In the competitive Singapore property market covering the mass housing market and commercial property, property consultants and real estate brokers, and specialists in property laws are doing a yeoman service in helping the buyers and sellers to clinch the best deals.

According to the CEO of Mop Upgraders Singapore, a decisive segment of property buyers are upgraders who want high-value properties after the mop period in HDB-controlled flats and executive condominiums gets over.

The CEO cited its expanding clientele base of home buyers and sellers who want to get the best price, cut delays, and hassle-free paperwork and interface with the authorities.

Like all HDB-managed properties in Singapore, it is common practice to sell an Executive Condo (EC) on the open market after the stipulated minimum occupancy life (MOP) of 5 years to recover the investment or reinvest to acquire a more lucrative real estate.

However, during the mandatory MOP, sales or rentals are prohibited. The freedom to sell your EC comes only after the MOP or after the privatization that takes place 10 years after TOP.

Get exemptions to sell EC before Mop

At the same time, to sell EC before mop you can explore certain grounds for exception to the general rule. To obtain such exceptions you should convince HBD and get the consent for the same, noted the CEO.

“If a homeowner needs help in getting the HDB permission, MOP upgrade experts as our company can help”, the CEO noted. The final decision belongs to HDB. “Our MOP specialists follow the instructions to navigate the proposal for a fair outcome”, he added.

There are some options to sell EC before the MOP under compelling circumstances. But exceptional conditions, such as death, bankruptcy, or divorce can change that general rule.

Under certain conditions, HDB grants exceptions to allow the sale of ECs on a merit basis. Suppose the landlord is in financial difficulty and wants to sell an HDB unit before the MOP, the HDB may consider an exemption. Other valid grounds are medical issues, relocation, or family disputes.

Approval is subject to the verification of the claims which need solid substantiation and HD will levy resale charges and other fees. HDB treats each case as unique. But exemptions are not guaranteed and homeowners have to show a genuine reason.

Make EC sales easy

After mop, you can sell the EC freely on the open market to Singaporeans and permanent residents. However, you have to follow sales norms like Ethnic Integration Policy (EIP) and the Singapore Permanent Resident (SPR) quota.

To hasten the sales offer of your EC use the listing service of the HDB resale portal. ECs appeared first in 1999, and the consensus was that owners should not sell the unit until the development is privatized in the 10th year.

The CEO said his consultancy will tender the advice to get the best price for EC during sale leveraging the value of the location and also considering the density of BTO apartment owners under MOP tenure who want to upgrade into a private home nearby.

The MOP upgrade experts are available round the clock with help to sell EC before mop and in updating the nuances of listing in the HDB resale portal.