Asked by Anonymous
how to sell a flat without agent
4332 views
3 Answers
Afternoon,
To perform such DIY transaction, there's a list of guides stated on the HDB website. You can go through them, fill up the seller's checklist, perform your own financial computation, place your own advertisement, stage your selling price and nego with your buyer, do all the other necessary paperwork and save merely a few thousands of dollars but you risk many other unknown factors. As the word goes, never handle anything which you are not familiar with and property transaction deals with law and regulations. One wrong step and you might be on the other side of the line.
All the best.
Regards
Mike Lim
96929209
ERA Read More
To perform such DIY transaction, there's a list of guides stated on the HDB website. You can go through them, fill up the seller's checklist, perform your own financial computation, place your own advertisement, stage your selling price and nego with your buyer, do all the other necessary paperwork and save merely a few thousands of dollars but you risk many other unknown factors. As the word goes, never handle anything which you are not familiar with and property transaction deals with law and regulations. One wrong step and you might be on the other side of the line.
All the best.
Regards
Mike Lim
96929209
ERA Read More
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Selling your HDB flat in Singapore without an agent is possible, but it requires more effort and knowledge of the process. Here's a step-by-step guide:
1. **Register Intent to Sell:**
* Log in to the HDB Resale Portal using your SingPass.
* Register your intent to sell and obtain a valid Intent to Sell (ITS) number. This allows you to grant an Option to Purchase (OTP) to potential buyers.
2. **Price and Market Your Flat:**
* Determine a realistic asking price by researching recent transactions of similar flats in your area. You can use online portals like PropertyGuru, 99.co, and SRX Property to gather data.
* Prepare your flat for viewings by decluttering, cleaning, and staging it to make it appealing.
* Advertise your listing on various platforms like:
* Online property portals (PropertyGuru, 99.co, SRX Property)
* Social media platforms (Facebook groups, Instagram)
* Community notice boards
* Word-of-mouth
3. **Grant Option to Purchase (OTP):**
* Once you find a buyer who is ready to commit, grant them the OTP. This is a legal document that gives the buyer the exclusive right to purchase your flat within a specific time frame (usually 21 days) upon payment of an option fee (1% of the agreed-upon price).
* Ensure all terms and conditions of the sale are clearly stated in the OTP.
4. **Engage a Solicitor:**
* After the OTP is exercised, engage a solicitor to handle the legal aspects of the transaction. They will prepare the necessary documents like the Sale and Purchase Agreement (SPA).
5. **Submit Resale Application to HDB:**
* Both you and the buyer need to submit the resale application online through the HDB Resale Portal along with the required documents.
* HDB will then process the application and verify the eligibility of both parties.
6. **Endorse Resale Documents and Pay Resale Fees:**
* Once HDB approves the resale application, you and the buyer need to endorse the resale documents online and pay the relevant fees.
7. **Attend Resale Completion Appointment:**
* Both parties must attend a resale completion appointment at HDB Hub to complete the transaction and transfer ownership of the flat.
**Tips for Selling Without an Agent:**
* **Do Your Research:** Thoroughly understand the HDB resale process and regulations.
* **Set a Realistic Price:** Don't overprice your flat, as this can deter potential buyers.
* **Market Your Flat Effectively:** Use high-quality photos and a detailed description to showcase your flat.
* **Be Responsive and Professional:** Respond promptly to inquiries and be prepared for negotiations.
* **Consider Professional Help:** If you encounter any difficulties, don't hesitate to seek help from a lawyer or a property advisor.
By following these steps and tips, you can successfully sell your HDB flat without an agent and save on commission fees.
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
----------------------------888--------------------------------888--------------------------->>>
"If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )
(***) You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.
For buyers, I offer solutions for sourcing resale and new private homes at no charge.
I can connect you with reputable bankers for private housing loans free of charge and with no obligation.
I also have partners to assist with mortgage home insurance matters.
Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EX Read More
1. **Register Intent to Sell:**
* Log in to the HDB Resale Portal using your SingPass.
* Register your intent to sell and obtain a valid Intent to Sell (ITS) number. This allows you to grant an Option to Purchase (OTP) to potential buyers.
2. **Price and Market Your Flat:**
* Determine a realistic asking price by researching recent transactions of similar flats in your area. You can use online portals like PropertyGuru, 99.co, and SRX Property to gather data.
* Prepare your flat for viewings by decluttering, cleaning, and staging it to make it appealing.
* Advertise your listing on various platforms like:
* Online property portals (PropertyGuru, 99.co, SRX Property)
* Social media platforms (Facebook groups, Instagram)
* Community notice boards
* Word-of-mouth
3. **Grant Option to Purchase (OTP):**
* Once you find a buyer who is ready to commit, grant them the OTP. This is a legal document that gives the buyer the exclusive right to purchase your flat within a specific time frame (usually 21 days) upon payment of an option fee (1% of the agreed-upon price).
* Ensure all terms and conditions of the sale are clearly stated in the OTP.
4. **Engage a Solicitor:**
* After the OTP is exercised, engage a solicitor to handle the legal aspects of the transaction. They will prepare the necessary documents like the Sale and Purchase Agreement (SPA).
5. **Submit Resale Application to HDB:**
* Both you and the buyer need to submit the resale application online through the HDB Resale Portal along with the required documents.
* HDB will then process the application and verify the eligibility of both parties.
6. **Endorse Resale Documents and Pay Resale Fees:**
* Once HDB approves the resale application, you and the buyer need to endorse the resale documents online and pay the relevant fees.
7. **Attend Resale Completion Appointment:**
* Both parties must attend a resale completion appointment at HDB Hub to complete the transaction and transfer ownership of the flat.
**Tips for Selling Without an Agent:**
* **Do Your Research:** Thoroughly understand the HDB resale process and regulations.
* **Set a Realistic Price:** Don't overprice your flat, as this can deter potential buyers.
* **Market Your Flat Effectively:** Use high-quality photos and a detailed description to showcase your flat.
* **Be Responsive and Professional:** Respond promptly to inquiries and be prepared for negotiations.
* **Consider Professional Help:** If you encounter any difficulties, don't hesitate to seek help from a lawyer or a property advisor.
By following these steps and tips, you can successfully sell your HDB flat without an agent and save on commission fees.
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
----------------------------888--------------------------------888--------------------------->>>
"If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )
(***) You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.
For buyers, I offer solutions for sourcing resale and new private homes at no charge.
I can connect you with reputable bankers for private housing loans free of charge and with no obligation.
I also have partners to assist with mortgage home insurance matters.
Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EX Read More