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I own a private condo in the North. I am looking for a resales HDB EA. If I found a unit l like, when must i sell my private condo? Is it after collection of keys or start counting from the acceptance of the OTP?

What happens if i market it and I cannot sell it within 6 months? Will there be a penalty by HDB?
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11 Answers

Hi Sebastian,

You would need to sell away the condo within 6 months of key collection to hdb resale unit (ie. at hdb completion), hence there's quite a reasonable period to sell it. With the right pricing and marketing strategy, it should be able to secure a buyer. By the way, do you need the sale proceeds from the condo to fund the resale hdb purchase price?

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 Realtor
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Robbie Chen Chee Howe
Hi Sebestian,

If you do not require the sale proceeds from the sale of your condo for your HDB flat purchase, you could first purchase the HDB flat, and then sell off your condo within 6 months upon the completion of your HDB flat purchase.

If you fail to sell the condo away within 6 months, you will be required to submit an appeal to HDB for an "extension", by submitting to them proof of marketing (at the right price) the condo, and details of viewings as well as offers received.

I am experienced and well-versed in both private and HDB resale transactions. I will be able to assist you in your housing 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
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Dear sir/madam,

I have just met a client and run through the whole HDB purchase process, where they have an existing unit for sale. It is extremely important to watch the timeline involved in such process. I have done an analysis for them to determine the risks involved for them to commit to a purchase first with several factors included in the analysis such that they can understand better how to position their unit or strategise their move to the new place. 6 months period should be more than sufficient to sell a unit if seller and agent have positioned the property right, unless demand in that sector or home type is extremely low.

I am an advocate on feasibility studies before embarking on any move therefore if you are in doubt and require in depth discussion, I will be more than happy to run through the whole process with you.

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 clients’ 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.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

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YT Tan (陈永达)
Good afternoon Sebastian,

You will have to dispose off your private property within 6 months from resale HDB purchase completion date.

I will usually keep records of who view my clients unit so if there's a need to appeal for extension, I can provide evidences that we have done our means and effort to source for a buyer.

Hope my explanation helps!

By the way if you wish to go ahead with purchase then sale, you will have to have the financial capability to proceed with it.

Perhaps we can meet up over a cup of coffee to discuss what are your possible options and how can work around the timeline and finances.

When will be a good time to meet up? How about this week?

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Hi Sebastian, due to the weak market sentiment, it is advisable to sell off the existing property first before you make the next purchase. 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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Hi Sebastian,

For your case, you will have to determine first whether will you run into any cashflow issues by buying the EA unit first because you would not be able to utilise the cash and CPF that are tied up in your current condo unit.

If cash flow is not an issue, you will be given 6 months from the completion date of your purchase to sell the condo unit. If you are unable to dispose the condo unit within a 6 months period due to market conditions, HDB will be able to extend the period further with supporting documentation proof.

I have assisted many of my clients who are in a similar situation. Please feel free to contact me so that I can understand your situation further before drawing up a transition plan for you.

I can also share with you more about my track records and more importantly the marketing plan and strategies that have enabled me to deliver record-high prices for my clients consistently.

Regards,
Nick Tan Read More
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Hi Sir

1. Standard procedure - sell once you collected key of your HDB flat. 6 months period

2. If after 6 months period, still unsold, have to appeal subject to approval .

Thanks.

Raymond Lim
CCN Realty Pte Ltd
 91388805 
Email: raymondshaq@hotmail.com Read More
0
HI,

It will be 6 months after the completion of the purchase of the HDB flat where you need to sell off your condo.

The timeline will be a critical factor when doing the purchase and sale of your condo. We would not want you to sell the condo in a rush and jeopardize your chance to get the best possible price but we also won't want you to miss the 6 months dateline.

Assuming you have the financial mean to fund the purchase of the HDB without touching the sales proceed of your condo, then you can start hunting for the HDB you desire and at the same time, you can also test the market sentiment on how well received your condo will be.

Feel free to contact me to discuss further.

Thanks!

Alan Sng
PropNex Read More
1
Hi Sebastian

I will be glad to assist

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 http://bit.ly/2tzIQ1a to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

PropNex Realty Pte Ltd Read More
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Hi Sebastian,
I would like to assist you in the entire transaction. You can leave the headache of managing the timeline to me.
Lets meet for a discussion.
I am contactable via 91442664  . Look forward to hear from you.

Best Regards,
Tricia Tan
 91442664 
https://triciatanrealestate.com/ Read More
0
OHMYHOME PTE LTD
Greetings from Ohmyhome!.

We are able to assist you on this matter.

For more information, kindly contact us at 68869009  or WhatsApp us at 97551009  .

Richmond Chia
Senior Advisor
Ohmyhome Pte Ltd Read More
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