Question: What Happens When You Sell Your HDB Flat?

Should I sell my HDB flat now?

The short answer is, No.

If your main reason to sell is to either pay off your mortgage and loans or worse, you intend to capitalise on rising home prices and sell to get cash rich quick, you should postpone plans to sell and very carefully scrutinize your intentions.

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How long can I sell my HDB flat?

five yearsThe Minimum Occupancy Period or MOP means flat owners can’t sell or rent out their property for five years.

Can I sell my HDB flat before 5 years?

Minimum Occupation Period (MOP) is only one of the set of eligibility conditions you must fulfil before you can sell your flat. … Typically, homeowners must occupy the flat for at least 5 years before applying for the Request for Confirmation of Eligibility to Sell Your HDB Flat and putting it up on the market.

Can I sell back my flat to HDB?

Yes you can appeal to hdb requesting them to take back your flat , however chances are slim for your appeal to be successful. Even if your appeal is successful, you will probably get a better price for yourself if your hdb is sold to the open, resale market instead .

Can I sell my 2 room flat?

The short-lease 2-room Flexi flats cannot be resold in the open market or rented out. Applicants who do not need the flat, can return the flat to HDB and HDB will refund the value of the remaining lease of the flat.

Can resale levy be paid by CPF?

Unfortunately, you cannot use your CPF to pay for Resale Levy. You can only pay it with cash. In the case where you buy your second-subsidised flat before you sell your first-subsidised flat, you can only use the cash proceeds from the sale of your first-subsidised flat to pay the Resale Levy.

Will HDB resale price drop further?

This chart from OrangeTee & Tie shows that the resale prices for HDB flats is projected to decline 1-3% in 2020. At the same time, the number of resale transactions could dip to 21,000 to 22,000, from 23,714 in 2019.

What happens when I sell my HDB flat?

# 1 Pay Down Outstanding Home Loan Your mortgage (HDB loan or bank loan) will be the first thing that gets paid down. This sum is deducted from your sales proceeds. Your sales proceeds of $475,000 will be used to repay your remaining $199,000 HDB loan, leaving you with $276,000 in remaining proceeds.

Will HDB price drop further?

HDB Resale Price Index DOUBLED from 2007 to 2013, dropped slightly to 2015 then stabilized. However, due to high supply of flats completed in 2014-2017 that enter on resale market since 2019, prices are likely to drop more in the coming years.

Can I own 2 HDB flats?

Yes, you can. For resale flats, HDB has a Conversion Scheme whereby eligible buyers/owners can apply to join up two existing flats on either of these two conditions: 1. You currently own a three-room HDB flat (or smaller) and want to buy an adjoining three-room or smaller resale flat.

Can HDB owner buy a private property?

Yes you can buy a private property if you own a HDB. It may be a good investment for those who are thinking to go into property investment. You don’t have to sell your HDB and buy 2 condominiums in order to rent it out.

Can I sell my flat before mop?

The Minimum Occupation Period (MOP) is the period of time that you’re physically required to be living in your flat before you can sell it. This means you can’t buy a BTO and immediately flip it onto the resale market within a day of getting the keys.