Complete Selling & Buying Guide

HDB Flat to Resale HDB Flat

All you will need to know before selling your current HDB Flat to move into a Resale HDB Flat

1.0 – Check Sale PRice

Check your neighbouring transaction prices for an estimate of your current property sale price.

1) Enter Your HDB Flat Details Here to check out recent transactions in your area; or
2) Consult Me Directly Now to check your sale price & structure a complete moving plan.

2.0 – Check Remaining Loan

Check your remaining amount payable

[Remaining Loan Payments] + [Interest from Bank Loan or CPF Accrued Interest]

3.0 – Check Resale Levy

Check for Resale Levy

You will be liable to pay a Resale Levy amount if you have used your first subsidised flat privilege with HDB. Read more about it here.

4.0 – Check Cash Proceeds

Determine a Profitable Sale or Negative Sale

From the information gathered above, you will be fairly certain whether selling your HDB Flat and moving into your next HDB Flat will be possible or not; including estimates of cash proceeds.

4.5 – Consult an Agent

Consult on Decision to Sell

There are other factors which may sway your decision such as eligibility for Top-Up Grant, other grants, and Unique Loan Structuring.

Request For A Comprehensive Consultation Here if you want to make sure you've covered all your options, and begin this process with a proper timeline plan.

5.0 – Check Household Income

Determine your current total/combined household income (for next loan)

Here are incomes not considered for credit assessment:
- Alimony/maintenance fee
- Bonuses
- Claims/reimbursement/expenses
- Director's fee
- Dividend income/interest from deposit accounts
- Income from overtime work
- National Service allowance
- Occupier's income
- Overseas cost of living allowance
- Pension
- Rental income
- Scholarship overseas allowance

6.0 – Check Affordability

Calculate financial affordability in cash & in loanable amount

In Cash:
- In the case of having to pay Cash-over-Value (CoV) for your ideal next property, or to cover OTP & other intermittent transaction fees.
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In Loanable Amount:
To check your loanable amount from private banks, or from a HDB loan; if you intend to take a HDB loan, you will need to Apply For Home Loan Eligibility Here, which will be valid for 6 months; do this before going to view flats. Alternatively, Follow This Link to Read About The HLE Application Process.

6.5 - Hire a Seller + Buyer agent

Marketing & Sale of Existing HDB Flat

‍Hire A Seller + Buyer Agent (2-in-1)
You will have to engage a licenced agent to put your property on the market. An agent will be able to leverage their existing group's buyer network to help you find a suitable buyer quickly. The agent will also be able to protect you from underhanded negotiation tactics to lower your sale price. We will cover these scenarios if you choose to sell with me.

7.0 – Register to Sell

Selling your HDB Flat

1) Register to Sell
Log in to your HDB Resale Portal and register for HDB Flat Eligibility. Valid for 6 months.
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2) Find Buyers & Issue OTP (after 7-days cooling off period)
You are required to observe a 7-day cooling off period before you can issue an Option-to-Purchase (OTP) to potential buyers at a S$1000 Option Fee.
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3) Exercise Option (within 21-days)
The buyer will have 21-days to 'Exercise the Option' buy signing on the OTP Acceptance section & paying the remaining S$4,000 Exercise Fee.
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4) Submit Resale Application (within 7-days of each other)
Both you and your buyer will have to submit a Resale Application within 7-days of each submission; submission dates to be decided together.
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5) Acknowledgement of Documents
Both you and your buyer must log in to the HDB Resale Portal to acknowledge the submitted documents online.
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6) Delivery of Vacant Possession (within 8 weeks)
You will have to handover the keys & prepare to finalise some documents.
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7) Completion of Sale
You will receive the cash order of the sales proceeds (if any) and your CPF will be refunded to your respective Ordinary Account (OA) within 14 working days.

7.5) Temporary Extension of Stay
If you require a little more time to move out of your current home due to unplanned timing inconveniences, you may arrange with your buyer to apply for a temporary extension of stay (for up to 3 months; not to be abused)

8.0 – Register to Buy

Buying a Resale HDB Flat

1) Register to Buy
Log in to your HDB Resale Portal and register for the HDB Flat Eligibility and apply for Home Loan Eligibility (HLE) if you plan on taking a HDB loan. Valid for 6 months. read more about the resale Purchase process here.
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2) Engage a Buyer Agent
Hire a buyer agent to distinguish between false advertisements for properties by virtue of being a licenced agent itself. A buyer agent would also help calculate your financial affordability and minimise expected mistakes through the buying process.
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3) Search for a Suitable Flat & Obtain an Option to Purchase (OTP)
Arrange viewings with your buyer agent and fork out the S$1,000 Option Fee to receive the signed Option to Purchase (OTP). Your OTP Date has begun.
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4) Apply for Valuation
Submit request for value here as soon as possible. Once you have received the valuation, you may choose to proceed with the sale.
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5) Bank Loan (if applicable) & Law Firm Representation
Unless you have applied for a HDB Loan earlier, this is where you apply for a Bank Loan to receive a Letter of Offer; and engage a law firm to represent you as well.
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6) Exercise Option (within 21-days)
Exercise the Option to Purchase (OTP) by paying the seller the remaining S$4,000 Exercise Fee and signing on the acceptance section; this has to be done within 21-days of OTP Date.
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7) Submit Resale Application (within 7-days of each other)
Both you and your buyer will have to submit a Resale Application within 7-days of each submission; submission dates to be decided together.
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8) Acknowledgement of Documents
Both you and your buyer must log in to the HDB Resale Portal to acknowledge the submitted documents online.

9) Application Acceptance & Inspection
Once HDB has received and accepted both your resale applications, they will send Technical Executives to check if there are unauthorised renovation works in the flat that may damage HDB property and affect the structural stability of the flats/ building. You (the incoming buyer) are encouraged to do your own inspection as well. Read more about the inspection process here.

10) Completion of Resale Purchase
Once approved, you will have to prepare the balance payment of the flat and collect the keys from the seller.

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