22 Jul '14, 10am

HDB relaxes rule to help flat sellers - Property Auctions News, Property Investment | PropertyGuru

In a statement, PropNex’s CEO Mohamed Ismail Gafoor said he does not expect any major impact on HDB resale prices. He added the move is long overdue and it will facilitate a smoother transition in the sale/purchase of HDB flats: “Prior to this policy tweak, a problem existed whereby many buyers/sellers and property salespersons took the risk of mutually agreeing to such an arrangement that was not legally recognised.” In addition, it was also almost impossible for many buyers/sellers who were doing contra cases (buying and selling a home simultaneously) to move out of their current home to their new home on the same day. “This tweak will give greater peace and convenience for all future HDB transactions, and may encourage some home buyers/sellers to consider their upgrading plans,” he added.

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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