Asked by Derrick
Hi Gurus, I have a 5 room HDB flat with tenants currently. Can I sell it with tenants? Appreciate your advise. Thanks.
3018 views
3 Answers
Morning Derrick,
You can definitely sell your unit now, with tenants, but your tenants must move out before the offical completion for the transaction. It will then be your duties and liabilities to settle the tenant's issue as per your TA.
FYI
Mike Lim
96929209
ERA Read More
You can definitely sell your unit now, with tenants, but your tenants must move out before the offical completion for the transaction. It will then be your duties and liabilities to settle the tenant's issue as per your TA.
FYI
Mike Lim
96929209
ERA Read More
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In Singapore, HDB flats are typically sold with vacant possession. This means that your tenants will need to vacate the property before the completion of the sale.
**Here are some options available to you:**
1. **Sell with Tenants and Include a Clause in the Sales Agreement:**
You can sell your HDB flat with the tenants still occupying it, but this will require the buyer's agreement and must be clearly stated in the Option to Purchase (OTP) and the Sale and Purchase Agreement (SPA). The clause should specify the tenancy terms, including the rental amount, lease duration, and when the tenancy will end. This option might attract a niche group of buyers, such as investors who are looking for a property with immediate rental income.
2. **Terminate the Tenancy Agreement:**
You can terminate the existing tenancy agreement by giving your tenants sufficient notice as per the terms of the contract. This allows you to sell the flat with vacant possession. Ensure you follow the proper legal procedures and notice periods to avoid any disputes with your tenants.
3. **Negotiate with Tenants:**
You can try to negotiate with your tenants to see if they are willing to move out earlier than the lease expiry date. You could offer them incentives, such as partial rental reimbursement or assistance in finding a new place.
4. **Wait for the Lease to Expire:**
If you have time and the tenancy agreement is nearing its expiry date, you can wait for the lease to end naturally before listing your flat for sale.
**Recommendations:**
* **Communicate Openly:** It's important to communicate openly and honestly with both your tenants and potential buyers about the tenancy situation. This will help manage expectations and avoid any misunderstandings.
* **Consult a Property Agent:** If you're unsure about the best approach, consult with a property agent experienced in HDB transactions. They can provide advice on the most suitable options for your situation and help you navigate the process.
* **Seek Legal Advice:** If you have any concerns about tenancy agreements or potential disputes, seek legal advice from a qualified professional.
Remember, selling an HDB flat with tenants can be more challenging than selling with vacant possession. However, with careful planning, open communication, and professional guidance, you can successfully navigate the process and achieve a satisfactory outcome.
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
----------------------------888--------------------------------888--------------------------->>>
"If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )
(***) You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.
For buyers, I offer solutions for sourcing resale and new private homes at no charge.
I can connect you with reputable bankers for private housing loans free of charge and with no obligation.
I also have partners to assist with mortgage home insurance matters.
Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!
*** You can reach me at my Singapore mobile: (65) 98 56 92 55 or email me at Able.selling@gmail.com.
From: ABLE Toh- Your Property ASSISTANT : ）
“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”
XXXXX The End XXXXXXX Read More
**Here are some options available to you:**
1. **Sell with Tenants and Include a Clause in the Sales Agreement:**
You can sell your HDB flat with the tenants still occupying it, but this will require the buyer's agreement and must be clearly stated in the Option to Purchase (OTP) and the Sale and Purchase Agreement (SPA). The clause should specify the tenancy terms, including the rental amount, lease duration, and when the tenancy will end. This option might attract a niche group of buyers, such as investors who are looking for a property with immediate rental income.
2. **Terminate the Tenancy Agreement:**
You can terminate the existing tenancy agreement by giving your tenants sufficient notice as per the terms of the contract. This allows you to sell the flat with vacant possession. Ensure you follow the proper legal procedures and notice periods to avoid any disputes with your tenants.
3. **Negotiate with Tenants:**
You can try to negotiate with your tenants to see if they are willing to move out earlier than the lease expiry date. You could offer them incentives, such as partial rental reimbursement or assistance in finding a new place.
4. **Wait for the Lease to Expire:**
If you have time and the tenancy agreement is nearing its expiry date, you can wait for the lease to end naturally before listing your flat for sale.
**Recommendations:**
* **Communicate Openly:** It's important to communicate openly and honestly with both your tenants and potential buyers about the tenancy situation. This will help manage expectations and avoid any misunderstandings.
* **Consult a Property Agent:** If you're unsure about the best approach, consult with a property agent experienced in HDB transactions. They can provide advice on the most suitable options for your situation and help you navigate the process.
* **Seek Legal Advice:** If you have any concerns about tenancy agreements or potential disputes, seek legal advice from a qualified professional.
Remember, selling an HDB flat with tenants can be more challenging than selling with vacant possession. However, with careful planning, open communication, and professional guidance, you can successfully navigate the process and achieve a satisfactory outcome.
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
----------------------------888--------------------------------888--------------------------->>>
"If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )
(***) You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.
For buyers, I offer solutions for sourcing resale and new private homes at no charge.
I can connect you with reputable bankers for private housing loans free of charge and with no obligation.
I also have partners to assist with mortgage home insurance matters.
Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!
*** You can reach me at my Singapore mobile: (65) 98 56 92 55 or email me at Able.selling@gmail.com.
From: ABLE Toh- Your Property ASSISTANT : ）
“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”
XXXXX The End XXXXXXX Read More