You can start marketing before your Minimum Occupation Period (MOP) but the Option to Purchase must be exercised after your MOP.
You must first register your Intent to Sell via HDB's Resale Portal here: https://services2.hdb.gov.sg/webapp/BB31AWDashboardWeb/BB31PLogin.jsp
You may refer to HDB's link here: https://www.hdb.gov.sg/cs/infoweb/residential/selling-a-flat
Hope this answers your question.
Team PropertyGuru Read More
You can only start to Register your Intent to Sell after you have met your 5-years MOP. Unless you have gotten special approval to sell the flat, it is now way too early to start the marketing process.
Clementi Cascadia is a fantastic location, you surely will not need 1 year to get a Buyer for your unit. If your asking price is reasonable market price, I don't foresee you will need a long time to sell the flat. In fact, I have a Client who just purchased a 3RM flat there at $630k, from a Seller who had gotten special approval to sell the flat.
I am experienced and well-versed in both HDB and private transactions. My area of focus is in Central/Queenstown/Bukit Merah/West region, and I am blessed to have transacted several "million-dollar" HDB flats over the past 1-2 years, with many others in the $900k+ range. I will be able to assist you in your property plans.
Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305. I will be happy to assess and share with you the possibilities for you in the current market.
PropNex Realty Read More
Thanks Robbie. Appreciate your personalised reply! I'll save your number for when we're closer to the MOP!
The first step towards selling your existing HDB is to register your Intent To Sell on the HDB resale portal, basing on existing regulations. To do this, you must have already met the Minimum Occupation Period.
Yes it is true that some marketing campaigns take longer than the usual 2-3 months required to sell, but this can be down to several factors like ethnic quota restrictions and incorrect positioning of the property for sale, just to name 2 possibilities.
As long as the necessary feasibility studies have been conducted prior the marketing campaign where you are aligned to the market behaviour, the whole marketing campaign should not take more than 3 months usually.
I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.
I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.
Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.
With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.
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An experience agent should be able to list your unit quite immediate. Usually it will be on sale the next day.
On a straight forward transaction, the process takes about 3 months to complete. Generally, it should take about another 3 months to market provided the right marketing mix.
You may text 9620 0827 for a casual chat.
Gavin Read More
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Thank you for your query!
I have handled the sales of myriad of units from HDB to private non landed - having also transacted an EM unit in Bishan at a record price which was published in the National Newspaper (article on website).
If you would like assistance in this matter, please do contact me for a discussion for me to advise you further and share in depth price analysis details on your unit and surrounding vicinity (capital % gains). More details on your end will enable me to churn out a more comprehensive, exact and thorough financial calculations with exact figures. Furthermore, I would be able to share more on the varied marketing strategies and mediums through which your property might get maximum exposure as well as study the recent up to date transaction caveats of similar sized units in vicinity and hence, present a sales and elevation report to advise further. There are many marketing techniques -online (number of Portals) , physical means ( professional photography /videography) and highly crossed networking with other agents to refer their clients. It is an intricate yet streamlined process.
Do Visit my website for my recent accolades and testimonials@ www.kumarrai.com.
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Do take note that you can register intent to sell on or after MOP date which is for your case, oct 2022 (2 years down the road). Option to purchase (OTP) can only be issued 7 days after registration of intent to sell.
It will be good to start marketing maybe 2 months before your MOP date. If you are looking at reasonable pricing for your unit, I dont think you will take that long to find a qualified buyer. 1 to 1.5 years is abit exaggerated but rare cases.
If you need funds from sale to finance purchase then careful planning of timeline and financial planning needs to be carried out.
Any particular reason you wish to move close to your mother's block?
YT TAN 陈永达 | ACCA Graduate, RES
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I have sold quite a lot of MOP houses and would usually recommend my clients to try to sell their units earlier because upon MOP, that is the time when the market is flooded with a lot of units trying to secure a buyer. With the large supply, it will be harder to secure a good price for your unit.
Please feel free to contact me so that I can understand your requirements better and advise you further on how to start the process early.
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Testimonial from Satisfied Clients
“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
Peter & Wendy (Property Seller)
I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
Weilun & Benita (Property Seller)
“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)
“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations. We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)
“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer) Read More
I will be glad to assist finding the right buyer
I won't be able to contact you first as I do not have your contact, appreciate if you can contact me at (65) 96608508 or Silviayang8@gmail.com with details of your unit
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
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Mobile: (65) 9660 8508
Email: Silviayang8@gmail.com Read More
As for how long it takes to find a buyer, I would say 1 year will be a very long wait and only applies to those unit that is really non marketable. (due to decaying lease, house in bad condition etc). Even in the worst market condition, 6 months is sufficient for you to find the right buyer. As your MOP is still some time away, it is too early to engage an agent now. You can only file an intent to sell once your house reached MOP although some do market their unit a few months before reaching MOP. Nevertheless the whole selling and buying process can only start once your house has reached it's MOP. Normally the trend is those who managed to sell their house just as it reached MOP will enjoy a higher selling price compared to others. Do contact me at 93375051 for a free and non obligatory discussions on this.
ERA Realty Network Pte Ltd Read More
I would be glad to assist you.
Feel free to contact me @ 97100155
Pei ERA Read More