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I have a condo and hdb and planning to sell both and buy one condo. I have already sold my hdb but buyer has yet to exercise. If a condo buyer comes along and signs on the OTP, when is the safest time to go out and do my condo property hunt? I want to avoid a situation where I commit to buying a condo and there are hiccups to the sale of my 2 properties.
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8 Answers

Hi,

The safest time is for both buyers to exercise their respective OTPs for your condo and hdb. Would you need your proceeds to fund the purchase? I suppose your current HDB agent will be able to advise based on your specific requirements?

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
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Hi, if you want to be very safe and does not want any hiccup, then the best time will be to wait for the final completion for both the HDB and the condo unit. Pls feel free to let me know if you need any assistance.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Evening,

Ideally, when your buyers have exercised the OTP, you can be sure that you can obtain 80% loan for your upcoming purchase and that ABSD will not be payable.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Dear sir/madam,

Ideally, I would highly recommend you to take it 1 step at a time, considering that you maybe staying in either of the property you have now.

As what Aaron has mentioned, the safest option will be when both your condo and HDB has already legally completed since even if the respective buyers for your unit have exercised their Option To Purchase, there is still slim chances of complications along the way as we have heard of cases being unable to complete and drag on for period of time before being resolved.

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

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Regards,

Geryl LIM
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YT Tan (陈永达)
Good morning seller,

Let me ease your worries. If you want to make sure there's no hiccups in the property sale, this could be the safest plan.

1) Let's make sure your HDB get sold off first. Since you have already secured a buyer for your HDB, wait for him to exercise so you can proceed with booking of first appointment. Once you receive the HDB approval after the first appointment, it's a done deal.

2) Let's do househunting after buyer exercises the OTP for condo sale (3 months to look for an ideal unit). I will advise you to rent the unit back from buyer for about 4 months after sale completion (at least you got a place to stay while waiting for completion for purchase and dont have to shift twice. Since both units are sold, you can commit on purchase with no worries.

Hope this proposal will be of great assistance to you!

My team and I are familiar with restructuring property portfolio for clients with similar situation as you.

Perhaps we can meet up over a cup of coffee so we can discuss and explore what are the available options to you and from there, you will have an idea which proposal is more suitable for you.

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Dear Sir/Mdm,

An ideal time to start hunting for your next property will be after you have secured a buyer for your condo AND when the buyer has exercised the option so that you will not be liable for Additional Buyer Stamp Duty.

While marketing your condo, it is recommended that the incoming buyer may grant you an extension of stay or rent the unit back to you for at least 1-2 months so that you can have a smooth transition between the current place to your new place.

I have assisted my clients who are in a similar situation as you. Please feel free to contact me so that I can better understand your situation and provide you with further assistance!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

Testimonial from Satisfied Clients (2015/2016)
“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.”
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“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.”
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Hi

It will be safe to wait till both the properties have completed the process. However, this may not be the approach to take if your needs to buy the next property is immediate.

Within the timeframe, there are certain decision points where you can make to meet your needs.

You may want to write to gavin.ng@orangetee.com.

Regards Read More
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GAN ENG JOO ONASSIS
Dear Sir/ Madam,

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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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