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I own a property overseas. My current 4 room flat was bought direct from HDB. It is fully paid. I wish to downgrade to a 3 room, on resale basis. What do I need to do? And what are time constraints?
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8 Answers

Good morning,

Has your current 4-room flat met the MOP of 5 years? You will need to sell off both your 4-room and overseas properties within 6 months after the resale completion of the 3-room unit. Alternatively you can transfer the ownership of the overseas property to another family member, and sell off the 4-room.

I have assisted various homeowners to transit smoothly to their next property and would be happy to share the best approach.

May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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-- HDB Choa Chu Kang BTO 4-RM Sellers, 5-RM Purchasers, Zima & Faizal --

Ivan was prompt in replying to my endless queries & concerns. He was very attentive to details and he knows my exact 'taste' during the process of house hunting. I would say that my requirement in getting a flat is quite high because i was looking for a flat located near my parent's as well as the MRT station. It impressed me that he could read my mind well which makes the whole transaction alot easier. I also love the fact that he is calm, not pushy & always ensuring me that there are still sufficient time to look out for other available houses. We are so thankful beyond words for his understanding and patience thoroughout the whole process. We managed to sell our BTO with extension & secure a 5 room flat without COV.

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You will also need to dispose your ownership in the property overseas within 6 months from taking possession of your intended purchase flat. The rest are as per typical transaction where timeline can varies based on the stipulated timeframe allowed by HDB as well as the marketing and sourcing period for your purchase.

I have been in the real estate business since 2009, with more than 13 years 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 client's 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!

Warmest regards,
Geryl Lim
Associate Group Director
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Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
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1
Hi Sir/Mdm,

Yes you are able to do so. However, when you purchase the resale 3 room HDB, HDB will want you to dispose off your overseas property within a 6 months period as part of the standard HDB ruling.

I have assisted my clients who are in the same situation before. Please feel free to contact me so that I can understand your situation and provide you with some possible solutions and advice.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020 / 2022

Visit my website to get to know me better:
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Testimonial from Satisfied Clients
“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
Peter & Wendy (Property Seller)

I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
Weilun & Benita (Property Seller)

“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.”
Mr & Mrs Wong (Property Seller)

“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.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer) Read More
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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, sure no issue with the downgrade but pls note that the HDB would required that you dispose off the overseas property and do you have an interim housing to move first while waiting for your next flat to be ready?

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Hi Sir/Madam

Selling:
1. Have you fulfill 5 years minimum occupation period (MOP)?

2. Steps in selling
- Appoint agent to market your unit, I will be glad to assist on this
- After that I will proceed to market your unit in online portals and propose to buyer on hand.

3. Pricing Strategy
Selling price will be depend on level, facing, condition of unit, etc
Appreciate if you can contact me at (65) 96608508  with details of your unit so I can advise accordingly

4. I will be glad to assist finding the right buyer

Timeline:
- Do you need the cash proceeds from your current house for the new house? If yes the completion date for your current HDB need to be earlier
- You will also need to dispose your ownership in the property overseas within 6 months from taking possession of your intended purchase flat

Buying:
Do you intend to take loan for your purchase?
If yes, Before shortlisting project/unit, I will suggest to check your in principal approval of your loan from bank/hdb

I will be glad to assist, I am well versed in HDB and has done many transactions
I hope the above clarifies, please feel free to contact me at (65) 96608508  so I can explain further
Appreciate if you can contact me at (65) 96608508  with details of your unit
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More
0
Hi there,

Has your flat met the 5 year MOP? If it has, you can sell it off. Furthermore, you will be required to dispose off your overseas property within 6 months of your next purchase completion.

I would be glad to assist. I have handled the sales of many units across all districts in Singapore- having also transacted an EM unit in Bishan at a record price which was published in the National Newspaper (article on website). I also have an award of being ranked as Top3 agent in Tampines in Singapore.

If you would like assistance in this matter, please do contact me for a discussion for me to advise you further and share in depth price analysis details on your block and surrounding vicinity (capital % gains). After which, I will churn out a comprehensive, exact and thorough financial calculations with exact figures. Furthermore, I would be able to share more on the varied marketing strategies and mediums through which your property might get maximum exposure as well as study the recent up to date transaction caveats of similar sized units in vicinity and hence, present a sales and elevation report to advise further.

Do visit my website for my recent accolades, awards and testimonials @ http://www.kumarrai.myweb.sg

D Kumar
 +65 96659926 
ERA Associate Division Director

#1 team of ERA in Singapore, Asia Pacific International for 2014/5/6/7/8/9/2020/2021

ERA Top Achievers 2013-2021
ERA Multi-Million Dollar Club Award ‘2020-2021
2014-2020 ERA Asia-Pacific Business Read More
0
Hi,

1) You have to know that you are not allowed to keep your overseas property after you bought an HDB flat.
2) You will have to sell it off within 6 months upon key collection of the new purchase.
3) Now you have to know whether you need the sale proceeds from your 4-rm flat, if you do then you will have to apply for intent to sell and intent to buy at the same time.
4) So that you do both things at the same time market your 4-rm flat on the market and look for your new home.
5) The best thing to do is to get a buyer to offer for your flat and a unit that you favor.
6) You may apply for an enhanced contra facility (ECF) so that your returned CPF can be used directly for your purchase and no need to wait for another 14~21 days for the refund.
7) However in order to employ ECF, you must have the 2 exercised OTP on hand for the submission.
8) There will be a lot of negotiation and compromise in order to get both deals to be materialized.

Please give me a thumbs-up if I've answered your main concern. Thanks!!!

Hope the above answer 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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Robbie Chen Chee Howe
Hi,

You will be able to sell your 4RM HDB once you have fulfilled the MOP.

Should you decide to purchase a 3RM resale flat, you will be required to dispose off your overseas property (and your current 4RM HDB flat), latest within 6 months of the 3RM flat purchase.

Do contact me via WhatsApp for a detailed explanation on the procedures and the options you can consider.

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
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