Early MOP sale

[fujicolours]

Hey guys, I saw that there are quite a few early MOP units for sale. Any idea what are the usual permissable reason for early sale other than divorce and bankrupt? Is primary school application for the child a valid excuse? Thanks

 

[vinz]

BTO (5yrs MOP), any reason before MOP date most likely HDB will take back the unit and won't allow the owners to sell as resale.

Resale flat (existing owner bought as resale), then some special case HDB will allow owner to resell before MOP. (whatever the reason, its pretty subjective and up to HDB discretion)

SERS flat (enbloc replacement flat) : Even though its brand new BTO unit, those SERS owner MOP begin way before they take keys to the unit, thus there may be some units already selling before the official 5yrs age of that block. and its perfectly legal and goes with the rule of HDB. (can happen on the 2nd , 3rd , 4th year of that block)

-vinz

 

[bolster]

If the price is worth than a divorce, why not?

Take the $ and have a grand wedding again?

 

[BBCWatcher]

Death or severe disability are other possible reasons HDB may waive the M.O.P.

There was a recent question in Parliament on this very topic and this ministerial answer.

If the price is worth than a divorce, why not?
Take the $ and have a grand wedding again?

That's some creative thinking! But not too creative, since it undoubtedly occurs to some extent. We know there are couples that get married mostly for HDB BTO qualification reasons. It wouldn't be surprising if many then divorce, de facto at least.

 

[fujicolours]

BTO (5yrs MOP), any reason before MOP date most likely HDB will take back the unit and won't allow the owners to sell as resale.

Resale flat (existing owner bought as resale), then some special case HDB will allow owner to resell before MOP. (whatever the reason, its pretty subjective and up to HDB discretion)

SERS flat (enbloc replacement flat) : Even though its brand new BTO unit, those SERS owner MOP begin way before they take keys to the unit, thus there may be some units already selling before the official 5yrs age of that block. and its perfectly legal and goes with the rule of HDB. (can happen on the 2nd , 3rd , 4th year of that block)

-vinz

Ok because the unit I'm looking at is 3 years old from start date of lease. The seller probably moved in earlier, so not sure how they calculate the mop period. Is it from key collection date or lease start date?

And the sellers bought it under BTO. They told me by right they will reach MOP at end of year. But they got permission from HDB to sell before MOP because they need to move elsewhere due to their child's primary school. Not sure if it's a legit reason.

 

[Amber2012]

More than half the time we need to discount what sellers tell buyers

 

[BBCWatcher]

....And the sellers bought it under BTO. They told me by right they will reach MOP at end of year. But they got permission from HDB to sell before MOP because they need to move elsewhere due to their child's primary school. Not sure if it's a legit reason.

It could be the actual reason if, for example, the child has highly specialized educational needs.(*) It's not really the buyer's concern, though, beyond confirming that HDB will allow the sale to proceed. The resale transaction won't get very far if there's still an unmet M.O.P. requirement.

(*) There are currently 19 government-funded special education schools in Singapore.

 

[halfnode]

Ok because the unit I'm looking at is 3 years old from start date of lease. The seller probably moved in earlier, so not sure how they calculate the mop period. Is it from key collection date or lease start date?

And the sellers bought it under BTO. They told me by right they will reach MOP at end of year. But they got permission from HDB to sell before MOP because they need to move elsewhere due to their child's primary school. Not sure if it's a legit reason.

hdb mop starts from date of key collection. while the ssd starts from the date of booking your flat.

 

[keithster]

MOP starts from lease start date, not key collection

hdb mop starts from date of key collection. while the ssd starts from the date of booking your flat.

 

[halfnode]

its from key collection which is also when the lease starts counting.

https://www.hdb.gov.sg/residential/selling-a-flat/eligibility

 

[slashGNR]

its from key collection which is also when the lease starts counting.

https://www.hdb.gov.sg/residential/selling-a-flat/eligibility

Mine was a bto, this was the reply from hdb after I login and found that my lease starts later...

" The lease commencement date of your flat is based on the precinct as a whole. Hence, you may have collected the keys for your flat at an earlier date, but the start of the lease commencement date for the precinct is at a later date. "

 

[halfnode]

I just sold my BTO and that's what i found out during the pre sales check with HDB that MOP counted from key collection. So i guess i was in the later batches which was also same period when they counted the lease.

From the FAQ:
"The MOP is calculated from the date you collect the keys to your flat. It excludes any period where you do not occupy the flat, such as when the whole flat is rented out or when there has been an infringement of the flat lease"

 

[sgpropertyblog]

Mine was a bto, this was the reply from hdb after I login and found that my lease starts later...

