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If I own an HDB that is reaching MOP in 2 weeks and I wish to purchase a private condo, can I get the OTP issued to me now (I don't need to sign the OTP issue just yet) and only exercise it after MOP is reached?

I want to secure the unit as soon as possible and the MOP doesn't allow me to do so.

From the HDB website:
"How is the MOP computed?
The MOP starts from the date you take possession of your flat (including subsequent changes to flat ownership through a total change in owners) to the following dates, whichever is earlier:

Date on which the Option to Purchase (OTP) the private property is exercised
Date of the Sale and Purchase Agreement of the private property, regardless of whether it is still under construction or ready for possession"

https://www.hdb.gov.sg/residential/living-in-an-hdb-flat/acquiring-private-property
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4 Answers

YT Tan (陈永达)
Good morning,

You might want to seek legal advice from your law firm on this. If you wish to sell HDB or buy private, you will have to appoint a law firm to act on your behalf.

Do you have a long option period to exercise the private? If not you will have to fork out hefty ABSD as HDB is not sold yet.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
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Dear Sir/Mdm,

You should only get the OTP after the MOP is met so as to best protect your interests as a buyer. I would recommend planning the timeline of the sale of the HDB flat and the purchase of the condo carefully so that you are able to minimise your cash outlay and also avoid the need for an interim housing solution.

I have assisted many of my clients who are in the same situation as yourself, upgrading from a BTO to a condo unit. Feel free to contact me so that I can give you an overview of the process and highlight to you the important issues that you may need to take note of.

Regards,
Nick Tan
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Robbie Chen Chee Howe
Hi,

MOP is calculated from the day you take possession of your HDB flat. You can only commit to another residential property purchase after you had met the MOP.

If you have a long dated option, it may work in your favour. Are you looking to sell your HDB flat at the same time? Or are you prepare to pay ABSD for your second property purchase?

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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  • SK
    Thanks Robbie.
    I do have a long dated options expiry date. It should be adequate (hopefully) to help buy the unit and sell the HDB flat at the same time.
Robbie Chen Chee Howe
Hi Sanjay,

Noted on this. My advice is to start the marketing of your HDB asap, as you will need the Buyer to exercise the OTP before you can OTP for your condo purchase, to avoid the hefty ABSD.

Do drop me a WhatsApp message @ 97486305  should you require further clarification.

Thanks! Read More
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