We sell your home at
better prices
record speed
only 1% commission

Ohmyhome helps you maximize your returns on your property with expert advice and negotiation. Plus, at a low 1% commission fee, you get to keep more profits in your pocket.

We sell your home at
better prices
record speed
only 1% commission

65% of HDBs and condos sold in a month.

The top 1% of agents in Singapore to help you find your home

That’s why we sold HDBs and condos above market price.

 
 
Maximize the sale of your home

Get expert advice with 1% commission, more profit.

No fees until we sell your home.

All services provided are complementary.

What Are the Costs of Selling Property in Singapore?

Maelyn Lagman

Follow us on

Join our Telegram channel and follow our Facebook page for the latest property updates.

Thinking of selling your property in Singapore? Before you start dreaming about your potential profits, you should know that selling a HDB or selling a condo involves more than just listing your property online or negotiating with potential buyers. There can be hidden fees lurking around the corner, ready to nibble away at your profits. And we get it – nobody likes surprises when it comes to money.

Here’s a breakdown of all the costs involved when you sell your property, from agent commissions to general admin fees:

What are the costs of selling a HDB resale flat?

1. Agent’s Commission

This is typically 2% of the final selling price, but only 1% with Ohmyhome. 

    Approximately $2,500 to $5,000, depending on the complexity of the HDB resale transaction and the law firm engaged. With Ohmyhome, legal fees start from a significantly lower $1,800. This will cover the preparation and processing of all legal documents required for the sale, such as the sale and purchase agreement, title deed transfer, and liaising with relevant authorities.

    3. HDB Resale Levy (if applicable)

    If you are buying a subsidised HDB flat, then you may have to pay a resale levy. The amount varies based on the type of flat being sold.

    A subsidised flat refers to any of the following: 

    • A flat bought from HDB
    • A resale flat bought with CPF housing grant
    • A Design Build and Sell Scheme (DBSS) flat bought from a property developer
    • An Executive Condominium (EC) unit bought from a property developer
    • Other forms of housing subsidy (e.g. enjoyed benefits under the Selective En bloc Redevelopment Scheme (SERS), privatisation of HUDC estate etc.)

    If you are buying a resale flat or private residential property, you need not pay the resale levy.

    4. Early Redemption Penalty (if applicable)

    If you have an outstanding mortgage loan with the HDB or a bank, an early redemption penalty might apply. This is usually around 1.5% of the loan amount for bank loans.

    5. Valuation Fee

    You will have to pay a processing fee of $120 to HDB upon submission of Request For Value, which you will have to do after issuing the Option to Purchase (OTP). However, getting an indicative HDB valuation with Homer AI is completely free. You can do this even before you list your property for sale, to help you set the best selling price for your home.

    Do you know your current home value?

    6. Administrative Fees

    Approximately $80 for other administrative processes related to the sale.

    Temporary Extension of Stay Fee (if applicable): If you need more time to move out after the sale, a $20 fee for a temporary extension of stay will be borne by the Buyers as they are the owners of the flat at the time of extension. So technically, this isn’t a cost for you.

    Step-by-step guide to sell your HDB resale flat

    An infographic by Ohmyhome and the Housing & Development Board (HDB). The process is divided into three sections: "Plan, source and contract," "Resale Application," and "Resale Completion."

    Here’s the full HDB selling procedure in 2024:

    1. Register Intent to Sell
    2. Calculate HDB sale proceeds
    3. Post your HDB resale flat for sale
    4. Arrange viewings and conduct negotiations
    5. Grant Option to Purchase (OTP) to HDB buyer
    6. Discuss Temporary Extension of Stay with HDB buyer
    7. Buyer will exercise the OTP and pay the Option fee
    8. Submit HDB resale application
    9. Contact a conveyancing lawyer
    10. Endorse HDB resale documents
    11. Pay legal fees and other HDB resale costs
    12. Receive HDB approval letter
    13. Prepare for the Resale Completion Appointment
    14. Attend Resale Completion Appointment

    3 factors to consider before you sell your HDB flat

    1. The best time to sell your HDB flat in 2024
    2. You can sell your flat before MOP only for these 3 legitimate reasons
    3. Do not overprice your property 

    Sell your HDB with the Top 1% Agents in Singapore

    Drop us a message on WhatsApp or chat with us via our Live Chat to reach any of our property agents.

    Ohmyhome property agents holding orange folder

    What are the costs of selling a condo?

    1. Agent’s Commission

    This is typically 2% of the sale price, but only 1%* with Ohmyhome. For some, this can be negotiated, though you shouldn’t expect it from everyone. 

    Around $2,500 to $3,500, depending on the law firm and the transaction complexity. With Ohmyhome, legal fees start from a significantly lower $1,800. This will cover the preparation and processing of all legal documents required for the sale, such as the sale and purchase agreement, title deed transfer, and liaising with relevant authorities.

    3. Seller’s Stamp Duty (SSD)

    This is only applicable if the property is sold within the 3-year holding period. The rates are:

    • 12% if sold within the 1st year.
    • 8% if sold within the 2nd year.
    • 4% if sold within the 3rd year.

    No SSD is payable after 3 years.

    4. Early Redemption Penalty (if applicable)

    Usually 1.5% of the loan amount for bank loans if repaid early.

    5. Valuation Fee

    Typically $300 to $500 for a valuation report from licensed valuers, though if you took up a bank loan, they might provide you with an indicative valuation. Regardless, you can get a free estimated condo valuation from Homer AI for free. 

    Homer-AI-Banner_650x380px-2048x1218 (1)

    6. Condo Maintenance Fees

    The condo maintenance fees you will have to pay will be pro-rated up to the date of sale. 

    Step-by-step guide to sell your condo 

    Here’s the full condo selling procedure in 2024:

    1. Check payable Seller’s Stamp Duty (SSD)
    2. Conduct market research & post condo listing
    3. Home staging & renovation
    4. Find buyers on Ohmyhome
    5. Arrange viewings & negotiations
    6. Contact a lawyer & grant Option to Purchase (OTP)
    7. Complete the sale

    3 factors to consider before you sell your condo

    1. Some things have changed if this is your 2nd time selling 
    2. Can you afford your next home?
    3. You can’t buy a HDB flat until this period passes

    Whether you’re a seasoned seller or a first-timer, knowing these costs upfront empowers you to make a smarter decision for your property and avoid nasty surprises throughout the transaction process. 

    Sell your condo with the Top 1% Agents in Singapore

    Drop us a message on WhatsApp or chat with us via our Live Chat to reach any of our property agents.

    Ohmyhome property agents holding orange folder

    *Ohmyhome agent fees start from 1% of the sale price of private properties. It is only fixed at 1% of the sale price of HDB resale flats. 

    Follow us on

    Join our Telegram channel and follow our Facebook page for the latest property updates.

    Subscribe to the property newsletter read by 200,000 homies
    Get our finest insights sent straight to your inbox. Enter your best email.
    Unsubscribe anytime.

    Consult an expert for free!

    Send us your details and we’ll be in touch within 15 min (daily 9am to 9pm GMT +8).

    Our finest insights you'll be looking forward to receive.

    Read by 200,000 Homies. Enter your best email below to join in.

    Unsubscribe anytime.

    SHARE WITH YOUR FRIENDS!