For an HDB flat, you must first register your Intent to Sell via HDB's Resale Portal.
Once a buyer is found, he/she will first need to pay an option fee of an amount not exceeding $1,000. After which, you then issue an Option to Purchase (OTP) form after 7 days from the date of the Intent to Sell. The buyer can then submit the OTP to HDB to request for a valuation. An assigned valuer will then inspect the HDB flat to determine its valuation. The buyer is also given 21 days to think over the intended purchase and to check his eligibility, financing aspects and other issues such as whether the flat is affected by redevelopment or upgrading, the liability to pay for upgrading costs, levy and so on and then to exercise his/her option.
To exercise the option, the buyer must sign the 'Acceptance' portion on the OTP by ensuring that the date of issue of the HDB Loan Eligibility or bank's Letter of Offer is before the date of acceptance. The buyer must then deliver the OTP to you and pay the Option Exercise Fee (which is a sum not exceeding $5000 - less the deposit already paid). All this must be done within the 14-day option period. Upon exercising the Option, a binding contract is formed between the seller and buyer for the sale and purchase of the flat. If the buyer decides not to proceed with the purchase, he/she will lose the option fee.
You may find our guide here useful: https://www.propertyguru.com.sg/property-guides/GuruView-selling-25788
For a private property, the buyer must do the following two steps:
1. Pay the property seller the Option Money which is equivalent to 1% of the agreed sale price.
2. Within the stipulated Option Period (usually within 14 days of the Option), exercise the right by signing the 'acceptance copy' of the Option form, and paying another 4% of the sale price.
In all, Sale By Private Treaty transactions, when the buyer exercises his 'Right to Buy', a binding sale contract is formed.
You may read more about the procedures here: https://www.propertyguru.com.sg/property-guides/what-is-an-option-to-purchase-agreement-15959
Hope this answers your question.
Team PropertyGuru Read More
I can assist. 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.
Ivan Ng Realtor
ERA Senior Marketing Director
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-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --
I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.
-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --
I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan. Read More
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.
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You can dial this number 97486305 for further assistance on selling your property.
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.
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I will be glad to assist
Appreciate if you can contact me at (65) 96608508 with details of your unit
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508
Email: Silviayang8@gmail.com Read More
I will be happy to give you an overview of the sale process and share with you some important issues to take note of when selling your property.
Please feel free to contact me so that I can share with you more about my track records and more importantly the marketing plan and strategies that have enabled me to deliver record-high prices for my clients consistently.
(M) +65 9644 4854
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Testimonial from Satisfied Clients
“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
Peter & Wendy (Property Seller)
I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
Weilun & Benita (Property Seller)
“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)
“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations. We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)
“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very fr Read More
I would be glad to assist you.
Feel free to contact me @ 97100155
Hope to hear from you soon.
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