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Hdb Resale Process

A Comprehensive Guide For Hdb Owners

hdb resale process

With the lifting of restrictions, I am seeing more homeowners reaching out to explore their next phase of life – post COVID-19.

Well, perhaps more than 20,000 hdb units that will be reaching MOP in 2020 to 2022 could explain this surge in inquiries.

singaporepropertyagent

“It was a pleasure working with Rick throughout my selling and upgrading journey.
His recommendations and knowledge of financial calculations and preparations are impressive – even factoring in risk management specific to us, for the next 5 to 8 years.
He has shown his expertise in real estate and guided us step by step all the way, making transactions effortless for us.
Well done Rick!

Shawn

Buyer - Riverfront residences

Many homeowners looking to sell their existing HDB flat usually come to me with this common question: “What is the HDB resale process like?” or “How do I start selling my home?”

I have answered this question, What is the Hdb resale process, probably more than a hundred times during my course of work, I figured, why not answer this as a useful guide on the blog for all curious homeowners like yourself.

Table of Contents

HDB Resale Procedure 2022

I have summarised the Hdb resale procedure in 12 steps:

1) Calculate your finances

2) Decide whether to engage an agent or DIY

 

3) Register intent to sell

 

4) Market your unit

 

5) Arrange house viewings for interested buyers

 

6) Option to purchase (OTP)

 

7) Buyer request valuation

 

8) Buyer to exercise OTP

 

9) Submit HDB resale application

 

10) House inspection

 

11) Endorse resale documents

 

12) HDB resale confirmation and completion

Hdb resale transaction

hdb-resale-price

You may obtain an indicative selling price through HDB website, by sieving through similar unit types that were sold / transacted around your area.

 

OR

 

You may also use SRX x-value indication below as a guide.

 

Just key in your address and size of your unit, to get an indicative price.

Rick-Long-property-agent

Having used Rick to help me sell an apartment in the past, I had no hesitation in turning to him as my husband and I began to look for a new home. Rick was able to help us navigate the market as we came to terms with what our budget and chosen geographic area had to offer. As we narrowed our criteria Rick was able to direct us to apartments that fit our needs and then proved a superior negotiator in helping us get a great deal once we had made an offer. His guidance throughout the process was invaluable and he was always available to answer questions and help with the followup as we negotiated finances, legal terms and liaised with HDB. If I was ever to need the services of a realtor again I would not hesitate to call Rick and know that I could comfortably rely on his professionalism and efficiency to capably see me through either a purchase or a sale of my property.

Anthony & Sara

Buyer - Blk 293 Yishun

SRX x-value is only one of several ways I help my clients obtain an indicative valuation of their home.

hdb-prices-2022

Homeowners, do you know that know HDB prices have increased more than 17% past two years.

 

Chat with us for your available options now!

