How much is resale application fee?
Resale Application Fees
Flat Type | Resale Application Administrative Fee* (Payable by buyer and seller) |
---|---|
1 and 2-room | $40 |
3-room and bigger | $80 |
How long does it take for HDB to accept resale application?
within 14 working days
If the application is in order, we will notify both parties of HDB’s acceptance within 14 working days, via SMS and emails. You may log in to the HDB Resale Portal to view the status of your resale application. The date of HDB’s acceptance of the resale application marks the beginning of the 8 weeks processing time.
How do I apply for a resale flat?
- Step 1: Check your eligibility to buy a resale HDB flat.
- Step 2: Plan your finances.
- Step 3: Look for a suitable flat.
- Step 4: Receive option to purchase from the seller.
- Step 5: Request a valuation report.
- Step 6: Complete the resale checklist for buyers.
- Step 7: Exercise your option to purchase.
When Must resale application be submitted?
Either the buyers’ or sellers’ portion of the resale application may be submitted first. Once the first party has submitted his portion, the second party will have to do so within 7 days. If not, the submission by the first party will lapse and they have to re-start the process.
Can I use all my CPF to buy resale HDB?
You can use your CPF Ordinary Account (OA) savings to buy a new or resale HDB flat, or private residential property, as long as the remaining lease on the property is more than 20 years.
What is the downpayment for resale HDB?
15%
Downpayment when buying a resale flat with an HDB loan The minimum downpayment you need to pay remains at 15% of the purchase price, which can once again be paid in cash, with your CPF-OA, or a mix of both.
How long is resale process?
Typically, a HDB resale process for a normal transaction (based on submission within 30 days) can be as fast 10 weeks or as long as 16 weeks from the exercise date of the Option To Purchase (OTP) until HDB completion, depending on how fast you submit for resale application, as compared to 12 weeks to 20 weeks with the …
How fast can I get a resale flat?
Submit Resale Flat Application to HDB After the submission of your application, you will have to attend two appointments with HDB and arrange for financing. The whole process from the submission of the resale application to collection of keys usually takes about 11 to 13 weeks provided there are no hiccups.
Who is eligible for resale HDB?
Eligibility criteria: All applicants must be SCs. Unmarried or divorced SCs must be 35 years old or above, and widowed or orphaned SCs must be 21 years old or above. Only joint purchasing is allowed, in which each SC will be listed as a co-applicant.
What documents do I need for resale application?
What are the information and documents to be provided when submitting the resale application?
- Address of the flat you are buying.
- Option to Purchase details (E.g. OTP Serial No., Option Grant/ Exercise Date, Purchase price, Option Fee/ Option Exercise Fee)
- Sellers’ particulars.
- Buyers’ and Occupiers’ particulars.
How long does resale process take?
How much do you pay upfront for resale HDB?
How Much Do You Pay Upfront for A Resale HDB? A deposit of up to $5000 is paid to the seller in two stages – 1) Up to $1000 at the granting of OTP, and 2) Up to $4999 when exercising of OTP.