There’s no doubt you can find a resale HDB flat on your own, but a good property agent can help you make sound decisions and guide you through the home buying process with their years of experience and expertise. A good property agent can also get you access to homes before they even hit the market, with their network of referrals and co-brokers.
Ohmyhome CEO Rhonda Wong shared that she and co-founder, Race Wong, have set high standards when choosing who represents the company on the ground, recruiting only those with a passion for transforming the real estate industry, technical knowledge and good character. “We value our business, our clients, and our relationships, and so seek to hire only the best people,” she said in this Founder’s Message.
When you engage an Ohmyhome property agent, they will take care of everything for you. And they’re a valuable source of industry and insider advice.
Here’s what you can expect when you engage Ohmyhome HDB Buyer Agent Services:
1. Getting to know each other
Upon engaging Ohmyhome, you will be appointed a dedicated agent — with experience in buying resale flats in your desired location.
He or she will then set up a meeting with you at the date and time of your convenience, where they will:
- Get to know more about you
- Learn where you want to live next
- Why you need to buy a new home
- Find out your future property goals
- Understand your current financial situation
- Figure out the best timeline for moving
2. Organising your finances
Before jumping into online listings and home viewings, Ohmyhome property agents will assist you in financial planning. This means calculating your budget based on the following:
- How much you can get for your HDB or bank loan
- Your cash and CPF savings
- The CPF housing grants you’re eligible for
- Buyer’s stamp duty
Keep in mind that you will need to pay some HDB fees, including administrative, valuation, and legal fees. So our agents will help you with organising your budget for these.
3. Register Intent to Buy
Now that the planning has been done, Ohmyhome agents will assist you with registering the ‘Intent to Buy’ on the HDB Resale Portal. This gives you an initial assessment of your eligibility to buy a resale flat and apply for an HDB loan, as well as the CPF housing grants that you will be eligible for.
It will be valid for one year and must be done before the sellers grant you the Option to Purchase (OTP).
4. Sourcing of a resale HDB flat & arranging viewings
What’s your dream home and where is it located? Now that it’s time to go house hunting, remember to communicate all your needs to our agents. They will search for the best possible listings based on your requirements, such as the number of bedrooms, the facing of the unit, location, and price.
5. Negotiate price and exercise OTP
Once you’ve shortlisted a unit, they will assist you with market research to advise you on the best price to offer.
If the seller accepts your offer, you will be granted an OTP by the seller — a contract that binds him or her from selling the resale flat to others. It will be valid for the next 21 days; you must exercise the OTP within that time if you decide to proceed with the purchase.
At this stage, you will need to pay an option fee between $1 and $1,000 to the seller, which is non-refundable.
However, if you do not wish to proceed with the purchase and do not exercise the Option within 21 days, the seller will be free to offer the flat to another buyer after the OTP expires.
6. Apply for HDB valuation report
Ohmyhome agents will then assist you to apply for a valuation report from HDB. This is to determine the value of your unit and is necessary for processing your housing loan.
7. Exercise Option to Purchase
Once you have obtained the valuation report and your housing loan is in place, you will need to exercise the OTP if you have decided to proceed with the purchase.
At this stage, you will need to pay an exercise fee to the seller. The exercise fee is between $1 to an amount not exceeding $5,000, including the option fee amount. The option fee and the exercise fee — together — form the deposit for the purchase.
8. Submit resale application to HDB
Now that the OTP has been exercised, the next step is to submit the resale application to HDB. Your Ohmyhome agent will assist to do this for you. You will need to provide the necessary documents for the submission as advised by your agent.
9. Final inspection of flat (Before Completion Date)
The completion date is coming and you will be collecting the keys to your new dream home very soon!
Before this happens, our agent will arrange a final inspection of the flat before you attend the completion appointment at HDB. This final inspection is for you to do a final check of the flat to make sure that the sellers have completely vacated the unit with no movable items left behind in the flat unless otherwise stated.
10. Attend HDB completion appointment (Completion Date)
Our agent will also attend your resale completion appointment with you at HDB Hub, located in Toa Payoh Hub — linked to the Toa Payoh MRT station.
You will now only need to attend one resale appointment, which will take place about 8 weeks from the date that HDB accepted your resale application.
Once you have your keys on hand, it’s time to make your unit a home.
Ready to buy a resale HDB flat? Speed up your home search with us!
Let Ohmyhome’s smart data-matching technology MATCH you with the right home, according to your specific needs. Submit your preferences to us and our algorithm will filter all our available listings based on those, and we’ll WhatsApp them to you once we find a match. We’ll also send you relevant content that you can use for your research and inform your home buying decision, so you no longer have to spend hours searching online for the information that you need. Because at Ohmyhome, we’re always by your side, always on your side.
You can also call us at 6886 9009 to secure an appointment with any of our Super Agents or message us in the chatbox at the bottom, right-hand corner of the screen. You can also WhatsApp us at 9755 1009!
Redeem FREE home contents insurance
You can also get a free home contents insurance with Aviva, with up to $130,000 coverage for one year. This is exclusive to Ohmyhome clients.
Aviva’s home contents insurance plan will get you:
- Up to $20,000 on household contents (air conditioning unit, audio-visual equipment, built-in wardrobe, clothes, jewellery, domestic appliances, PC and laptop and camera)
- Up to $50,000 on renovations, fixtures and fittings
- Up to $50,000 on personal legal liability
- Up to $10,000 on alternative accommodation expenses
This is different from HDB’s fire insurance scheme, which only covers the structure, fixtures and fittings that comprise part of the building. Read more about home contents insurance here.