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Hi there,

We are SPR who are currently planning to buy a resale HDB. We would like to seek for your advice on few questions below:

1. To pay BSD and ABSD at which stage? Within 14 days after exercising OTP or HDB acceptance of resale application?

2. To pay remaining 5% cash initial payment (subtract 5k as OTP deposit) at which stage?
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7 Answers

Hi, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead.

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

Judging from the questions you have asked, I suppose that you do not have any experience in property transactions?

If that's the case, my advice for you is to engage a professional agent who can assist you in your purchase.

With this being possibly your single biggest purchase in your lifetime, it is not worth risking the transactions while just trying to save some commission.

Just for your info, I had recently assisted a Malaysian SPR couple in their HDB purchase, saving them $70k from their purchase price as compared to another unit that is sold shortly after. I believe the value-add I provided to them more that covers the commission they paid to me.

I am experienced and well-versed in both private and HDB resale transactions. I will be able to assist you in your housing 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,

It seems like you're at a early stage of consideromg a purchase.
Other than "when", you have to also consider "where". You may approach any agent to advise where to look for so that you don't have to run around the island before understand your budget only allow to purchase certain area and which are the types.

Briefly explain here is even though we all understand there are 3-rm, 4-rm, 5-rm flat in Singapore. However, there are corridor type, non-corridor type.
The price can be so much different where it just beyond your reach. So it is important to fine tune what you really like before rushing into the market.

The stages of HDB purhcase once you decided on all factors are as follow:
1) Talk to any banker to confirm you loan amount (may also ask the agent who you approach)
2) Register Intent to purhcase (on HDB website)
3) Make your offer and pay Option fee ($1,000)
4) Seller issued OTP upon acceptance
5) Submit for resale valuation ($120) - within 24 hours
6) Wait for valuation report - 5 days to 3 weeks
7) Exercise OTP ($4,000) - within the agreed period (max. 21 days from option)
8) Submission of resale application
9) Wait for approval of sale from HDB (7~28 days)
10) Payment of 25%-$5,000, cash and/or CPF
11) Conduct Final Inspection.
12) Timeline of (9) ~ (12) is 8 weeks. Attend HDB appointment to collect your keys.

Note: You have engage a lawyer upon exercise your OTP (7) so as to follow up with HDB and bank to arrange for payment and settle all legal document.
Your payment to lawyer is around the same time at making payment for the flat.

In short, your money have to be ready before you starts your journey of searching.

Hope the above answer to your main concerns, but if there are more queries, 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://www.facebook.com/Homesellerbuyer

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Hi
Payment for cash deposit and stamp duty is usually payable 3 weeks after submission of HDB resale application. CPF usage is allowed for stamp duty payment. I provide free and non obligatory discussions including financial planning on your property purchase. Do get back to me at 93375051  .
Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
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Hi,

The stamp duties are payable after acceptance of hdb resale application. If your CPF OA is sufficient, you can use them to pay the amounts. The balance cash payments are payable at completion appointment, including agent commission of 1% of purchase price+GST.

I understand your concern is the cash flow planning, happy to share more on the detailed breakdown as I have done for several of my hdb clients.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

ERA Top 15th Achiever in April 2019 (Top 1% Company Level)
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SMU BBM (Finance), Magna Cum Laude
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We would like to thank you for ensuring a smooth and well-explained process throughout the whole selling and buying of our property. We got to know you thru Property Guru, where we are scouting for condo around West area. We remember that we are quite tight in our budget in purchasing the condo unit,but you are still very willingly explaining and calculating our financial liabilities. You are always having your smiles whenever we met for discussion.

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OHMYHOME PTE LTD
Greetings from Ohmyhome!

BSD and or ABSD payable after acceptance of resale applications by HDB.

Remaining 5% cash payable upon completion.

Should you need further information or assistance, feel free to contact us at 68869009  or WhatsApp us at 97551009  .

We will be most glad to assist.

Richmond Chia
Senior Advisor
Ohmyhome Pte Ltd Read More
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