Knowing the legal process
Before starting the process to sell your property, it is important for you to know your rights and obligations. The Option to Purchase and the Sale and Purchase Agreement are two typical documents used for property transactions. You can read more about these from The Law Society of Singapore website (click here).

If in doubt, you should retain the services of a conveyancing lawyer for advice. A list of conveyancing lawyers can be found in The Law Society of Singapore website.

Planning your financials
It is also advisable to work out the sums to determine the moneys involved.

If you have used CPF to finance your purchase, you may want to find out the amount which you have to put back into your CPF account. To find out more, please visit the following CPF websites:

CPF Housing site

CPF Handbook on Residential Property Scheme

If you have financed your purchase using a bank loan, you may wish to find out from your bank the amount which you have to pay the bank once you redeem the loan, including any penalties for redeeming the loan early, penalties for legal fee subsidies given to you, etc.

Knowing the restrictions on foreigners and HDB flat owners
Before you enter into a contract with any party, you may want to note the restrictions imposed on certain groups of purchasers, namely the foreigners and HDB flat owners.

If a person is not a Singapore Citizen, he/she can only buy a non-landed development in Singapore (except Sentosa). Otherwise, he/she will need the approval of the Controller of Residential Properties before making the purchase.

If a person currently owns an HDB flat, he/she will need to fulfill some HDB conditions before they can buy a residential property. To find out about HDB's restrictions on the purchase of private residential properties by HDB flat owners, click here and read the section on "Investing in Private Properties".

Property Prices
To help you gauge reasonable prices to fix to sell your properties, you can find the prices of transacted properties over the past 12 months from URA's website. (Click here)

You can also obtain transacted prices of properties via another website provided by the Singapore Institute of Surveyors and Valuers. (Click here)

Please note that the information on both websites may differ slightly due to different updating process and timing of updates.

Property Portal to market your flat or search for flat listing
If you are thinking of selling your private property, you may want to place advertisements in the classified pages of the newspapers or at property portals available in the Internet that provide 'Electronic Classified Ads' services. Buyers who intend to buy private properties from the open market can search for property listing via these channels.

Below are links to a property portal (www.nationproperty.com.sg) by the Singapore Institute of Surveyors and Valuers (SISV). SISV is the national body representing professional surveyors, valuers, property managers and real estate agents in Singapore.

Search facility(private apartments) to view listing of private apartments for sale posted in the SISV property portal.

Search facility(landed properties) to view listing of landed properties for sale posted in the SISV property portal.

Register Online to list your private properties for sale in the SISV property portal.

Modify Posting to modify the information you have posted in the SISV property portal.

Engaging an agent
You are free to market properties on your own or engage a housing agent to help you sell your property.

If you engage an agent, you may want to put in writing the scope of services provided, the fees payable, etc which are all negotiable. There is no regulatory requirement for fees payable to agents or standard terms.

FAQ

Q : After selling my private property, can I immediately apply for an HDB flat?

A : After selling your private property, you will have to wait for a 30-month period before you are allowed to apply for a new HDB flat or to buy a resale flat under the CPF Housing Grant Scheme, subject to meeting other prevailing eligibility conditions.

Private property owners are allowed to buy a resale HDB flat (without housing grant) from the open market, on the condition that they must stay in the resale HDB flat.