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Hi all, I currently own a HDB flat for which I am still servicing a mortgage loan from HDB. I have paid almost all of it and left with something like 15k. 2 years ago, I applied for a larger flat the BTO scheme and successfully got one. I also made the 10% downpayment.

At that point in time, when HDB requested me to apply for a loan, I declined as I wanted to sell off my current flat and use the proceeds to fully settle my new flat.

Now, the keys are ready for collection. However, HDB told me that I will need to sell off my current flat before getting the keys to my new flat. As the market is bad, I cannot wait forever to sell my flat. For obvious reasons, I need to move into my new place end of the year.

What are the options open to me, if I still cannot sell my current flat within a month or two.
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9 Answers

Hi,

Its not a problem as I have worked on hdb seller cases on tight timelines. Its important to get the pricing and marketing strategy right from the onset so to ensure a smooth transition. May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
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--- HDB Flat Sellers Uncle "Seng" and Mdm. Png ---

Translation from Mandarin:

We are from the Pioneer Generation, already in our 70s, and have no experience selling HDB flat. As our new BTO is arriving, we considered selling our flat earlier.

We felt he was a patient agent who is willing to hear out our plans and concerns, and explain new HDB selling procedures clearly to us. He is also a hardworking agent who did Roadshows for weeks to create awareness for our unit, and we quickly found a buyer through this avenue.

We also appreciate that he made the extra effort to accompany us down to the Banks and Town Council to help us with the outstanding paperwork procedures, and ensure the sale go through smoothly. Throughout the process, we always felt assured and happy, as Ivan was always professional, accessible and saw things through till conclusion. Ivan will remain as a family friend and we will be glad to invite him over for coffee when our BTO is ready. Read More
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YT Tan (陈永达)
Good morning seller,

Care to share why are you are not keen to take up a loan for your new flat?

You can either take up a HDB or bank loan without lock in period first. Settle and move in to your new flat while we find a qualified buyer. With this, you can fully pay your flat when you receive your sales proceeds.

You have to understand that timeline is very tight. We have to appeal for earlier first appointment (subject to approval), request for 3 months temporary extension from buyer for you to settle into new place etc.

With all these in mind, your sale price might be jeopardised as well.

Perhaps we can meet over a cup of coffee to discuss over your property sale as soon as possible.

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YT TAN 陈永达 | ACCA Graduate, RES
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Hi, as long as you could prove that you have engaged an agent who is actively marketing the sale of your unit, the dateline that was given to you by the HDB could be extended. As I have a similar case too and I'm most glad to share with you further.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Robbie Chen Chee Howe
Hi,

You should have started marketing your current HDB earlier in anticipation of keys collection.

Nevertheless, what you can do now is you can choose to take up a mortgage loan for your new BTO flat, and take the keys and move in by year end. You will then have up to 6 months to sell off your current HDB, which I feel is more than ample time.

Of course, it will be ideal if we can settle your sales in the next 1 month time. To achieve a sales in such time frame, we will need to discuss in depth on the marketing process.

Please contact me at my mobile 9748 6305  should you need assistance in the sale of your HDB.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Afternoon,

Should you have approached someone for assistance earlier, things might have being better. If you are in great need to sell away your unit fast, you can put it on fire sales. Low pricing with good location will attract a lot of attention. However, do note that do not get yourself into unwarned tight spot due to your current situation.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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GAN ENG JOO ONASSIS
Dear Upgrader,

Re: Today’s SG Professional Choice- SGAgent.com & SGRealtor.com

As long you a genuine seller selling at median transacted pricing. I will be confident to attract the buyers interests to give you an offer within median transacted pricing at your area.

Pls provide your contacts detail in order to contact you based upon your stated contents and walk you through the entire process with options.

I am contactable at 92222389  or onassis@sgagent.com / sgrealtor.com
In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

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" Engage 1 & Get More than 800 Agents from the #1 TEAM in ERA to Serve You!” Read More
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Move on 2 ways simultaneously. Apply for a housing loan now in order for you to start work on your new flat. On the sales aspect, you will need to intensify the marketing aspects and adjust your expectations level if you really wish to conclude a fast sale. I do not believe that you are unable to command any premium in the current market, more on what can be done to command that premium. I recently had 2 offers for 2 different units coming in above the recent transacted prices for their respective projects and am still in the midst of working to improve on these offers. A positive mindset in this circumstance will be helpful too.

Keep in touch!

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Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B)
CEA Reg R014783H
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Hi Avalon,
You can take up a loan and collect the key first, but must sell the current flat within 6 months which is achievable. I had assisted a few of my clients through this process before.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More
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Joanne Chia 谢诗琳
good day sir / madam .

You may want to consider taking a loan if you qualify .

You have to check is your agent doing a reasonable standard of marketing for your property .

You have to check is your selling or asking price realistic and fair market value .

Kindly contact me or a no-obligations chat for your property needs .

My charges are 1% commission for exclusive selling rights to your hdb ( sole agent ) , or 2% for open listing ( many agents ) .

Thank you .

Joanne chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More
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