To avoid being homeless and ensure a smooth transition into your new BTO flat, consider this timeline for selling your current HDB flat:
1. **Before June 2013 (PCD):**
* **Engage a property agent (optional):** If you're not familiar with the selling process, engaging an agent can help with marketing, viewings, and paperwork. Discuss their commission fees and estimated selling time.
* **Start marketing your flat:** List your flat online, spread the word among friends and family, and hold viewings.
* **Secure a buyer:** Ideally, aim to find a buyer before your PCD. This allows time for the resale application and other formalities.
2. **After June 2013 (PCD):**
* **Submit resale application:** Once you have a buyer and the Option to Purchase (OTP) is exercised, submit the resale application to HDB. The processing time usually takes about 8 weeks.
* **Completion appointment:** Attend the completion appointment at HDB, sign the necessary documents, and hand over the keys to the buyer.
* **Move-out date:** Negotiate a move-out date with the buyer that allows you ample time to renovate your new BTO flat and move in. Typically, buyers grant 1 to 3 months extension for this purpose.
3. **Renovation and Moving In:**
* **Renovate your BTO flat:** If you plan to renovate, factor in the time required for renovations, which can take several weeks or even months.
* **Move into your BTO flat:** Once the renovations are complete, you can move into your new home.
**Key Considerations:**
* **Timeline:** Aim to sell your flat at least 2-3 months before your PCD to allow sufficient time for the resale process and a smooth handover.
* **Flexibility:** Be prepared to negotiate with the buyer on the move-out date to ensure you have enough time for renovations and moving.
* **Alternative Accommodation:** If you are unable to sell your flat in time, consider temporary housing options like renting a place or staying with family/friends.
By planning and starting the selling process early, you can minimize the risk of being homeless and ensure a smooth transition into your new BTO flat.
**Additional Tips:**
* **Check your eligibility to sell:** Ensure you meet the Minimum Occupation Period (MOP) and any other eligibility requirements before listing your flat.
* **Research market prices:** Look at recent transactions of similar flats in your area to get an idea of the current market value and price your flat competitively.
* **Prepare your flat for sale:** Declutter, clean, and stage your flat to make it more appealing to potential buyers.
* **Be realistic:** Set a realistic asking price and be prepared to negotiate with buyers.
I hope this helps! Let me know if you have any other questions.
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
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