You can still buy a resale HDB flat. However, there are repercussions. If you had booked a flat but decide to cancel your application before signing the Agreement for Lease, your option fee will be forfeited. In addition, you must wait out a 1 year period from the date of cancellation of the application before you can apply or be included as an essential occupier for the following:
1. New HDB flat
2. DBSS flat from developers
3. Executive Condominium unit from the developers
4. Resale flat with CPF Housing Grant
5. Resale flat that has been announced for SERS
You may refer to HDB's link here: https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/new/buying-process/changes-and-cancellation
We advise you to think through carefully before cancelling your BTO flat.
Hope this answers your question.
Team PropertyGuru Read More
Should you decide to purchase a HDB resale flat, you will have to give up your BTO application. You will also need to serve a 5-year MOP for your resale flat before being able to apply for another BTO flat.
I am experienced and well-versed in both HDB resale and private transactions. I will be able to assist you in your property plans.
Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305. I will be happy to assess and share with you the possibilities for you in the current market.
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