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Resale Matters - Notes to Salespersons
We have prepared some Frequently Asked Questions (FAQs) to facilitate salespersons in guiding their clients on the HDB resale process. The FAQs are in the Annex below.
We would also like to share with salespersons some recent developments in the processing of resale applications:
a) We have implemented a new Quick Response (QR) code payment system for payment of the resale application Administrative fee, Processing fee for Request for Value, Caveat fee, Conveyancing fee, Stamp and Registration fee, Survey fee, and Title Search fee. Flat buyers and sellers can easily and conveniently select the QR code payment option and scan the code using any of the approved banking apps. Unlike credit cards, they do not need to go through the hassle of keying in their credit card/ bank account details for each transaction. Please see attached illustrations:
b) For resale applications received from 28 August 2018, buyers who are taking an HDB housing loan have the option of retaining up to $20,000 in their CPF Ordinary Account (OA). Previously, flat buyers had to fully utilise the balances in their CPF OA before they took up an HDB housing loan. This option will provide the buyers with greater flexibility in using their CPF funds. The funds can be used for their monthly mortgage instalments and will improve retirement adequacy, if left unutilised. They can continue to draw down all their CPF OA balance for the flat purchase if they wish to. They will just have to indicate the amount they want to retain when they submit their resale application.
c) Under the Ethnic Integration Policy, the household ethnic classification is based on the buyer or the spouse, if any. At the point of flat purchase, mixed race households can choose their household ethnic classification based on either the buyer’s race or the spouse’s race. For example, a “Chinese-Malay” couple can choose to purchase under Chinese or Malay. The ethnic classification will remain the same when they subsequently sell the flat on the open market.
d) It is necessary for flat buyers and sellers to give the correct information to HDB. It is an offence under Section 60 of the Housing & Development Act for any person to give false information relating to the buying or selling of an HDB flat. Any person who gives false information shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000, or to imprisonment for a term not exceeding 6 months, or to both.
HDB also reserves the right to debar any person who makes a false statement from buying a flat^, taking over ownership of a flat^ by way of transfer, being included as an essential occupier of a flat^ or taking up an HDB housing loan for a period of 5 years from the date of cancellation of the resale application or the date of approval to compulsorily acquire the flat. Any existing application registered in the HDB’s rental waiting list will also be cancelled.
(^includes a unit to be bought under the Design, Build and Sell Scheme or the Executive Condominium Housing Scheme)
e) For buyers getting an HDB housing loan or applying for a CPF Housing Grant, the income assessment period has been reduced from 12 months to 6 months for self-employed persons, employed persons without monthly CPF contributions, part-time/ odd jobs/ commission-based workers. The period remains at 3 months for employed persons with monthly CPF contributions, and 12 months for those applying for the Additional CPF Housing Grant.
We are also aware of a WhatsApp message going around among salespersons stating that there is no need to use SingPass to login to the HDB Resale Portal to register an Intent to Sell. This is incorrect. All sellers and buyers who are Singapore Citizens or Singapore Permanent Residents need to use SingPass to login to the HDB Resale Portal. Only non-resident Administrators/ Executors who are not eligible to apply for SingPass, can login to the HDB Resale Portal without SingPass. This can be done via the ‘I am a non-resident Administrator/ Executor’ option to register the Intent to Sell. For those who may have inadvertently registered the Intent to Sell as a non-resident Administrator/ Executor, their Intent to Sell record will not be updated and they will not be able to proceed with subsequent submission of the resale application.
Please disseminate the information to your salespersons.
For optimal results, the following browsers should be used to access the HDB InfoWEB (www.hdb.gov.sg)/ HDB Resale Portal:
Internet Explorer 11
(Android) Google Chrome
(Apple iOS) Safari
All sellers, buyers and their spouse need to have a SingPass for the resale transaction. The SingPass is required when they login to the HDB Resale Portal for the various processes of selling or buying a flat.
For those who do not have a SingPass or have forgotten their SingPass password, they may apply for a new one or reset it via the SingPass website at www.singpass.gov.sg.
Spouse who are not eligible for a SingPass will have to contact HDB’s Customer Relations Manager to make an appointment to acknowledge the resale documents in person.
Sellers should register their Intent to sell before they start marketing their flat for sale. The Intent to Sell will provide a preliminary assessment of the sellers’ eligibility to sell the flat and receive information about the Ethnic Integration Policy/ Singapore Permanent Resident (EIP/SPR) Quota for their block, status of upgrading, billing of upgrading costs and recent transacted prices of nearby flats.
After registering the Intent to Sell, sellers will have to wait out a 7-day cooling-off period before they can grant buyers an Option to Purchase.
The Enhanced Contra Facility (ECF) is to facilitate the concurrent sale and purchase of resale flats. To make use of the scheme, applicants have to submit their applications for both transactions at the same time. They have to submit their request for the ECF in their flat applications. Both transactions will be completed on the same day.
