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Hi Gurus, I’ve gotten my HLE but am appealing to get my 50% sales proceeds waived off to a smaller amount.
I signed an otp for resale hdb while still waiting for e appeal results. Will this affect my hdb completion? I’ve a valid HLE, if the appeal is successful, will e dates be different, then resulting in the HLE letter dated later than my OTP?
Will HDB reject my resale application when I exercised the OTP if my appeal is successful?
Also what is the success rates of the waiver of 50% sales proceed if we can prove that the proceeds was paid out to a 3rd party instead of our name?
Thank you for all ur input.
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2 Answers

Good day,

I would say the chances will not be very high as the rationale of this 50% sale proceeds is set aside so as to right-size your loan, and not to overstretch your finances. If there are no strong reasons to overcome this rationale, it is tough for HDB to approve. If they do approve, they will advise on whether a new HLE is required. If so, yes it can affect and delay the purchase completion, and you will have to go through another round of appeal and explain to the HDB officer of the deviation in procedures.

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As explained by Ivan,

Chances of having your appeal approved are relatively low chance therefore if there is a necessity to pay out your proceeds to 3rd party, then the probable route to take will be via the bank loan. You may appeal against the dates to change the loan to become bank loan instead in order to apportion your sales proceeds accordingly and yes, interest rates is definitely higher than HDB loan base on current market rates.

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