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Contrary to the processes involved to own a HDB flat, selling one is relatively much easier as illustrated below:
Eligibility Conditions
The eligibility conditions for selling a HDB flat are as follows:
- Fulfillment of Minimum Occupation Period (MOP)
Interested
sellers are required to fulfill the MOP, excluding period of
sub-letting of (whole) flat, in order to proceed with the sale of their
flats. This MOP is calculated based on the type of HDB flat you own and
the scheme under which you have previously employed to buy the said HDB
flat.
- Buyer Ethnic Eligibility
Based
on the HDB Ethnic Integration Policy, an interested seller must ensure
that the sale of his/her HDB flat will not disrupt the pre-determined
ethnic composition of the estate.
- Others
Sellers
must also consider other eligibility conditions (if applicable) which
includes full payment of service, conservancy charges and property tax,
producing duplicate lease/title deeds, ensuring that all renovations
are permitted by HDB, spouse consent, payment of resale levy/upgrading
levy/upgrading cost, delivering vacant possession of flat etc.
Option to Purchase
Once the eligibility conditions have been fulfilled and a buyer
identified, both the owner and the potential buyer must proceed to
formalize the deal with the Option to Purchase, as per HDB’s
requirements. Any other form of agreement will be deemed as null and
void under Singapore’s Housing and Development Act.
Resale Application
Upon formalization of the Option to Purchase, the potential buyer and
owner of the HDB flat may proceed with a Resale Application to HDB via
its e-Resale e-service or through recognized estate agencies under the
Singapore Accredited Estate Agencies (SAEA).
First Appointment
The owners and potential buyers of a HDB flat will then be required to
present themselves for a First Appointment at a HDB Resale Office for
purposes of examining both parties’ eligibility, effective resale date,
and other issues related to the sale of the flat. Unless either party
have appointed a validated third party (through the Power of Attorney)
to act on their behalf, it is essential for them to be physically
present in order for the sale to proceed any further.
Completion Appointment
If the First Appointment proceeds smoothly and all issues outstanding
are settled, both the buyer and seller will be called once again for a
Completion Appointment to seal the deal.
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