To the lady who wrote in a comment. I forgot to ask you your unit size - so I just calculated for all sizes (154 sqm to 161 sqm).
.
I have worked out the quantum used for the revised sale price for each unit size (it also depends on whether you are an alpha owner of a non-alpha owner). Since the costs & expenses were not calculable at the STB; the final sale proceeds cannot be given. Your legal costs seem to be unusually high - I think you have made a mistake there; but it doesn't matter as you are not anywhere near being a financial loss case,.
.
Old Sale price: $395,000,000
Alpha (financial loss)?- No
Insufficient funds to redeem CPF? No, your CPF is fully redeemed.
Insufficient funds to pay Cost & Expenses of sale? It depends on the size of your unit/ the C&E were not known. I think the C&E would have been no less than $20k* and maybe even as high as $30k. So you would have come away with very little cash after deducting C&E.
Alpha (financial loss)?- No
Insufficient funds to redeem CPF? No, your CPF is fully redeemed.
Insufficient funds to pay Cost & Expenses of sale? It depends on the size of your unit/ the C&E were not known. I think the C&E would have been no less than $20k* and maybe even as high as $30k. So you would have come away with very little cash after deducting C&E.
CPF rich - cash poor.
*I cannot say for definite what the C&E would have been, but I am pegging it to Waterfront View which was $19k.
.
These calculations are only applicable to the failed sale price of $395,000,000 and a 50-50 method of distribution (strata area - share value). I do not guarantee the figures are correct - just a blogger's armchair attempt. I hope someone else will have a go at deciphering the A-2 table and it's formulae.
These calculations are only applicable to the failed sale price of $395,000,000 and a 50-50 method of distribution (strata area - share value). I do not guarantee the figures are correct - just a blogger's armchair attempt. I hope someone else will have a go at deciphering the A-2 table and it's formulae.
Hi - Thank you very much for your help. Now at least i have a better understanding of the whole issue. You are right, I myself also do not understand why my legal fees was so high (could it be a lumpsum payment to the lawyer?)
ReplyDeleteAnyway, Thanks a lot.
"CPF rich - cash poor"
ReplyDeleteNot necessary, depending on this lady's age - only need to set aside min sum (abt S$106k after Jul 08) in CPF after 55th birthday, bal CPF can be withdrawed.