How do I apply for resale HDB?
How do I apply for resale HDB?
- Step 1: Check your eligibility to buy a resale HDB flat.
- Step 2: Plan your finances.
- Step 3: Look for a suitable flat.
- Step 4: Receive option to purchase from the seller.
- Step 5: Request a valuation report.
- Step 6: Complete the resale checklist for buyers.
- Step 7: Exercise your option to purchase.
What is required for resale application?
When submitting your resale application, you will need to provide the following information: Details of OTP (i.e. OTP Serial No., Option Grant/ Exercise Date, Purchase price, Option Fee/ Option Exercise Fee) Buyers’ particulars. Sellers’ particulars.
Will HDB reject resale application?
If there is any variation in the declared resale price, HDB has right to reject or cancel the resale application.
How long is HDB resale process?
12 to 15 weeks
The whole process of buying an HDB resale flat can take anywhere from 12 to 15 weeks, depending on how quickly you can choose the flat you want and negotiate with the seller.
How much cash do you need for resale HDB?
HDB flat buyers taking out a bank loan: 20% downpayment, of which at least 5% must be paid in cash. Private under-construction development: 20% deposit, of which at least 5% must be paid in cash. HDB resale flat: Deposit of up to $5,000 which must be paid in cash.
How much is the stamp duty for resale HDB?
Stamp duty for Deed of Assignment It is calculated at 0.4% of the loan amount, subject to a maximum of $500.
What are the documents required for resale flat?
- Immediate title deed.
- Chain documents.
- Copy of agreement of sale.
- Copy of the sale deed.
- Property tax payment receipts.
- Nil-encumbrance certificates.
- Copy of the approved building plan.
- No-objection certificate from the builder.
How many days should you exercise OTP?
You can only grant an OTP to buyers at least 7 days after registering your Intent to Sell. You can only grant an OTP to buyers at least 7 days after registering your Intent to Sell. You should use this cooling-off period wisely and consider the housing options available to you.
Can I buy resale flat before marriage?
You can start looking for an HDB resale flat at least 6 months before your Registry of Marriage. As you are required to produce your marriage certificate within 3 months from taking possession of a HDB resale, assuming you get your keys for your resale in August, it will fit well to your timeline.
Do I need to pay cash for resale flat?
The main payments you need to make for a resale flat purchase are as follows: Deposit to flat seller (option fee and deposit) Cash payment for balance purchase price (if applicable)
Can I use all my CPF to buy resale HDB?
How much of your CPF can you use? You can use your CPF Ordinary Account (OA) savings to buy a new or resale HDB flat, or private residential property, as long as the remaining lease on the property is more than 20 years.
What should I pay for HDB resale?
The main payments you need to make for a resale flat purchase are as follows:
- Deposit to flat seller (option fee and deposit)
- Initial payment.
- Cash payment for balance purchase price (if applicable)
How does a resale application work with HDB?
Upon the submission by the second party, the resale application will be considered as complete. With the complete set of resale application, HDB will then assess the buyers’ and sellers’ eligibility to buy/ sell the flat based in the date the second party submits their portion of the application.
How can I check the status of my resale application?
With the complete set of resale application, HDB will then assess the buyers’ and sellers’ eligibility to buy/ sell the flat based in the date the second party submits their portion of the application. Buyers and sellers will be able to check the status of the resale application via the HDB Resale Portal.
When to submit request for value for HDB flat?
The Request for Value may only be submitted if the buyer has been granted an Option to Purchase (OTP) by the seller of the flat. The buyers (or their salesperson) must submit the Request for Value by the next working day * after the Option Date.
How can I get an option to purchase from HDB?
After registering your Intent to Buy in the HDB Resale Portal, you can proceed to look for a suitable flat within your budget and obtain an Option to Purchase (OTP) from the sellers when you have agreed on a price for the flat.