7 Things You Should Know Before You Collect Your HDB Keys

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If you are anxiously waiting to collect the keys to your new abode anytime soon, but unsure what to expect, fret not! We have got you covered. In this article, let us share with you a couple of things which you should know before you head down for your key collection.

 

1. HDB will notify you via SMS when your unit is ready for key collection

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Once your new abode is ready, you will receive an SMS notification that your keys are ready for collection. 

 

2. Your key collection appointment letter can be printed from the HDB portal

Image from HDB

HDB has made it more convenient for homeowners to perform a wide range of e-services, without having to visit the branches. Hence, remember to get your SingPass ready before you can login to access your appointment letter. Make sure that you have read through the appointment letter and sign it prior the appointment.

Do you know?
Aside from the appointment letter, the following HDB documents can be viewed online:
1. Agreement for lease (for your loan eligibility) and;
2. Details of flat purchase payment.
In addition, you may also defer your key collection date online if you are unable to proceed with the original appointment date.

 

3. Bring the original copy of the documents on the appointment date

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The list of original documents you need to bring on the day of your appointment is as follows:
1. NRIC;
2. (Married couple) Marriage Certificate;
3. HDB Fire Insurance Certificate;
4. Signed HDB Appointment Letter;
5. (If you intend to use CPF to make the payment) Working SingPass;
6. (If you are paying by monthly loan instalments partially or fully by cash) Completed GIRO form; and
7. (If you are unable collect the keys in person) Power of Attorney (POA).

Do you know?
A Power of Attorney (POA) 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 POA.

 

4. Get your fire Insurance ready before your appointment

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You can purchase the fire insurance before your key collection appointment? Although you can also do so after your key collection, you should consider getting this done first to reduce the waiting time! Hop over here to find out more! Do note that eTiQa is no longer the appointed insurer for HDB Fire Insurance Scheme. FWD Singapore Pte Ltd is the current appointed insurer for the HDB Fire Insurance Scheme.

Do you know?
" Flat owners with HDB loans commencing on or after 1 September 1994 must buy and renew the HDB fire insurance for your homes, for as long as you have an outstanding HDB loan. The HDB fire insurance covers the cost of reinstating damaged internal structures, fixtures, as well as areas built and provided by HDB. It does not include home contents such as furniture, renovations and personal belongings." Extracted from HDB.

 

5. Balance payment must be paid in full prior the collection of the keys

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The balance purchase price and resale levy (if applicable) must be paid in full before the keys can be collected. For the collection of keys of the 2-room flexi flats (sold on 99-year or remaining lease) and bigger flats, the balance can be paid via cash, CPF savings, housing loan (if eligible), or a combination. For key collection of short-lease 2-room flexi flats, the balance purchase price and sales premium/ resale levy has to be paid in full before the key collection since housing loan is not allowed for the purchase of short-lease 2-room Flexi flats. As for resale flats, the resale levy for the purchase of a second subsidised flat, must be paid prior the key collection.

Do you know?
1. If you are selling your existing flat and taking an HDB housing loan for the flat purchase at the same time, you may request for a Contra Payment Facility. The Contra Payment Facility provides an additional loan on top of your housing loan, after all the available CPF OA savings balance is used for the flat purchase.
2. If you are not taking a housing loan, you may make use of the Temporary Loan Scheme (TLS) to pay for the flat purchase. Thereafter, you can redeem the temporary loan through the net proceeds from the sale of the existing flat. This request can be made during the submission of the resale application to sell your existing flat.

 

6. Stamp duty and legal fees need to be paid prior to the key collection

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During the collection of the keys to the new flat, you have to pay a survey fee, which is based on the flat type. In addition, you may also need to pay the registration fees for Lease In-Escrow and Mortgage In-Escrow and if you are taking a housing loan, stamp duty on the Deed of Assignment (calculated at 0.4% of the loan amount, subject to a maximum of $500).

 

7. Get your water and electricity ready before heading down your new abode

Image from SP

Lastly, if you intend to head down to your new flat on the same day of your key collection, then you should get your water and electrical utilities ready. This is a critical step especially as running water and electricity supply is required to carry out the defect inspection* properly. You can perform the application easily online at the Singapore Power (SP) group and book an appointment slot for the technician to activate the water and electricity supply on the premises. As for the gas, you may register with City Gas through their website.

Ever since the liberalisation of the electricity retail market in 2018, homeowners can choose their electricity retailer and price plan from other electrical retailers. Hence, you can consider choosing one of the cheapest electrical retailers and price plans in the market best meet your needs, or choose to remain with SP Group. You should complete this around 3 working days prior to your key collection appointment.

Do you know?
Running water and electricity is needed for the following defect checks:
1. Toilet bowl flushes properly;
2. Water drainage for the balcony, yard and bathroom is functioning properly and; 
3. Electrical points are working.