To be eligible for the ECF:
- The applicants must NOT have an outstanding mortgage loan with a bank or financial institution for the flat they are selling.
- The applicants are not taking a mortgage loan from a bank or financial institution for the resale flat that they are buying.
- The applicants must appoint HDB to act for them in the sale and purchase of both flats.
The Temporary Extension of Stay is to help sellers to transit to their new homes after they sell their flat. The buyers must agree to allow the sellers to stay temporarily in the flat after the transaction is completed. The buyers must make the request when they submit the resale application and pay a non-refundable administrative fee of $20 (inclusive of GST).
To be eligible for the Temporary Extension of Stay :
- Sellers must have committed (i.e. exercised Option to Purchase or signed Sale and Purchase Agreement) to buy a residential property (HDB flat or private property) in Singapore that is completed and ready for occupation.
- Sellers must not be renting out their flat when the resale application is submitted.
(a) The temporary Extension of stay is for a period of up to 3 months only.
(b) The sellers and buyers have to negotiate and agree on the rental, if any.
(c) The sellers have to inform HDB’s Branch when they vacate the flat.
(d) During the period of the Temporary Extension of Stay, the buyers, who is the flat owner, will have to pay the service and conservancy charges (S&CC) and will not be eligible for any rebates. They will also pay the property tax based on the residential tax rate and not the owner-occupier tax rate.
As the date given in the acceptance letter is already the earliest possible date to complete the transaction, it would not be possible to advance the completion date.
Nevertheless, if the sellers and buyers would like to defer the completion, please send a written confirmation signed by both the sellers and buyers agreeing to the new date to us at email@example.com, within a week from the date of the HDB’s acceptance letter.
The inspection will be scheduled 5 working days after the application is accepted. If sellers wish to change the appointment, they would have to contact HDB’s Branch Service Line at 1800-225-5432.
The purpose of the inspection is for HDB to check whether there are any unauthorised renovation works done to the flat.
The windows will also be checked to see if they comply with the Building & Construction Authority’s requirements.
If the family member is a Singapore citizen or Singapore permanent resident, he/she can apply for a SingPass via the SingPass website at www.singpass.gov.sg (there is a SingPass service link on the login page of the HDB Resale Portal).
If the family member is a non-resident, he/ she may sign the documents in person at our office. Please contact our Customer Relations Manager to make an appointment.
The sellers or buyers need to make the payment once they have endorsed the resale documents. The payment can be made using credit card (VISA or Mastercard) or NETS QR payment*. Payment must be made before we can approve the resale transaction.
*The mobile apps that support NETS QR payment are NETSPay, DBS PayLah!, DBS digibank, POSB digibank, OCBC Pay Anyone and UOB Mighty.
All buyers who are buying the resale flat under the Fiance/Fiancee scheme must solemnise their marriage within 3 months after the resale completion. This is regardless whether they are applying for the CPF Housing Grant and/or the Proximity Housing Grant.
If their marriage is registered in Singapore, they need not submit a copy of their marriage certificate to HDB.
If their marriage is not registered in Singapore, they would have to submit a copy of their marriage certificate to their HDB Branch.
Buyers have to do the following to prepare for the resale completion:
(a) Arrange to inspect the flat to make sure the sellers have vacated the flat before the completion.
(b) Buy the fire insurance, if they are taking an HDB housing loan. They can do it online at http://etiqa.com.sg/hdbfire.
(c) Pay the balance purchase price of the flat and outstanding fees, if any, in full. They can print a copy of the payment advice from the HDB Resale Portal and use it to make payment (by Cashier’s Order and/ or NETS) at HDB’s Payment Office (HDB Hub Atrium Level 3). They will have to produce the receipt showing the payment of the amount in full before the completion can take place.
Buyers must bring the following when they attend the resale completion:
- Identity card of all buyers.
- Spouse’s passport and long term social visit pass/ work permit if the spouse is not a Singapore Citizen nor Singapore Permanent Resident.
- Receipt to show that the balance purchase price and outstanding fees, if any, have been paid in full.
- The Mortgage Fire Insurance Policy certificate if the buyers are taking an HDB housing loan.
Sellers have to do the following to prepare for the resale completion:
- Rectify any unauthorised renovation works in the flat and, if required, arrange for another inspection with the Branch before the resale completion.
- Terminate all GIRO arrangements for payments relating to the flat e.g. service and conservancy charges, property tax, Singapore Power, etc.
- Pay the service and conservancy (S&CC) charges up to the day of completion and get a confirmation from the Town Council.
- Pay the Property tax up to the end of the year.
- Vacate the flat and arrange for the buyers to inspect it before the resale completion.
Sellers must bring the followings when they attend the resale completion:
- Identity cards of all the sellers.
- Original Option to Purchase (Pages 1 to 10).
- BCA windows declaration form.
- Confirmation for payment of the service and conservancy charges and property tax.
- Original duplicate lease of the flat if it has been issued to the sellers.
- Full set of the keys to the flat, including the duplicates, if any.