u were just misguided for the information. u can sell the property anytime u wantprovided u have a buyer to meet ur asking price.

the criterials of selling new house-

1. most bank, such as public bank had a LOCKED-IN PERIOD for 5 years.
2. if u sell the property within 5 years time, you were be charged 3% penalty for the remaining loan. example, u purchased the house at 300k, downpayment 100k, took 200k loan. after 3 years of servicing loan, your balance loan is 170k, thus the bank will charge you 3 % on 170k.

3. the 3% penallty on the other hand can be waived, IF YOU CAN PERSUADE THE NEW BUYER TO GET A NEW LOAN FOR THAT PARTICULAR HOUSE FROM THE SAME BANK, SAME BRANCE, AND PREFERABLE FROM THE SAME LOAN OFFICER.

Thanks