If i am residing in a resale 5 room hbd flat, took up the first timer grant and if i want to sell within 3 years, it is possible ?
Posted by kenny ang on Jan 24, 2008 in General Questions | 2546 Views
Latest Answers by Real Estate Professionals (2 Answers)
Answer Posted on Jan 28, 2008
Under prevailing HDB policy, lessees of flats purchased from open market under CPF Housing Grant Scheme will be eligible to sell their flats in the open market after they have completed the minimum occupation period of 5years. If minimum occupation period is not fulfilled lessees are not allowed to sell their flat in the open market.
In your scenario, you have not fulfilled the minimum 5years occupation period. Therefore, you are not allowed to sell within 3years.
In your scenario, you have not fulfilled the minimum 5years occupation period. Therefore, you are not allowed to sell within 3years.
Answer Posted on Jan 29, 2008
As long you applied for grant, that was equivalent to purchasing a subsidised flat from HDB. The bad news is no. You cannot sell within 3 years. But you may write an appeal letter to HDB, subjected to approval.
In cases of early selling, one important thing is to look out for the outstanding loan balance regardless HDB loan or bank loan. You may put yourself at risk of negative sales if a large portion of the loan have not been repaid.
Feel free to contact me for a comprehensive sales proceeds calculation. Free of Charge.
In cases of early selling, one important thing is to look out for the outstanding loan balance regardless HDB loan or bank loan. You may put yourself at risk of negative sales if a large portion of the loan have not been repaid.
Feel free to contact me for a comprehensive sales proceeds calculation. Free of Charge.
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