Hi April,
There are variou scenarios here for your planning in terms of timeline:
1) If you require your sales proceeds to finance the purchase of the property, this will be extremely time sensitive, given that you will still require to renovate your EC before moving in, thus you may face difficulty to timing to perfection. An interim housing could be required for example staying with parents and keeping furnitures in storage while you wait out for renovations to complete, even if you are able to get the maximum 3 months extension for the sale of your current place.
2) If you are unable to find interim housing, then you may consider to sell the HDB now and rent for 1 year period while you wait out for the EC to TOP and for renovation to take place. Since rental is expected to slump as per what has been reported in the media, this could allow you to better prepare the transition not rush for your moving in.
Issuance of key upon TOP will take place in phases, thus it is not advisable to plan based on the TOP quarter estimated, since you could be allocated the last month of the quarter to collect your key.
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
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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If its an older resale HDB more than 15 years old, would advise to market a bit earlier as it takes time to find a buyer and also we can try for a slightly higher price at the start and adjust lower if the response is slow. If its relatively newer flat below 10 years the demand for such flats is higher and we may still have a bit of time (I transacted recently two just MOP 5 year old 4-room units at Anchorvale Fields for above 600k and response is strong). Its good to start now actually as you also need time to tidy up and declutter the place and get the family to help also. May I know which block or cluster is your unit? Thanks! Ivan 97432395
Given the current market trend of Sengkang Anchorvale 5-rm HDB, is it advisable to market early and sell early with extension, or sell a bit closer to key collection? Thanks!
It usually takes approx 3.5 months from 1st deposit received from buyer OTP issued phase to legal completion date (where you handover the HDB keys and receive the proceeds). So assuming you get your keys in April, plus defect checks and reno time of approx 2 months, our required HDB handover date will be in June. If we manage to find a buyer for HDB in January, plus 3.5 months hdb processing time, we will arrive in mid-April, and should require an extension of stay after completion from buyer so to handover HDB in June (this will be discussed with buyer prior to issuing OTP). Or if the buyer is secured later, we can also time the completion to be closer to June. Regardless it is best to commence now since we will have more time to find a buyer.
I have just transacted a 5-room older resale HDB in Tampines St 32 and still have buyers looking in the Tampines area. May I know the location of your HDB?
Hope the above clarifies. 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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