We are pleased to share with you the improvements that we have made to the HDB resale procedure. This will make the experience of buying a resale flat even more pleasant.

 

From 2 Jun 2015, buyers who attend their resale first appointment and need to pay the 10% of the resale price or stamp fees in cash, can now make these payments on the day of resale completion. The conveyancing fees, title search and caveat fees remain payable on the day of resale first appointment.

 

With this enhancement, buyers no longer need to make another trip to the HDB for the payment of 10% of the resale price or stamp fees, which previously need to be made within 10 days from the resale first appointment.

 

In addition, as part of the initiatives to move towards cashless payments, the payment of the balance purchase price and stamp fees in cash must be made by cashier’s order or NETS.

 

The changes are summarized in the table below.

 

Payments	Current procedure	Revised Procedure	Current Mode of Payment	Revised Mode of Payment
Conveyancing fees Title search fees Caveat fees	Pay on the day of resale first appointment	No change	Cash, cashier’s order, NETS or cheques	Cashier’s order or NETS
10% of resale price Stamp fees (if CPF monies is insufficient)	Pay within 10 days from the resale first appointment	Pay on the day of resale completion
Additional Buyer Stamp Duty (ABSD)	Pay within 10 days from the resale first appointment	No change
Cash on completion	Pay on the day of resale completion	No change

 

Salespersons may refer to the HDB InfoWEB for more details on the changes in Financing and Resale Procedures mentioned above.

 

Please disseminate the information to your salespersons.