which usually do for HDB?
same
For me, i changed my main door lock to digital ... Hate carrying keys , risk losing the keys also.
Mail box lock .... you need to 'wait' for postman to come ... then change the lock..
Eh... why need to wait for the postman?
The ID need my keys, so will change after reno is done. Once and for all.
anyone can advice which type of nippon paint to use? a contractor quoted me $500 for vinilex 5000 whole house... but not sure should use those anti-fungus or mold or not
proud owner
25-09-16, 23:49
Eh... why need to wait for the postman?
The ID need my keys, so will change after reno is done. Once and for all.
For letter box...most if not all letter box nowadays ... postman has master key ...
to change the individual lock, you need to open the main big panel first ... hence need to wait for postman ... if not you check with you MA (management agent, mcst) see if they have the key.. my understanding is ... ONLY postman holds the master key
as for your main door ... look up SAMSUNG etc ... they have quite nice digital lock ... there are also some where they can go to your unit to assess and recommend which model to use..
on the spot you can buy and they change for you ..
you can set your own password which is numeric ... it also comes with 2 tags ...
pass the tags to your ID ...
that way they wont know your pass word ...
to be safe ... once everything is done ... change the password again
Oh din know the letter box key thingy. Lucky haven't trigger the locksmith. Now having dilemma if want to change now or after reno since my ID is holding to my key..
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