Asked by Anonymous
What is the HDB resale process?
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3 Answers
Hello,
What is the HDB resale process?
How long does HDB resale process take?
How does HDB resale work?
How do you pay for a resale HDB flat step by step?
What happens after you submit resale application?
The HDB resale process refers to the process of selling a Housing and Development Board (HDB) flat that has already been occupied. Here's a brief overview of the steps involved in the HDB resale process:
1. Finding a buyer: You can find a buyer on your own, or engage a property agent to help you.
2. Negotiating the price: Once you have found a buyer, you and the buyer will negotiate the price of the flat.
3. Signing the Option to Purchase (OTP): Once the price has been agreed upon, the buyer will sign an Option to Purchase (OTP) to indicate their intention to purchase the flat.
4. Obtaining the Valuation Report: The buyer will then arrange for a Valuation Report to be prepared by HDB, which will state the market value of the flat.
5. Completing the paperwork: You and the buyer will complete the necessary paperwork, including the Sale and Purchase Agreement, and submit it to HDB for approval.
6. Completing the CPF withdrawal: If you have used your Central Provident Fund (CPF) savings to pay for your flat, you will need to make a CPF withdrawal to repay the CPF Board.
7. Completing the transfer of ownership: Once all the necessary paperwork has been completed and approved, the ownership of the flat will be transferred from you to the buyer.
8. Collecting the sale proceeds: Finally, you will receive the sale proceeds from the sale of your flat.
It's important to note that the HDB resale process can take several months to complete, so it's a good idea to plan ahead and allow enough time for the process to be completed.
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What is the HDB resale process?
How long does HDB resale process take?
How does HDB resale work?
How do you pay for a resale HDB flat step by step?
What happens after you submit resale application?
The HDB resale process refers to the process of selling a Housing and Development Board (HDB) flat that has already been occupied. Here's a brief overview of the steps involved in the HDB resale process:
1. Finding a buyer: You can find a buyer on your own, or engage a property agent to help you.
2. Negotiating the price: Once you have found a buyer, you and the buyer will negotiate the price of the flat.
3. Signing the Option to Purchase (OTP): Once the price has been agreed upon, the buyer will sign an Option to Purchase (OTP) to indicate their intention to purchase the flat.
4. Obtaining the Valuation Report: The buyer will then arrange for a Valuation Report to be prepared by HDB, which will state the market value of the flat.
5. Completing the paperwork: You and the buyer will complete the necessary paperwork, including the Sale and Purchase Agreement, and submit it to HDB for approval.
6. Completing the CPF withdrawal: If you have used your Central Provident Fund (CPF) savings to pay for your flat, you will need to make a CPF withdrawal to repay the CPF Board.
7. Completing the transfer of ownership: Once all the necessary paperwork has been completed and approved, the ownership of the flat will be transferred from you to the buyer.
8. Collecting the sale proceeds: Finally, you will receive the sale proceeds from the sale of your flat.
It's important to note that the HDB resale process can take several months to complete, so it's a good idea to plan ahead and allow enough time for the process to be completed.
==============================
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https://wa.me/c/6583004411
https://www.youtube.com/@AskRealtorMani/videos
Check the above links, not only you will get the answer,
but also other relevant questions that people already asked.
==================================================
People also asked similar questions, to get detailed and specific answers via live chat now
#AskRealtorMani @AskRealtorMani +65 8300 4411
WhatsApp:
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Check my profile https://linktr.ee/AskRealtorMani (New)
(Get the updated list of lowest-priced properties)
Watch more than 500+ Videos, Practical Property Tips
https://www.youtube.com/AskRealtorMani?sub_confirmation=1
Read more practical property tips
https://askrealtor.sg/blog/
How much is my home worth?
https://www.srx.com.sg/mysg-home?inviteId=852922
Watch my latest videos, Get more practical property tips, and Join me on TikTok Now https://now.tiktok.com/@askrealtormani/invite?_t=8XjJ2yJiKtF
Read more latest property tips at my blog site https://askrealtormani.blogspot.com/
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Latest infographics on Pinterest https://www.pinterest.com/AskRealtorMani/
Check my profile https://linktr.ee/AskRealtorMani (New)
Get 1000+ Practical tips for property buying, selling, and investing
>>> https://wa.me/c/6583004411
Get all these at no cost to you and more...
Below Market Value Properties Deals - ALERT
Auction and Private Treaty, Fire Sale - LIST
Indicative Home Valuation - REPORT
Latest Property News, Trends, Market Outlook - REPORT
Financing and Marketing Analysis Reports - PROPOSAL
Legal and Tax Planning - RESOURCES
Compare Freehold Vs Leasehold properties - CHART
Compare New launch Vs Resale properties - CHART
Loan, Tax, CPF, Property financing - CALCULATORS
Rental yield, capital gain, EnBloc potential - CALCULATORS
For the buyer, get value buy property - LIST
For the seller, let my ready buyer view your property - VIEW
For the investor, get the list of below market value properties - DEALS
For tenants and landlo Read More
1
Hi,
1) You may find the detailed buying process of the resale HDB flat on the HDB website:
https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/buying-procedure-for-resale-flats
2) The listed processes are all the legal processes of buying.
3) The missing parts are the possible hiccups you may face and the solutions for the obstacles.
4) If you intend to DIY in the buying. My suggestion is to read the prescribed OTP issued by the HDB and understand all the conditions and terms.
5) You may suffer from financial and time losses if you are not careful in the buying.
6) Practice a prudent attitude in the purchase, leave the site if you are unsure of the implication when there are special conditions raised during the negotiation process.
7) Ensure you negotiate all the details and settle all doubts before placing your options and collecting the OTP.
Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!
Hope the above answer 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://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
Note:
Any response to our answer does not reach us.
The best way to get a follow-up is to Whatsapp or email us directly. Read More
1) You may find the detailed buying process of the resale HDB flat on the HDB website:
https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/buying-procedure-for-resale-flats
2) The listed processes are all the legal processes of buying.
3) The missing parts are the possible hiccups you may face and the solutions for the obstacles.
4) If you intend to DIY in the buying. My suggestion is to read the prescribed OTP issued by the HDB and understand all the conditions and terms.
5) You may suffer from financial and time losses if you are not careful in the buying.
6) Practice a prudent attitude in the purchase, leave the site if you are unsure of the implication when there are special conditions raised during the negotiation process.
7) Ensure you negotiate all the details and settle all doubts before placing your options and collecting the OTP.
Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!
Hope the above answer 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://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
Note:
Any response to our answer does not reach us.
The best way to get a follow-up is to Whatsapp or email us directly. Read More
1