" The lease commencement date of your flat is based on the precinct as a whole. Hence, you may have collected the keys for your flat at an earlier date, but the start of the lease commencement date for the precinct is at a later date. "

yes correct, if u realised, most 'lease' starts one year later after TOP.. but the MOP is based on key collection, nothing to do with the lease.. cos come owners bought SBF instead of BTO, so their MOP is different

most of the time, HDB will grant waiver to sell before MOP, case to case basis depending on ur reason.. most common one is divorce,bankrupt,change in family size etc..

 

[keithster]

My mistake... lease start date is the same as key collection date

MOP starts from lease start date, not key collection

 

[keithster]

TS

I managed to get waiver approval for early MOP

My reason is not those common one.

U can think out of the box then ask MP for help.

But the approval process is very lengthy & tedious... u must hv patience & cannot give up halfway

 

[PrataKosong]

Hey guys, I saw that there are quite a few early MOP units for sale. Any idea what are the usual permissable reason for early sale other than divorce and bankrupt? Is primary school application for the child a valid excuse? Thanks

Had two neighbours in my old block, many years back, who managed to get approval to sell their BTO before the MOP was up.

One was commuting daily to and fro from one end of the island to the other just to drop the kids off at the parents place before going to work. Ended up moving to a place near the parents house.

The other's family size increased, so needed more space. They shifted to an EM if I am not mistaken.

Both saw the MP, and HDB allowed their request.

It's more common than you think. But you will need a very good reason to sell before MOP is up.

 

[PrataKosong]

BTO (5yrs MOP), any reason before MOP date most likely HDB will take back the unit and won't allow the owners to sell as resale.

Resale flat (existing owner bought as resale), then some special case HDB will allow owner to resell before MOP. (whatever the reason, its pretty subjective and up to HDB discretion)

SERS flat (enbloc replacement flat) : Even though its brand new BTO unit, those SERS owner MOP begin way before they take keys to the unit, thus there may be some units already selling before the official 5yrs age of that block. and its perfectly legal and goes with the rule of HDB. (can happen on the 2nd , 3rd , 4th year of that block)

-vinz

Most definitely NOT true about HDB taking the BTO back if you wish to sell before the 5 year MOP is up.

My old block had 2 families who sold their BTO on the open market before MOP was fulfilled. They had to see the MP but not sure how long the application took. If it helps, they sold at the 3rd year & 4th year mark of the MOP.

I still remember the estate's facebook page sharing the propertyguru adverts of both the units.

 

[vinz]

Most definitely NOT true about HDB taking the BTO back if you wish to sell before the 5 year MOP is up.

My old block had 2 families who sold their BTO on the open market before MOP was fulfilled. They had to see the MP but not sure how long the application took. If it helps, they sold at the 3rd year & 4th year mark of the MOP.

I still remember the estate's facebook page sharing the propertyguru adverts of both the units.

Dont make it sounds like its the norm and super easy to make it happen please !!

Many years back maybe HDB are lenient, now from what I know they are very strict on this. Those who appeal and really hope for a miracle can really spend 6mths to 1yr+ on this issue. (by then MOP maybe up already)

Rules are there for a reason and I dont see why HDB should bend the rule for all these 1001 excuses made by people.

Only maybe in genuine hardship case (death of bread winner etc) then maybe HDB should consider to allow it to happen.

Pls refer to yesterday Straits Times new : 1,700 flats surrendered to HDB over past 5 years, reasons include divorce

From the article :

<< Ms Sim said the 700 flats were surrendered to HDB mostly because of changes in their owners' circumstances within their minimum occupation period (MOP).

These changes had made them ineligible to own a HDB flat, but the owners were not allowed to sell their flats on the open market as they had not fulfilled their MOP.

The most common reasons for the surrender of these flats were divorce, break-ups between engaged couples, and the annulment of marriage, she said.

The remaining 1,000 or so of the surrendered flats were flats with short leases, comprising studio apartments, two-room flexi flats bought on a short lease, and flats whose owners had opted for the Lease Buyback Scheme. >>

 

[keithster]

Even if ur appeal to waive MOP is approved, they will most likely leave u with 1 year benefit only

 

[hacktic]

Even if ur appeal to waive MOP is approved, they will most likely leave u with 1 year benefit only

even if it's just 1 year, one still gets the first-mover advantage before everyone else starts selling when MOP is up.
can prop it up as a rare unit. other adjectives up to agent's imagination. Only one....