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I'm waiting to collect my BTO key mid year 2016. During this period, i did like to purchase a Private Condo and willing to give up my BTO. Can I confirm my condo before cancel the BTO? Or i MUST risk cancelling the BTO first, then start looking for Condo?
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4 Answers

Ivan Ng
Replied
Hi,

You cannot exercise the Option to Purchase for your private condo, if you still have the BTO ownership to your name. Hence you need to be sure which condo you will be taking up before doing everything in tandem. It will be ideal to work with an agent. Please also note all your deposit for BTO will be forfeited. May I know which condo are you considering and preferred sizing? Thanks and hope to assist further.

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  • BE
    Replied
    Thanks Ivan. I am looking for resale private condo that is at least 150sqm with balcony. near MRT. I suppose since it is a resale, there is no Option to Purchase. Does it means once i found a unit, i can first confirm a deal with the current owner by signing and putting deposit first to ensure i got the house, then proceed to give up my BTO?
Mike Lim
Replied
Afternoon,

With the current ruling, private property buyers who have an HDB application or exisiting unit that have not fulfilled MOP are not eligible to purchase it. Hence you would have to cancel your application before you can proceed for the purchase.

FYI
Mike Lim
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Geryl Lim
Replied
Dear sir/madam,

It would be important to know the duration required to withdraw from your BTO in order to plan ahead. You can work on having your prospective seller wait for your confirmation to cancel the BTO by requesting for a longer Option period before you exercise the OTP if seller is agreeable.

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D. Kumar
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Hi,

Let's speak more in details to advise further.
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