How to Sell Your HDB Flat Fast
Here at Home Property Agent, we recognise the difficulties associated with selling your HDB flat at the best possible price. We also understand that the selling process can be just as daunting as the buying process, with lots of intermediary steps involved and a fair bit of planning required.
But don’t let this intimidate you. Here’s everything you need for a successful sale.
Getting Started In Selling Your HDB Flat
How to sell your HDB flat? Simple. The best place to sell HDB flats with a fully guided process is the HDB resale portal. You’ll also need to consider all the costs of selling your HDB flat, including the agent commission, legal fees, stamp fees and processing fees required for selling your HDB flat.
Eligibility to Sell Your HDB Flat
You must be wondering, when can I sell my HDB flat? Well, before deciding to sell, it’s essential to take note of your eligibility. There are three key areas to look at –
- Meeting the Minimum Occupation Period (MOP) (i.e.) selling your HDB flat before the 5-year mark
- Compliance with the Ethnic Integration Policy and Singapore PR quota
- No outstanding Bankruptcy or Divorce issues
How Home Property Agent Can Help YOU
Our experienced, efficient and dedicated team will settle all HDB processing and administrative paperwork for you. This includes formalities like your intent to sell and buy, option to purchase, valuation, legal service engagements, resale document submission, and so on. Selling your fully paid HDB flat has never been so easy.
Simplify The Way You Sell Your HDB
You won’t have to be bogged down by these administrative processes. Enjoy a swift and easy transaction with us in a few simple steps. Contact us if you’re keen on selling your HDB flat anywhere in Singapore, including Jurong West, Choa Chu Kang, Bukit Panjang or Woodlands. Get in touch with Home Property Agent today to find out more about our services. We will advise you on the entire procedure and timeline first, then you can decide how you want to go about your selling and buying transaction.
1. What is the procedure to sell my HDB flat?
The general procedures for selling your HDB flat are as follows:
- Register Intent to Sell
- Exercise Option to Purchase
- Resale Application
- Resale Completion
You may refer to the details on the HDB Resale Portal.
2. How do I find out how much my HDB flat is worth?
The only way to find out how much your HDB flat is worth is through getting an HDB valuation. The buyer and seller must first agree on a selling price. The seller will then grant the buyer the Option to Purchase, and the buyer can submit a Request for Value to arrange for HDB-appointed valuers to inspect the flat. Alternatively, you may check the transacted prices for resale flats in the past 2 years.
3. What happens if HDB valuation is lower than offer?
If the HDB valuation is lower than the offer, the buyer must pay Cash Over Valuation (COV) upfront in cash. COV refers to the difference between the sale price of the flat and its actual valuation by HDB.
4. Can I sell my HDB flat before 5 years of occupancy?
No, you cannot sell your HDB flat before the Minimum Occupancy Period (MOP) of five years. During this period, you cannot sell or rent out your property. However, under special circumstances like divorce or financial trouble, you may appeal to sell your HDB flat before the MOP is up, subject to HDB’s approval. If you need the best strategy and advice to appeal to HDB for early approval, please contact Home Property Agent.
5. What are some additional costs and fees that I may have to pay when I sell my HDB flat?
When you sell your HDB flat, you may have to pay the following costs and fees:
- Resale application administrative fees
- Seller’s Stamp Duty
- Property tax
- Legal fees
- Service & conservancy charges
You are fully protected by our 100% Satisfaction-Guarantee! We only charge agent fees if we have successfully helped you sell or buy your HDB flat (only with your permission and agreement to the offer made by the buyer!) If we are unable to sell your HDB flat within 1 month, let us know and we will do our best to correct it! If you are still not satisfied then, you can terminate our services at no cost.
Start selling/buying your HDB flat with us today!