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Hi,

1) HDB policy stated you have to dispose of your private property within 6 months upon key collection of HDB flat bought. So you may start even without receiving an offer from a buyer.
2) You and the buyer will have to sign an S&P (Sales and Purchase agreement) after the buyer exercise the option.
3) Buyer will need to pay Stamp Duty within 14 days of the date of S&P signed.
4) Your lawyer will file a Notice of Transfer to IRAS within 1 month of the sale or property transfer, i.e. S&P signed.
5) Once IRAS processed the "Notice". The record of ownership will be updated accordingly.
6) (2) ~ (6) is the whole process of ownership transfer. However, IRAS did not commit any timeline for this. But this will be done within 2 months for sure.
7) Once S&P signed, you are safe to proceed to offer for an OTP from an HDB seller.
8) You may already start your next home search once receive 1% from the buyer. Since they have to exercise the OTP within 14 days, followed by S&P which usually ready within 1 week or so.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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you can go ahead to buy resale HDB. i went through the same after i sold my 1 bedroom unit and go for resale flat in the market.

regards
wilson leong
 96305577  Read More

Hi
You may even purchase a HDB resale before even optioning your private property as HDB only require you to dispose off your private property within 6 months from your HDB purchase. You won't be incurring any ABSD regardless of which point you make a decision to purchased the HDB resale. However what is the most concern to most buyers is that they are planning to use funds from their sales proceed to purchase the HDB resale. As a guide, the minimum time period to enable you to use the funds from sales proceed is you should time your buying completion 3 weeks after your selling completion. A proper planning of timeline needs to be done. You may secure a HDB resale today but you must ensure the exercise period plus resale submission days agreement plus another average 8 to 11 weeks of HDB processing is enough so that the HDB completion can be scheduled at least 3 weeks after your selling completion. Planning for timeline might be a tedious process but can be done. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More

Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, you could go ahead to purchase HDB flat now.

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

Hi,

You do not need to wait to OTP your private property before committing to a HDB purchase. If you have the funds ready, you can even purchase the HDB flat before you sell off your private property.

Should you require the funds from the private property to pay for the HDB flat, then you will need to plan the Timeline accordingly, so as to allow you a smooth transition to your new home. I am sure you would also want to avoid having to shift house more than once, right?

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

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.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More