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HDB Resale process, timeline and procedures (Part 1)

Updated: Sep 18




HDB resale process is made more efficient and smooth and user-friendly. The time timeline of the whole resale process is shortened to help HDB home buyers move in to their dream home faster.


In the past, HDB resale process has two different appointments. Now the “First Appointment” are unified into the process seamlessly so as to save time and reduce the timeline for HDB resale process.


A HDB resale process transaction (based on submission within 30 days) can be between 12 weeks to 16 weeks from the exercise date of the Option To Purchase (OTP) till HDB completion. The older process takes about 12 weeks to 20 weeks to reach completion.


Understanding the HDB resale process, procedure & timeline is important for your next transition so that you can time your schedule better and also inform your Interior designer or Contractors so that they can plan their workers for renovation. It is also important for sellers as they need to make plans to ensure their CPF is able to refund on time to transfer for the next property. If required, we will also plan for bridging loan or contra so that the appropriate authorities are well informed in advance.


Here is a quick summary of the 15 steps for selling your resale HDB flat:


Before you sell your HDB

  1. Check your eligibility to sell

  2. Understand your estimate sales proceed

  3. Decide on hiring professional housing consultant or DIY


When you start to sell your HDB

  1. Register your HDB Intent to Sell

  2. Advertise your home for sale.

  3. Request for Option to Purchase (OTP) from the seller

Once you grant your buyer OTP

  1. Buyer to request a valuation

  2. Buyer to exercise the OTP

Once Buyer Exercise OTP

  1. HDB resale application submission

  2. Safety inspection by HDB branch officer

  3. HDB resales documents endorsement and Conveyancing Payment

  4. Resale HDB approval

  5. HDB buyer's final inspection

  6. Attend HDB completion appointment and handover keys to new homeowners


1. Check Your Eligibility To Sell


Minimum Occupation Period (MOP).

After staying in your home for 5 years, most home owners have forgotten when is their MOP date. Therefore, it is important for owners to check and ensure you have met the Minimum Occupation Period (MOP).


The duration of the MOP depends on the purchase mode, flat types, and flat application date. You may log in to


You can login to My HDBPage with your Singpass and check if you have met the MOP to sell your flat, under My Flat > Purchased Flat > Flat Details and Minimum Occupation Period (MOP).



Ethnic Integration Policy (EP) and Singapore PR quota

To preserve Singapore’s multi-cultural identity and promote racial integration and harmony, HDB introduce EIP and SPR quota to ensure that there is a balanced mix of the various ethnic communities in HDB towns. The EIP limits are set at block and neighborhood levels based on the ethnic make-up of Singapore.


Multi-ethnic household family can choose to classify their household ethnicity under the ethnicity of any buyer(s) or spouse, according to the race shown on their NRIC. However, this ethnic will remain the same till they sold the house and cannot be change. This means that if they buy under others ethnic group, they have to sell to the same ethnic group assuming that the ethnic has been fulfilled during the period.


Do note that HDB updates the EIP/SPR quota on the first day of every month.


Bankruptcy or Divorcee

If you are NOT bankrupt or divorced, you may skip the following two pointers.


Bankruptcy Act

Under HDB Act, as long as any of the flat owners is SC, the consent of the official assignee (OA) is not required when selling. However, if non of the flat owners are SC, they must obtain the consent of OA before selling the flat.


Divorce

If you are going through a divorce, you need to produce:

  • Writ for Judicial Separation (previously known as Deed of Separation);

  • Interim Judgment (previously known as Decree Nisi) and Certificate of Making Interim Judgment Final (previously known as Decree Nisi Absolute); or

  • Divorce Certificate (for Muslims); and


2. Understand your estimate sales proceed


After understanding the first step, you are now ready to proceed further. This is one of the most critical steps not to ignore or make mistakes as this can help you identify the next home to purchase.


There are few information that you need to prepare to ensure that the numbers are correct.


1) Setting selling price realistically

In order to put together and analyze the value that you intent to put your selling price realistically, you need to gather some of the updated data from different sources.


The 4 sources mainly are HDB flat indicative valuation, the recent nearby transactions that occur the past 12 months, the current nearby asking prices, and the current market trend and performance in the HDB Estate..


After which , you will have a clearer picture of how much to set your selling price realistically.


Once you have a selling price in mind, next important step is to find out your outstanding mortgage loan and the CPF principal refund plus accrued interest for all the sellers after selling the flat. This will lead you to the estimated cash proceeds you are expecting to receive upon sales completion.


HDB Indicative Valuation

You should find out how much is your HDB flat worth before you decide on your selling price. The HDB indicative or expected valuation serve as a guide for you to understand how much is the fair market value of your property.

One easy way to obtain an estimation of your HDB indicative valuation is via SRX x-value. Below are the three easy steps to find out your indicative home x-value.





Recently transacted HDB in the vicinity

What your nearby neighbour sold their HDB value recently allows you to know roughly the price you would want to set as benchmark. If you have the indicative value and recently sold unit price, you will be able to estimate how much to set your selling price at the sweet spot.


The simple way to get the past transaction selling price is through the HDB one map. You need to input the flat type, location, and date of registration to display all the relevant recent sold/transacted data.


Current Nearby Asking Prices

This is the easiest part of all, where you can log on to the popular property portal and do a search on the listed price of the property nearby your home.



Outstanding Housing Loan

If you are using HDB Loan , you can obtain your outstanding loan for the current property.


However, if you are using Bank loan to finance your HDB, you will need to call your respective mortgage banker to get outstanding loan amount statement from the officer.


CPF Principal with Accrued Interest

You will need to log in My CPF> My Statement > Section C: Property and record down the Net amount used plus Accrued interest.



The amount determines how much cash proceeds you will receive after selling the house.




Estimated Cash Proceeds (Profit / Loss)


With the above information gathered, you will be able to determine your estimated cash proceeds from the selling. You will know in advance if your property will have profit or loss when you sell within the fair market transacted price.


Decide Professional Housing Consultant or DIY

If you have some experience in selling previously and you are clear on the processes and steps of buying and selling a HDB, you may decide to do it yourself. However. do note that you will need to handle all the phone inquiries and negotiations yourself. Also, you may be flooded by agent calling and asking for more information about your property and lose out on potential deals if you are overwhelmed with your daily work and selling transaction.


Many sellers however dislike direct negotiation with the buyer as they are afraid that the negotiations may lead to unwanted confrontation and chase the potential buyer away. Some sellers are not sure about the long procedures in HDB process from starting to sell to follow through HDB legal completion. Therefore, I suggest you engage a professional real estate agent to handle the marketing and sales procedure to have a hassle-free transaction and experience.


A professional real estate agent service can help you with the following:

• Give you the right advice on what to look out for, and prepare your property to give the buyer the best first impression

• Create 24/7 maximum exposure to market your property in various platform and social media

•Complete the complicated resale procedure and paperwork

• Prepare detailed presentation kits for the potential buyer

• Address buyer's inquiries and objections

• Arranging viewing appointment with minimize impact to your schedule.



I hope the above pointers will help you make a better decision on the start of selling process of your HDB in Part 1. Do Follow for more information on Part 2 on the rest of the points. If you feel lost in any part, I would suggest you to talk to me at no obligations so that I can brief you more on the process and procedures.


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