A recent media report has shown that, at October’s end, 645 sellers of HDB units have applied for a temporary extension which will allow them to remain in their old apartments.
This rule was alleviated by HDB on the 22nd of July as a way to assist those sellers who were in need of extra time to get their newly purchased Kingsford Waterbay renovated as well as to help those who were awaiting the sale of their old units and the funds they would need to move into the new flats. The authorities cooling actions that include the total debt to service ratio TDSR has reduce the potential for young families who are putting together their own new homes to loan the exact amount needed for their residential loans on Kingsford Waterbay Serangoon.
Kingsford Waterbay Units in Upper Serangoon
This new change in regulation for Kingsford Waterbay at Upper Serangoon can allow up to 3 months for a temporary extension of stay and must be agreed upon by both the buyer and the seller of the flat. It is also required that the extension request be submitted alongside the resale application to HDB. During this time the seller of Kingsford Waterbay must be able to prove that they have committed themselves to buying a completed home, which can be either an HDB or a private unit.
Arrangements of Units of Kingsford Waterbay
Any private arrangement must also be agreed upon by both the seller and the buyer, as is needed for a duration for the extension and any financial compensation.
Before this change was made, an HDB seller was required to vacate their flat upon the completion of sale, with other arrangements being made outside of regulations. Quite a few clients who are on the affluent side are actually on the lookout around for high-class properties in distress or are in fact marketed with volume discounts by the real estate developers for Kingsford Waterbay. Developers currently are more prepared to take discounts since they now have to pay for the development fees if units remain unsold after TOP. HDB believes that this new option will benefit close to 15% of resale transaction overall, affecting an estimated 2,700 households per year.