Hi,
Your question is very interesting. This properly only can happen during this covid situation.
Because it takes at least 3 months for a transaction to be complete. 1 buy and 1 sell already took 6 months.
And there is an SSD upon selling, which does not make sense to waste resources just for a mere 3 years.
In normal circumstances, BTO usually only took 3 years or more to get ready. So no one would even be considered to buy a private property while waiting for BTO to be ready.
It is really tricky to answer your question. There are 2 essential elements in your question, type of occupier & waiting period.
Type of occupier:
1) There are 2 types of occupiers under the HDB definition.
2) Essential occupier: This type of occupier forms an essential element in the application.
E.g. under the Public scheme, husband + wife form a family nucleus to be eligible for the public scheme. Husband is the owner, but wife listed as an occupier. In this case, the wife is an essential occupier. Thus has to follow HDB MOP policy.
3) Occupier: not necessary to be in the application to be eligible for the scheme.
E.g. husband + wife + child also forms a family nucleus. The husband is the owner, the wife is an essential occupier, the child is an occupier. The child does not need to comply with the HDB MOP policy. This is only if the child did not form an essential element to earn any privilege in the application process.
4) So to answer your question, you have to know whether you are an essential occupier under the HDB definition.
5) If you are an essential occupier, you have to comply with the HDB MOP policy.
6) If you are an occupier only, you may purchase private property during the MOP period.
The conclusion is most likely will get into trouble if you are an essential occupier to buy a private property during this waiting period.
Waiting Period:
1) Since you already booked a BTO HDB flat, meaning you are eligible as of application and signing of S&P.
2) There is only an eligible condition that might concern you, that is you have no interest in any private property for the last 30 months before and during the application, not after, and before key collection.
There are no specific rules saying that you are not allowed to buy or inherit a property during the waiting period. And the S&P signed also did not list a condition on this waiting period.
My suggestion is to write an email to HDB to receive an official black & white to prevent yourself from infringing their rules and regulation.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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