5 Answers

YT Tan (陈永达)
Good morning Donald,

I am afraid to inform you that you have to fulfill 5 years MOP before you can purchase any private property even though its TOP date is after your MOP date.

If you need to unlock funds from existing HDB to finance the initial outlay of the purchase, you will have to sell first before you can commit to a purchase. But doing so, you will have to find a temporary accommodation if the project is still under construction.

Hope my explanation helps!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com
Ivan Ng
Hi Donald,

Unfortunately you can only purchase a 2nd residential property after your 5 year MOP is fulfilled. There's no workaround over it. To sell within MOP period, you need to appeal but chances maybe slim. Thanks and hope to assist further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

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Ng Teck Chuan
Hi Donald,

You can only get a unit after your MOP; payment schedule would be as per new condo developments (progressive payment scheme), but it depends on which phase the development you're purchasing is at; that'd be if your HDB sale gives you positive sales proceed, and do note you'd probably need to stay somewhere else if the project haven't received TOP when you sell your place.

Feel free to contact me at your convenience for further discussion.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602
YT Tan (陈永达)
Good afternoon Donald,

yes you are right. If you purchase a completed private property, you just need to play around with the timeline which you dont have to find a temporary accommodation at all.

Based on current regulations, you must issue option to purchase for your sale in order to obtain max 80% bank loan and wont be subject to additional buyer's stamp duty. If so, you will have to pay 20% downpayment with buyer's stamp duty.

Hope my explanation helps!

We can keep in contact first so I can check back with you once the time is nearer to your MOP date.

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com
Ivan Ng
Good afternoon Donald,

Just doing a follow up, may I know if you are still pursuing your housing plans and the condo upgrade?

Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Top 600 Achievers in Year 2017 (Top 10%)
ERA Top 300 Achievers in 3rd Quarter 2017 (Top 5%)
SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.

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