Here's a breakdown of your situation and options regarding selling your HDB resale flat after the MOP:
**Challenges of Selling an HDB Flat:**
* **External Market Factors:** You're right; external factors beyond your control can influence the market and potentially make selling your flat difficult.
**Options if Unable to Find a Buyer (After MOP):**
* **Open Market Sale:** Continue trying to sell through the open market using a property agent or listing platforms. Consider adjusting your asking price to reflect market conditions if necessary.
* **Surrender to HDB (Sale of Balance Flat Scheme):** HDB offers the "Sale of Balance Flat Scheme" where you can surrender your flat to them under specific conditions. However, there are potential downsides:
* **Valuation:** HDB will value your flat, and the sale price might be lower than the market value.
* **Refund of CPF:** You'll need to refund any CPF used for the initial purchase and accrued interest.
* **Loss of Subsidies:** You might lose some HDB grants you received when you bought the flat.
**Here are some additional points to consider:**
* **Timeline for Sale:** While 8-10 months might seem like a long time, the HDB resale market can be dynamic. Consider extending your selling period if the market recovers before you absolutely need to upgrade.
* **Speak to a Property Agent:** A good property agent can help you develop a realistic selling strategy and advise on adjusting the asking price based on market trends.
* **HDB Eligibility for Upgrading:** Remember, even after selling your current flat, you'll need to meet HDB's eligibility requirements (including the MOP for your next flat) before you can purchase another HDB flat for upgrading.
**It's important to weigh the pros and cons of each option.** Consider consulting an HDB branch or a qualified property agent for specific guidance based on your situation and the prevailing market conditions when the time comes to sell.
WhatsApp me at: ABLE Toh >>9856 9255 or through this link.:https://wa.me/6598569255
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"If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
WhatsApp me at: ABLE Toh >>9856 9255 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)>>9856 9255>> 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 ”
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Ok thanks for the info Landon.