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For the purchase of a HDB resale flat, the OTP and exercise of the OTP (deposit) will be paid by the buyer to the seller directly,.
How will the outstanding amount be paid to the seller(funded via a Bank Loan). Will it be paid to the seller from the Bank or through HDB? (Cant seem to find any information on the relevant websites)
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3 Answers

Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, are you using bank loan or HLE ?

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Robbie Chen Chee Howe
Hi,

Seller will get their Cash sale proceeds upon the HDB completion, with their CPF refunds another 1-2 weeks after the completion. Cash proceeds will be in cashiers order, issued to the owners of the flat.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Hi,

1) You may refer to the detail in this weblink for the whole procedures:
https://www.hdb.gov.sg/cs/infoweb/residential/selling-a-flat/procedures

2) Regarding detail of the process after submitting the resale application, you may find the detail here:
https://www.hdb.gov.sg/cs/infoweb/residential/selling-a-flat/procedures/resale-application/after-submitting-a-resale-application-

3) In normal circumstances, your lawyer will instruct the bank to disperse the loan 1 day before the completion.

4) HDB Customer Relation Manager (CRM; the one that shows on MYHDB) will check whether the amount of loan is correct accordingly.

5) CRM would have already prepared a crossed cheque bearing all sellers' names to hand over on completion.

6) If there is a COV in this purchase, your lawyer would request you to prepare a cashier order bearing all sellers' names 3 weeks before the completion.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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