Suppose what you are looking at is all-win situation for you, that you want to secure a buyer first for your existing place before looking out for another place to purchase. What I usually advise is to do both concurrently, such that the moment you have an acceptable offer for your place, you can also make immediate decision to purchase to reduce the delay in completion over on your sales portion, as buyers usually will also be looking out to complete as fast as they can since they, too, have renovations to factor in.
I have a case where buyers are even willing to match the seller's asking price just so that they can take over the premises as per normal completion instead of buying at a negotiated lower price with extension.
The delay in submission of resale application can be done since each valuation report lasts for 3 months. For the extension period, it is again up to the buyer and seller to come to an agreement on any pricing to be factored in.
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