Purchasing an HDB Resale Flat IV: The Process
Any Housing and Development Board (HDB) resale flat applications are required to be submitted online through HDB’s ResaleNet system or the e-Resale sytem. It is required for the buyers and sellers to send in their specific application portions separately. However, they have to submit their applications within a 7-day interval. HDB will then assess the resale flat application including the buyer’s capability to buy and the seller’s eligibility to sell. That is why everything must be carefully checked before sending in the resale application. They can process the application after the buyer exercises the Option to Purchase (OTP).
The ResaleNet system is only for those salespersons from estate agent that have subscribed to the service. The e-Resale is for those buyers who are not engaging the services of a sales person and for those sales persons who haven’t subscribed to the ResaleNet system.
It is important to attach the scanned Resale Checklist for Buyers (mentioned in Part III of this series) together with their HDB resale application. Here, the sellers will provide the serial number of the Resale Checklist for easy reference. In addition, both the buyer and the seller must pay a non-refundable administrative fee ranging from $117 to $127 for one and two room resale flats; and $170.50 to $186.55 for three room flats and larger.
The first party is the one who submits their portion of the HDB resale flat application – whether it be the seller or the buyer. Second party refers to those who submit their portion within seven days after the first party submitted their portion. The second party who submitted his portion of the resale application must be the one to book the First Appointment. The date of the First Appointment must be agreed on by the buyer and the seller. The status of the application can be viewed through their MyHDBPage.