On the day of the completion of HDB resale unit, HDB will witness the following things;
- Signing of the transfer document by seller
- Signing of the mortgage document/agreement by buyer, if applicable
- Handover of keys from the seller to buyer only after:
- The buyer finds the physical condition of the flat acceptable, having inspected it the day prior.
- The seller has paid the service and conservancy charges and property tax and produces official receipts for full payment.
Once this is over, the buyer will receive a confirmation letter of ownership permitting him to apply for electricity and water supply. A renovation permit will also be issued.
The seller in the mean time will receive his cheque for the net sale proceeds if there are any.
The refunding of his CPF monies will be arranged by HDB to be credited back into his CPF account within seven working days from the date of completion of the resale transaction.
Singapore Permanent Residents, take note that HDB will only complete the resale transaction after the Supreme Court has given confirmation that the seller is not bankrupt.
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