It is wise to plan the purchase of your flat to ensure that you have enough time to make the necessary preparations. You should plan keeping in mind the following:
Generally, a smooth resale transaction takes about 6 to 8 weeks to complete from the date of the first appointment.
The resale transaction timeframe depends on several factors:
- Eligibility of both buyers and sellers
- Mortgage Housing Loan obtained by buyers
- CPF Monies Withdrawal for buyers and refund for sellers
- Liaison with Solicitors (if applicable)
A Power of Attorney is a legal document that allows a person ("donor") to appoint another person ("attorney") to act on his behalf and in his name on matters specified in the Power of Attorney.
You need a Power of Attorney if you are unable to attend personally to matters relating to the buying your HDB flat. For instance, if you are going overseas. You are advised to obtain the Power of Attorney before you leave the country.
You are advised to consult a private solicitor to prepare the Power of Attorney. The Power of Attorney has to be prepared by your solicitor.
- The Power of Attorney has to be signed by you in the presence of your solicitor. If you are already overseas, you have to sign the Power of Attorney in the presence of a Notary Public, Singapore High Commission or Singapore Ambassador in the country of your stay.
- Your solicitor has to register the signed Power of Attorney with the High Court Registry.
- You have to submit two certified true copies of the Power of Attorney by a solicitor when you attend the resale first appointment for the sale/purchase of the HDB resale flat.
The Power of Attorney can help you attend the:
| Important Note
The Power of Attorney cannot be used for signing of any of the following:
- Application Form
- Statutory Declarations (you must sign in presence of a Commissioner of Oaths or Notary Public)
- Any undertakings
The above documents must personally be signed by you /all the buyers.
|