When it comes to the processing of a Resale HDB, one of the biggest aspects for any prospective Buyer/Seller to consider is the timeline, especially so because it impacts your ability to make plans for the next housing unit.
In this article, we will shed some light on the HDB Processing Timeline, so that you can gain a better understanding of the process and plan your purchase.
This article is not about the process of looking for a unit as a Buyer or marketing your unit as a Seller - we assume you've already made plans for this.
As a Buyer, the first thing you will need to do is to apply for a HFE Letter.
See : A Step By Step Guide to Apply For The HDB Flat Eligibility HFE Letter
And for a Seller, the first step in this process is definitely to register an Intent To Sell.
(Read more : A Guide To Applying For The HDB Intent To Sell)
Subsequently, for the maketing of your unit, you can use services such as :
You can get some ideas on how to price your unit by referencing existing listings on portals such as PropertyGuru or 99.co or by using the HDB Map Services to check out the transacted prices in your area.
The process of marketing your unit, conducting viewings, sifting through buyers and negotiating prices will take some time, so do be prepared for that!
The HDB Flat Portal, which can be accessed at https://homes.hdb.gov.sg/home/landing
PART 1
Let's fast forward the process a little bit and assume that you've come to an agreement on a selling price with a buyer and you are now ready to process the sale.
Here's what will happen next:
PART 2
Once the Buyer has exercised the Option, the next step is to upload the Resale Application to the HDB Resale Portal.
The timeline for doing so will be as per the number of days indicated in the OTP document.
Whilst usually written as 30 days, there is no fixed value for this time period; however, there is a maximum number of days that both parties can wait before uploading to the HDB Resale Portal, else the transaction is invalid.
This maximum period is determined by the expiry date of the earlier obtained Valuation Report.
PART 3
If the Buyers and Sellers had agreed to the Seller's request for Temporary Extension of Stay, after the HDB Final Appointment, the Sellers will continue staying in the unit until the agreed final handover date.
Do note that the Temporary Extension of Stay only lasts for a maximum of 3 months.
Please refer to the HDB Website(s) for official information on the terms and conditions of the Extension of Stay. Do also note that the Property Tax levied during the Extension of Stay will also be different.
In order for Sellers to apply for an Extension of Stay during the upload of the Resale Application, it is required to provide an address of the next property that the Sellers have purchased.
If the Sellers have purchased a BUC (Building Under Construction), or New Launch Condo/New Launch EC unit which has yet to TOP, the address of the new unit may not have been registered yet. This means that when the Sellers are uploading the Resale Application, they may encounter an error and will not be able to apply for an Extension of Stay.
Hope the above was useful!
If you still need further assistance, drop us a note here.