HDB Sale Process

So you have decided to sell your HDB flat. As you prepare to put your HDB flat up for sale, you no doubt have a lot of questions and no small amount of anxiety. Your Ping Property Agent is here to help you understand the selling process, get your HDB flat ready to sell, evaluate offers, deal with closing and make your move to your next home. There are several stages involved in the sale of an HDB flat.

Preparation

Our Ping Property agent can help you to ascertain your eligibility to sell your flat and estimate the sale proceeds to plan for your next home. You could also visit the HDB website to get the most up-to-date information that would help you understand the sale process. The site has a sample timeline, details of each step of the process, and forms needed for the transaction.

Before we begin to market your HDB flat, your Ping Property Agent will go through HDB’s Intent to Sell with you. This Intent to Sell must be submitted online at least seven days before you grant the Option to Purchase (OTP) to a flat buyer.

Your Ping Property Agent will conduct multiple viewings of your flat and invite buyers to make offers to purchase your HDB flat. We will negotiate the best offer for you and you may decide whether to accept or reject the offers. You can check the resale transacted prices for the past two years via the Resale Flat Prices e-Service to help you make an informed decision.

Once you have decided to sell your flat, you may grant the buyer an OTP. Your Ping Property Agent will prepare all the documentation required for the sale. Both the seller and buyer must use the same HDB-prescribed OTP as the form of contract in the transaction. If the buyer wishes to purchase the unit, he has to exercise the option within the option period, which is 21 calendar days from the date of granting the OTP.

After the buyer has exercised the option, your Ping Property Agent will submit your resale application via the e-Resale Service for you. A resale application is considered complete only when the HDB receives both portions.

The fees involved in the sale of a flat include the administrative fees for the resale application, legal fees, property tax, and service and conservancy charges.

Estimated time taken to complete the sale

The transaction time depends on several factors:

• • Eligibility of both buyers and sellers
  • Mortgage housing loan obtained by buyers
  • Withdrawal of CPF monies for buyers and refund of CPF monies for sellers
  • Liaison with solicitors (if applicable)

Regularising unauthorised renovation works (if any)

After HDB has received the sellers’ application, an officer from the HDB Branch will carry out an inspection of the flat. The purpose of the inspection is to check for unauthorised renovation works in the flat that may damage HDB property and affect the structural stability of the flats or building.

The inspection is to assess the condition and safety of the renovation works, or compliance with any legislation for any installation of fittings or fixtures in the flat. It is not to find out the value of the flat.

HDB will send you a resale Resale Application Approval letter and you will be informed of the inspection date in that letter. You must make sure that any unauthorised renovation works in the flat are rectified before the completion of the resale transaction.

Attend appointments

The buyers and the sellers must personally attend completion at HDB unless they appointed a private lawyer to represent them.

The Completion Appointment is normally arranged about 6 to 8 weeks from the approval date of the resale application.

Important Note

A Power of Attorney (POA) is needed if the sellers are unable to attend personally to matters relating to the sale of their flat. These documents must be submitted to HDB:

• • Certified true copy from the High Court + 2 photocopy
  • 2 certified true copies of the PoA by an Advocate and Solicitor
  • A letter from the Solicitor confirming that the standard format for PoA provided by HDB has been used
  • Certified true copy by an Advocate and Solicitor together with the computer printout with the High Court seal where POA has been registered through the Electronic Filing System.

Deliver vacant possession of flat upon resale completion

A smooth resale transaction usually takes about 6 to 8 weeks to complete. You should do some planning to make sure that you have sufficient time to make the necessary preparations to move out of the flat by the resale Completion Date. Speak to our Ping Property agent to discuss the timeline with you on the sale of your HDB flat.

As you are no longer the owners of the flat, you will not be allowed to continue living in the flat after the completion of the sale. You can arrange with the buyers to extend your stay temporarily in the flat for up to 3 months after the legal completion, if you need more time to move out of your flat. In order to do so, you must have committed to buy a completed housing unit in Singapore (another HDB flat or private residential property).

Check out our different Flat Fee Package for various types of property

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