This is a really encouraging news that HDB flat owners are given a more reasonable time to move out of their unit after completion. As all HDB owners are able to own only one HDB unit, it doesn’t make good sense that the owner shall move out immediately after selling their units.
Especially for contra transaction, where the owner sells on the same day and buy on the same day. Not able to get the keys to his/her new units, how can the family move out and move in within minutes? Lets assume they don’t have other places to stay. Why make the family go through the pain of going homeless for a couple of weeks.
Glad that HDB finally understand that issue and took proactive action to address this.
Now owners have more time to move out of their current unit and are more willing to move on if they have the plan to do so.
Rule tweak gives HDB flat sellers more time to move
Under a Housing Board rule at the time, flat sellers had to move out once the sale was completed. Any arrangement to stay on had to be made under the table. The rule was relaxed in July last year to officially allow sellers to negotiate with their buyers for a temporary extension of stay of up to three months. Rule tweak gives HDB flat sellers more time to move | Singapore Property News
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