HDB resale procedure 2018: How to sell your HDB flat on your own

Selling HDB flat in Singapore
Reading Time: 9 minutes

Looking to sell your HDB flat on your own but completely clueless how to?

How to sell your HDB flat without an agent

Besides the admin paperwork you have to prepare, the #1 daunting question faced by first-time sellers would be, how do you even find potential buyers for your home?

Don’t fret.

After reading this article, you will know how incredibly easy it is to sell your home on your own with (almost) everything made accessible on the internet these days.

This comprehensive yet simple to follow-through guide will bring you through the HDB Resale Process in 8 simple steps, and save you that 2% commission fee!

Now you can start selling!

How to sell your resale HDB flat as a direct owner?

  1. Register your intent to sell via the HDB Resale Portal
  2. Put your flat up for sale online
  3. Grant your buyer the HDB Option to Purchase (OTP)
  4. Submit a resale application to HDB
  5. Endorse the resale documents via the HDB Resale Portal
  6. Pay resale fees online
  7. Attend your HDB resale completion appointment after receiving your approval letter  

Selling your HDB flat as a direct owner

Pre-sale Checks for homeowners

Minimum Occupancy Period (MOP)

Hang on… Before you even consider the sale, remember to do a pre-sale check. HDB flat owners need to fulfil a minimum occupancy period (MOP) of 5 years before selling your flat.

This period is calculated right from the day you collect the keys to your flat, excluding any period of non-occupancy, rental or infringement of flat lease.


Other factors for sale eligibility:

  1. Type of flat
  2. Purchase mode
  3. Date of flat application

Also, take a look at your Outstanding HDB Loans / Payments and Resale Levy information for fees that you might have incurred before you start the Resale Process.

Note: Perform a final check here for more details on eligibility! 

Register your intent to Sell

It doesn’t matter if there are joint owners, only one of you will need to register. To register, send in your application by logging into the HDB Resale Portal.

Once registered, you will be able to get more information about the Ethnic Integration Policy and see your flat’s Singapore Permanent Resident (EIP/SPR) Quota. This will help you to determine which buyers are eligible to buy your flat. You can check it here.  

Also, take note if your flat is affected by any Upgrading or Estate Renewal Programme as the owner of the flat will be liable to pay for upgrading costs.

If you prefer direct clarification, you can also visit your nearest HDB Branch.

Note: Agents are strictly not allowed to register for intent on the owners’ behalf! 

HDB Seller’s Quick Checklist

    • Meet the Minimum Occupation Period
    • Find an alternative home to shift to
    • Have adequate funds if you are purchasing another flat
    • Check any outstanding lease administration issues
    • Is your flat is affected by any Upgrading/Estate Renewal Programme?

  • Sell to eligible buyers in compliance with EIP/SPR Quota policies

 

Put your HDB flat up for sale online

HDB will notify you of your eligibility of sale within 7 days of your sale intent registration. If all goes well, you’re now ready to get a buyer!

When you sell without an agent, you will have all the freedom to make your own decisions. Put it up for sale on various online platforms such as Carousell or any other mediums you deem fit.

Carousell Property on Mobile

How to attract buyers with your HDB listing on Carousell

  1. Take shop-worthy photos

Pictures speak a thousand words so make sure to take the best ones of your home when you list it. 

To take a good picture of your home, you can learn some tips here!

  1. Price your flat fairly 

Now, in deciding the important question of how much you should sell your flat for, you can get a gauge from the latest HDB Median Resale Prices in your neighbourhood.

There are also several ways you can acquire a valuation of your home. For a more tailored and comprehensive home valuation, you can hire a professional Property Valuer from HDB.

As for the budget-friendly people who just want to get a rough gauge, you can try this automated tool.

With your photos checked and selling price decided, the last thing to do before attracting a sale is to craft a strong description! This will give potential buyers a good idea of everything your home and estate has to offer.

  1. How to write a convincing description

Lucky for you, if you’re using the Carousell App, you won’t have to type out every minute detail yourself in free text.

Once you’ve tapped on the “Sell” button, simply choose the “Property” category and follow the built-in fields to indicate the right attributes for your home.        

Describing your HDB listing on Carousell

You can include information like nearby amenities and tenure period.

If you’re super detailed, you can even mention the number of bathrooms and decor.

Details to include in your HDB listing on Carousell

Click, choose, and you’re on your way to creating a listing that tells potential buyers EXACTLY what you have to offer.

Description box on Carousell

Lastly, this description box is where you get to write free text. It’s up to your discretion how you want to describe the value-added features your place have to offer.

Here are some of the unique information you can include:

  1. Neighbourhood Offerings
  2. Nearby Amenities
  3. MRTs near you

Neighbourhood Offerings

Some users prefer to talk about unique neighbourhood offerings, such as “Awesome Wanton Mee just a 5 minute walk away!” Where else can you find such uniquely local info, right?

