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Guidelines in Selling HDB Flats Without An Agent

Posted by Wendy Swan on April 26, 2016 at 7:05 AM Comments comments (0)


Are you looking to sell your HDB flat? You can always do it, yourself, without the help of an agent. However, you will need to familiarize yourself with the process involved when putting an HDB property for sale. Here are a few tips to help you get started.


1. Verify your eligibility sell your HDB flat.

Before looking for potential buyers or listing your property for a sale, you need to ensure first that you’re, indeed, eligible to sell your flat. You would not need the help of experts in finding this out for you. You can handle it, yourself.

First, ask yourself how long you have stayed in your flat. The government insists that you should have lived in the flat for at least five years, or what is commonly known as the Minimum Occupation Period. Note that this does not require the time you had the flat rented.

Another factor you might want to check out is whether your potential buyer satisfies HDB’s quota policies. Are they a permanent resident? Are they someone of the same race or citizenship as you? If the buyer meets these requirements, then you can move on to the next steps in selling your HDB flat.


2. Accomplish your resale checklist.

This can be completed online so no worries. However, you need to get in done as soon as you will still have to wait for seven days before you can proceed to the next step. Remember that you need to look into this along with your co-sellers. You also need to indicate where you will be moving after selling the flat, and detail as well how you’re paying for your next home, if it happens to be an HDB flat still.


3. Market your HDB flat.

Advertise online your Singapore hdb for sale for no fee. The only thing you’d need to do is sign up for a free trial for using the real estate portal. Also, make sure to prepare your house for viewing appointments.

 See to it as well to prepare the Option to Purchase form and hand it over to interested buyers. This form can be downloaded straight from the HDB website and is valid for 21 days. You can only grant one OTP at a single time.

 Once the buyer agrees with the resale price of the flat, they can have the form signed. They need to settle an Option Fee for signing the OTP form. It doesn't have to be a huge amount, though. It can be as low as $1.

 

4. Finalize resale.

Once the buyer has already settled the deposit, they need to work on the resale application next. When this part is done, you can then proceed to booking an appointment with HDB. Note that you will have to submit various documents as the seller.

 If you deem the process overwhelming, don't hesitate to get in touch with HDB. Take advantage of the seminar’s they’re holding so you can understand better the HDB flat selling process.

 The procedure may be different than when you’re offering a https://justpaste.it/landed-property-for-rent-in-SG" target="_blank" rel="nofollow">landed property for rent Singapore. Decide early on which you would want better for your property.