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Hi;

For your case, since you are purchasing a private condo, hence there is no restrictions on when you can buy .But, my word of advise is to do so only after your buyer has exercised the Option To Purchase on your current HDB flat ,as just in case they don't exercise, you will be stuck with your new purchase, go ahead also canot, back out will cost you 1.25% .. So timeline management is very crucial in your case. Hope this helps. Feel free to contact me if you need further advise .. Thanks

Regards;
Lyna Song
 9623 8442 
Associate Group Director
Propnex Realty Pte Ltd
lynasong@hotmail.com
https://r025113i.propnex.net Read More

I do understand that there can be conditions attached to the approval for sale of your HDB prior to meeting the MOP, and the restriction can involve restriction in purchasing private properties and others, applicable on case by case basis.

I reckon that you take a look into the approval document for your sale before you make your next move and in my opinion, if there is no rush in exercising the Option To Purchase for the new launch condo you are interested in, I definitely feel that you should wait for the completion date before you make your move.

The timeline you have mentioned that your agent has opined is likely more applicable for avoiding the ABSD as it is usually based on the date of exercising the OTP.

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
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Hi,

It seems there is something not clarify in the whole process.

1) I suspect you are a family of PR, you are not allowed to own another property while still owning an HDB flat.
This could be the reason why HDB official claims it is in violation of HBD act.

2) There is no issue if you have a Singapore Citizen in your family nucleus, other than you might incur ABSD in the whole process.
Although you may apply for remission, you must have sufficient cash or CPF or both in order to pay the 12% ABSD + 3~4% BSD, which is roughly $150k~$160k for a ~$1M property.

3) Back to the question of why there is a violation. This is a new launch that you are talking about.
The new launch exercise is 5 weeks upon OTP issued. Your completion is 8 weeks down the road.
Once exercise new launch property, you own 2 property at the same time and one of them is an HDB flat.
Thus HDB official told you is a violation of the HDB act.

4) Suggest you plan your timeline carefully so that you won't encounter the situation mentioned above; own 2 properties at one time.

5) You may also consult your conveyance lawyer for further advice over this. You are paying for their service anyway, they will assist in your purchase accordingly.

Hope the above answer to 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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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.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi,

For cases where the owners has been granted special approval to sell HDB before their MOP, there will be certain terms and conditions attached. And it is usually related to your reasons put up for the appeal.

For example, if your appeal to sell the flat is to move to a bigger property for more space for your family now, HDB may bar you from purchasing a new launch property, as that would mean you will need to wait a few years to move into the property. HDB may deem this move as a violation, as they would expect you to purchase a bigger resale unit since they granted you the waiver based on your appeal reasons. I have heard cases whereby HDB even disallows the Seller to "upgrade" to a private property after the sale, and only allow Seller to purchase another HDB resale flat thereafter.

I suggest you clarify with HDB the terms for your case, as approval for sale before MOP is on a case-by-case basis.

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

Hi Sir/Mdm

I will be glad to assist
Appreciate if you can contact me at (65) 96608508  or Silviayang8@gmail.com
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