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Selling Guide - HDB Resale Flats
Singapore

This selling guide gives you a rough idea of the selling and buying procedure involved in HDB resale flats in Singapore. It is by no means very thorough, representative and exhaustive.    www.homebiznez.com or its representatives give no warranty, guarantee or other representation about the approaches, accuracy of the information and accept no liability for any loss or damage which may arise from reliance on it.

1st Step - check to ensure that seller is in the legal position to sell the HDB flat. (min occupation period - check branch office)

2nd Step - submit to HDB for a valuation of your HDB flat. (Cost = $176/- 3 rooms or larger, $124/- 1&2 rooms)

3rd Step - check the ethnic eligibility for your HDB flat.

4th Step - make a comparative study of your property about the strengths & benefits such as amenities, renovations, walking distance to MRT, school, etc, and then plan how to effectively market your property before informing the world that you are selling the HDB flat.

5th Step - answer and screen calls for ethnic eligibility and the callers' budget or  those who can afford to pay the price.

6th Step - after careful screening, arrange appointments for potential buyer to view the HDB flat.

7th Step - before viewing by potential buyers, it is suggested that you prepare your property such as keep it neat and tidy, open windows for air circulation, or switch-on air conditioner and lighting before buyers arrived, select best time for viewing, and so on without appearing to be doing any hard selling.

8th Step - negotiate your price to an amicable conclusion.

9th Step - seller to collect an option fee from the buyer, an amount not exceeding S$1,000 set by HDB.

10th Step - buyer to exercise OTP and pay the exercise fee before the option period (14 days). Deposit from the buyer should not exceed S$5,000 (option fee + Option Exercise fee)

11th Step - buyer to fill in the Resale Application form with supporting documents such as photocopies of I/C, PR, BC, Married/Divoice cert, bank letter of offer, valuation report/pay slip (original), etc

12th Step -all duly executed OTP, statutory declaration (for agent only), and Resale Application form , & photocopies of above (step 11) to submit to HDB.

13th Step - Preferred appointment dates and time - buyer & seller to complete the "Preference for Appointment" form in the Resale Application Form. Take note that date/time is subject to availability at time of application, and 1^st Appointment date fixed by HDB is not allowed to change.

14th Step - Prior to the 1st Appointment, the resale flat must be inspected by Officers from HDB's Branch Office. Both the seller and the buyer will be informed of the inspection date in the Letter of Appointment. (about 3 weeks)

15th Step - 1^st appointment - approx 5-6 weeks.If either the buyer or the seller does not turn up for the 1st Appointment as scheduled, the resale transaction will be cancelled.

16th Step - 2nd Appointment, about 6-8 weeks after the 1st Appointment. During this appointment, HDB will witness the signing of the transfer document by seller; witness the signing of the mortgage document/agreement by the buyer (if applicable);

Others :

The handover of keys from the seller to buyer after having inspected the flat before the completion date.

Seller to settle the service & conservancy charges and property tax up-to-date and produce official receipts of payment.

A confirmation letter of ownership will be given to the buyer to enable him to apply for PUB supply and renovation permit.