Nearby Amenities

How about the most popular wet market in your estate that sells the freshest fish in the vicinity? Let them know!

MRTs near you

Besides convenience, buyers might search for homes that are near specific MRTs to look for something near their parents. It’s normal, people want to qualify for the Proximity Housing Grant.

Searching for HDBs near MRT on Carousell

It’s good to mention other stations nearby too. 

Singapore is really small, and your home can be between 2 or even 3 train stations.

Your final listing will look something like this:

Example of a good HDB listing on Carousell

Selling a property on Carousell with your Desktop 

What if scrambling around with a tiny phone screen is not your thing?

Just switch to your desktop with Carousell Web at https://sg.carousell.com, and the sell button will be on the top left.

Carousell Property on Web

With Carousell Property, you can see the number of views on your listing.

If you’re getting a ton of views and no chats, there may be some critical information that you left out. Drop a message to our team if you need help!

Note: Purchase your residential floor plan from HDB here, it will definitely help you in selling your home! 

 

Grant your buyer the HDB Option to Purchase (OTP)

After agreeing on the sale price, the next step would be to grant him/her an official HDB Option-to-Purchase (OTP).

Log in to the HDB Resale Portal to download and print out the HDB Option-to-Purchase (OTP) form and sign it. 

Your buyer should pay you an Option Fee in exchange for your signed OTP.

We recommend $1000 as the Option Fee to ensure adequate commitment from the buyer.

Once you grant the HDB OTP, it will be valid for 21 days. The buyer has to confirm his/her decision. During this period, a second OTP cannot be granted to someone else.

Then, two scenarios might happen:

  1. If the buyer does not exercise the OTP before the deadline, you can keep the option fee.
  2. If the buyer exercises the OTP, he/she will proceed to pay you a deposit called the Option Exercise Fee before signing on the OTP Form.

Note: This amount is negotiable, but the total sum of the Option Exercise Fee and the Option Fee cannot exceed $5000. 

Summary of Option Fee & Option Exercise Fee:

Option Fee 1st deposit that your buyer pays you in exchange for your signed OTP form
Option Exercise Fee 2nd deposit that your buyer pays you when he exercises the OTP you granted
Note: Amount of both fees are up to the discretion of buyer and seller, but the sum of both cannot exceed S$5000

These fees will be reimbursed to the buyer via the downpayment of the flat or via CPF following a successful sale.

 

The HDB OTP form is the ONLY legal contract between you and your buyer.

The Housing and Development Act considers any third-party contracts/agreements invalid. So, make sure that you negotiate the terms clearly with your buyer. 

Good news, your transaction is now 80% completed!

 

Submit Resale application to HDB

The OTP contract is done and dusted!

Next, a resale application document should be submitted online to HDB by both the seller and buyer, within 7 days once either party has handed it in.

These are the documents you have to include in the application:

    1. OTP contract details
    2. Seller Particulars
    3. Buyer Particulars
    4. Existing loans with HDB / Financial Institutions

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  1. Declarations of Purchase

Also, you have to pay an admin fee for this process.

Type of Flat Resale Application Fee
1 or 2 Room $40
3 Room or Bigger $80

Endorse your Resale Documents via the HDB Resale Portal

After you send in the resale documents for verification, HDB will once again evaluate them to match resale conditions with buyer & seller eligibility before giving the final stamp of approval.

Attend HDB Resale Completion Appointment

The final document you will be waiting for is that precious approval letter after HDB reviews the documents you sent in for endorsement.

Once received, that’s the cue that you can seal the deal!

Schedule an appointment with HDB that accommodates both you, and the buyer. 

HDB Hub

Lastly, put pen to paper at the HDB Hub. Hand over the keys and complete your resale transaction!

HDB Hub

480 Lor 6 Toa Payoh
Singapore 310480
Mon-Fri: 8.30AM – 5PM
Sat: 8.30AM – 1PM
Sun: Closed

Note: Apply for Temporary Extension of Stay if you’re unable to move out immediately. View conditions here

Selling your HDB flat 

That’s really all to the direct home sale journey!

It may sound intimidating at first, but once you follow through with the steps above, you’ll realise that it’s no feat.

Considering your flat sells for S$500,000, an agent will cost you $10,000 to $20,000 based on the average commission fee (2 to 4%).

Why not park this money with a bank, make some investments or even spend it on the renovation? All you have to do is take some time to go through this guide, and I promise it will be worth it.

Enjoy the process, and we are confident that you will find a new owner to take over your precious home real soon.

Begin your direct home resale journey HERE, and remember to share this article to benefit your fellow peers looking to resell their HDB flats!

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