Easier and Faster Resale Transactions with New HDB Resale Portal
HDB today announced the introduction of a new HDB Resale Portal that will guide flat buyers and sellers through their resale transaction, making the process of buying and selling an HDB resale flat easier and faster.
The move is part of HDB’s efforts to streamline its resale process, with the aim of significantly reducing transaction time, and providing added convenience to flat buyers and sellers, as announced at MND’s Committee of Supply debate in March 2017.
The HDB Resale Portal will be launched on 1 January 2018. The streamlined resale process will apply to resale applications where the Option to Purchase (OTP) is granted by flat sellers on or after 1 January 2018. Flat buyers and sellers will have to use a new HDB-prescribed OTP form from this date.
The current OTP form will be valid until 31 December 2017. Resale applications with OTPs granted before 1 January 2018 using the current OTP form, will continue to be processed under the current procedures. Such resale applications must be submitted by 31 March 2018. Property agents can continue to submit resale applications for their clients via the e-Resale e-Service or Estate Agent Toolkit (for agencies which are subscribers).
The details are in this link to the Press Release.