How long is the 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.

What is the procedure to buy a resale flat?

Though the required documents may vary from one bank to another, here are the most important documents that you need to submit while applying for a home loan to purchase a resale flat: Agreement to Sell (ATS) Chain of Title or Sale Deed. NOC from the society or other concerned bodies.

How much do you pay upfront 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 do I buy resale HDB?

1. Step 1: Check your eligibility to buy a resale HDB flat.
2. Step 2: Plan your finances.
3. Step 3: Look for a suitable flat.
4. Step 4: Receive option to purchase from the seller.
5. Step 5: Request a valuation report.
6. Step 6: Complete the resale checklist for buyers.
7. Step 7: Exercise your option to purchase.

How do you resale a house in HDB?

Hop on to the HDB Resale Portal and submit the buyer’s Resale Application. The seller will also have to submit a Resale Application on their end. Make sure you both submit it within 7 days of each other – otherwise, the application will be cancelled and you’ll lose the $40-80 admin fee!

How to register an intent to buy in HDB?

To start your buying journey, you need to register an Intent to Buy in HDB Resale Portal. You and the sellers must use the HDB-prescribed Option to Purchase (OTP) as the form of contract in the resale transaction.

When do you need serial number for HDB resale?

Sellers and buyers must state the Serial Number of the Option to Purchase when they submit a resale application to HDB. 4.3 Sellers who are granting an Option to Purchase from 1 January 2018 must use the prescribed Option to Purchase in the format approved for use with effect from 1 January 2018.

Do you have to qualify for HDB resale flat?

Find out how you can assist the buyers with their buying journey. The buyers must qualify under an eligibility scheme in order to buy an HDB resale flat. Check here for our eligibility schemes and other realted information.