Recently, HDB announced that it will finally relax the ruling that once a HDB is sold the last owner is allowed to stay up to 3 months for the day of completion. The MOP of the new owner shall start from the day of moving in instead. However, there isn’t a standard format for the agreement to be signed which will be submitted together with OTP.
Nevertheless, this is something that HDB upgrader can celebrate about and real estate salesperson no longer have to worry about the transition period between the new and old unit.
But this isn’t the end of the worry, if Seller A wants to sell his HDB unit and wants a 3 months grace; Buyer B who brought Seller A unit gives 3 months grace to his buyer that would still leaves Buyer B with little time to move from his old to his new unit.
The easiest way if that Buyers to look for Sellers that are readily to move out ASAP, which can be found in the market who had moved into BTO and looking to dispose their unit. But if Buyer likes the unit and want a solution to this, it would be better to seek advice from a qualified real estate salesperson to work out a plan that can fit into your needs. There are risk of the changes of HDB ruling which needs to be managed as well.
This has no doubt resolve the issue of transition period of the selling & buying, but it doesn’t necessary meant that the resale market will improve as this is just a sweetener only.