Selling Procedures (HDB)

The very first step is to know whether you can sell. Minimum Occupation Period (MOP) needs to be observed. You may visit 

https://www.hdb.gov.sg/cs/infoweb/residential/selling-a-flat/eligibility

to find out more.

Calculation of sale proceeds. Will the sales be a nett negative sales. Know the proceeds after sales will also let you plan your options if you plan to purchase another unit. 

Know where you will be moving to after selling the flat. 

With step 2 & 3 known, we will be able to work out a timeline for the move. Whether we need extension and also we can plan when to purchase and commit to the new property.

Reference to the ever changing real estate market, we will come out with a pricing for your property. You may find our the estimated value of your property now using Home Value Report. 

You can do so 

https://www.hdb.gov.sg/cs/infoweb/residential/selling-a-flat/plan-source-and-contract/intent-to-sell

​

Note that the Intent to Sell is valid for 12 months, and there’s a 7-day cooling-off period before you can issue an OTP. 

This means you can’t market the flat first, find a buyer, then register your Intent to Sell and immediately issue the buyer the OTP.

Leave this to us. See how we will do it here.

Once you’ve found a buyer, you can issue them the formal HDB OTP. They’ll also have to give you a previously agreed-upon amount for the Option Fee (anywhere from $1 to $1,000).

From there, the buyer has 21 calendar days to confirm whether he or she really wants to buy your property. If they don’t, you keep the Option Fee.

If the buyer choose to excerise, they’ll have to pay you an Option Exercise Fee.

The Option Fee + Option Exercise Fee will form the deposit for your resale flat.

The exact amount for the Option Exercise Fee is negotiable, but the Option Fee + Option Exercise Fee shouldn’t go over $5,000.

​

Once excised, we may proceed with the resale submission.

https://services2.hdb.gov.sg/webapp/BB31ERESALE3/

​

Any extension application will also be made in this step.

HDB will now process the documents and will inform of the outcome once all the paperwork is in place. You will be notified of the final completion and an appointment will be made for the actual complettion.

Nearing the completion date, the new buyers will inspect the unit before the final completion. This is to ensure that there is no changes to the items agreed upon and you have moved out.

It will be good to terminate any GIRO payment made to the property. Also clear off any outstanding town council charges and property taxed payment to ensure that the completion is a smooth one.

Finally to the big day.

Stuff to Bring for Your HDB Resale Completion Appointment:

• Receipt for Service & Conservancy Charges payment

• Original Option to Purchase (OTP)

• All the keys for your HDB

If you’ve got a solicitor acting on your behalf, you won’t have to attend the HDB Resale Completion Appointment yourself. Otherwise, you and the buyer will have to head over to HDB Hub.