Written by: Benjienen Toledo
The Housing & Development Board (HDB) has released an announcement that from 1 January 2018, resale flat buyers and sellers must log in to the HDB Resale Portal using their SingPass to start their buying or selling journey.
How to Use HDB Resale Portal
What Does the New HDB Resale Portal Mean for HDB Sellers and Buyers?
- The Intent to Sell/Buy replaces the Resale Checklist, which was used before 1 January 2018.
- There are no first and second HDB Appointments. There is only one HDB Appointment, which is the completion date.
- The seller is required to hand over the key to the buyer on the appointment date, which is eight (8) weeks from the date of HDB’s Acceptance of the Resale Application.
An Overview of the Streamlined Resale Process
- Seller registers an Intent to Sell in the HDB Resale Portal.
- Seller starts marketing their HDB either through DIY or by engaging an estate agent.
- Once the Seller has found a buyer, the buyer registers an Intent to Buy in the HDB Resale Portal.
- Seller grants Option to Purchase (OTP) to the buyer.
- Buyer gives the option fee on the Option Date.
- The Option Period is 21 days; the buyer exercises the OTP within that period.
- Both seller and buyer will submit a Resale Application within the timeframe they have agreed upon.
- The buyer and seller will be notified via SMS or email when the HDB’s Approval Letter is posted in the portal.
- HDB Appointment happens after eight weeks from the date of HDB’s Acceptance of the Resale Application if the necessary documents are submitted accurately and promptly. This appointment is considered the Completion Date; the seller is required to hand over the key on that date.
How Long is the Validity of the Intent to Sell?
Ready to sell your home? We’re ready to help.
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Ready to sell your home? We’re ready to help.
Schedule a consultation with one of Singapore’s top agents.
Ready to sell your home? We’re ready to help.
Schedule a consultation with one of Singapore’s top agents.
Ready to sell your home? We’re ready to help.
Schedule a consultation with one of Singapore’s top agents.
Ready to sell your home? We’re ready to help.
Schedule a consultation with one of Singapore’s top agents.
The Intent to Sell is valid for 12 months. You will need to reapply for an Intent to Sell if you do not submit your resale application within 12 months.
The results generated from the Intent to Sell are based on the information provided. It offers an indication of your eligibility and does not constitute approval by HDB. Your eligibility to sell a flat will be determined when you submit the resale application subsequently.
Please ensure that your details are accurate when registering your Intent. Your resale application will be rejected if the details submitted are different from those indicated in your Intent to Sell.
After completing the Intent to Sell, the HDB resale portal will direct you to download the OTP and to compute your estimated sale proceeds.
What Are the Benefits of HDB Resale Portal?
Now that you know how to use HDB Resale Portal, you can do verification checks before and during the buying or selling journey; thus, buying and selling an HDB resale flat will be easier and faster. Upon registration, the sellers/buyers will receive an instantaneous assessment on the following:
- Eligibility to sell/buy
- The Ethnic Integration Policy/Singapore Permanent Resident (EIP/ SPR) Quota
- Status of upgrading
- Billing of upgrading costs
- Recent transacted prices of nearby flats
With these changes and the introduction of the new HDB Resale Portal, buyers and sellers will enjoy a streamlined resale process. Through the portal, you will be guided on your HBD buying and selling journey and get to track the progress of your transactions.
Log in to the HDB Resale Portal with your SingPass to start your resale journey.
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