My comments:Originally posted by KennethOng
Dear all, I was wondering
1) If I buy another HDB flat first before selling my existing HDB flat, specifically how long can I hold on to 2 HDB flats during the buy/sell transition period?
2) And what's the policy like if I am still unable to sell off one of the units when the holding period expired?
3) Does that mean I will be forced to execute a fire-sale (may possibly below valuation px) just to meet the policy?
4) Can I instead transfer one of them to someone (eg close relative) else?
1. You have maximum time period of 6 months from the day you collect your keys to the other property you're buying to sell your existing HDB flat.
2. if you're unable to sell your existing HDB flat upon expiry of above-mentioned 6-month period, you can appeal to HDB Branch office for extension of 1 to 3 months.
3. No. As mentioned, you can request for extension of deadline.
4. whether you can transfer to your relative depends on whether your relative CAN qualify to own a HDB flat and whether your relative can get a Loan (whether HDB Loan or Bank Loan) to finance the purchase of your existing flat. You might want to check with HDB on your relatives' eligibility by providing HDB your relative's NRIC so that they can assess his/her status.
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