My Happy Clients

Mr Ang
Mr Ang
Buyer of Parc Riviera
Read More
As a investor interested in taking advantage of the booming property market in Singapore, I needed a realtor with in-depth knowledge of the local market. Using his understanding of the various sectors of the market, Rick generated a investment progression report and we decided to buy a condominium in a choice area with huge potential for multiple returns in the future. Thanks Rick, I will definitely be doing business with you for a long time!
Ms Claire
Ms Claire
Seller of Esparina Residences
Read More
I am writing in to compliment Rick Huang for his invaluable service, for the sale of my Esparina Residences. The process was complicated but he was able to empathize with my situation and also provide brilliant advices that ensue the smooth transaction. In all, I am appreciative with his professionalism and human touch in this journey. Thank you!
Ms Ho
Ms Ho
Seller of Blk 272b Punggol
Read More
I was sceptical about engaging a friend to sell our house. However, Rick has put himself out on so many levels just to ensure everything went smoothly, promptly and correctly at every stage. I trust Rick and would surely recommend him to anybody seeking to buy or sell a home! I do not usually post reviews but this is worth investing my time. Thanks once again..
Ms Malar
Ms Malar
Seller of Blk 332 Serangoon
Read More
His service is beyond my expectations. Always going the extra miles to serve his clients.
Ms Jo
Ms Jo
Buyer of Blk 452a Sengkang
Read More
My husband and I started our home-search by ourselves but was met with issues soon enough as we were unsure of the important things and areas to look out for and we were also not experienced in the negotiation process with the seller’s representing agent. Soon after hearing our problems, I was introduced to Rick by a friend. The entire buying process quickly became swift and smooth; Rick understands our needs, puts our personal interest first, seals us a good deal and educated us along the way about the important things and areas to pay attention to. Thumbs up to Rick and we will recommend him to anyone for their home-search
Mr Eddie
Mr Eddie
Seller of 127c Kim Tian
Read More
"In short, Rick did an amazing job. He sold our house at a higher than initially discussed price and got us a good deal for our purchase. Both my wife and I are impressed with his professional yet friendly approach. We will definitely work with him again and recommend him to anyone."
Mr Liew
Mr Liew
Seller of 260c Punggol
Read More
Rick is a very down to earth person. No hard sell or pushy technique. He helped us in planning for upgrade and showing us how to invest in property with in depth property analysis report.
Miss Chong
Miss Chong
Buyer of Regent Residences
Read More
His service is superb. With his property mkt analysis skill, I managed to purchase my first property in Singapore. He is always patient and helpful whenever I have any query about property purchase procedure, especially the computation part of the downpayment. In nutshell, I am really grateful and appreciate for his support.
Selvi
Selvi
Buyer of Blk 130 Bishan
Read More
Rick is an agent who has displayed his potential in his services. He provided us a very personalised guidance when we first approached him with an intention of purchasing a resale flat. With his knowledge and years of experience has made the entire purchasing process seamless. Thank you Rick for being a great friend and a fantastic agent!
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HDB Financial Calculator

Before you make such a huge financial commitment like buying and selling a house, the first and most important step is to calculate your finances.

You want to make sure the finances are done correctly – especially it’s a HDB contra case or upgrading to private property.

Most homeowners plan to use the resale cash proceeds to fund the new property purchase, but it is not such a straightforward calculation.

One simple example: the repayment of CPF accrued interest will eat into your cash proceeds.

 

Did not know that? Not to fear.

 

You can make sure you have the right calculations by using this simple HDB Selling Financial Calculator.

Still not confident of calculating it yourself? Reach out to me for a FREE Property Report

singapore-real-estate-agent

“Rick was introduced by a close friend of mine. This is my second time buying a flat (first time was 20 years ago) and I have forgotten all the procedure. With no experience dealing with selling and buying, this is my honest testimonial.
Rick is a very responsible agent which I’ve met so far.
Fast response to all my enquiries and he answered to all my doubts which I have.
Reliable and he knows exactly what to do and will give you his utmost advise and service.
I highly reckon Rick to those have the intention of getting property agent.
Thanks so much Rick for the help and assistance you have rendered from start until the end of transaction. I would definitely recommend you to my relatives and friends. Cheers

Ms Su

Seller of Blk 93 Paya Lebar

Engage a Property Agent or DIY

Once you are clear about your finances, the next step is to decide how you want to go about it.

 

Do you prefer to handle the entire process yourself or leave it to a professional?

 

Property agents can help you with the nitty-gritty and the complex parts of the process like:

  • Handling the complex paperwork processes

  • Marketing your unit right

  • Prepare comprehensive buyer presentation kit

  • Arranging house viewings

  • Negotiating with the buyer

If you are an experienced property owner who knows what you are doing or can put in the time to handle the various steps and procedures, then skip ahead.

However, if you are unfamiliar with the process, I would typically recommend having an agent to help guide you through the process.

Register Hdb Intent to Sell

Before you even begin to start marketing your HDB flat for sale, make sure that you register your Intent to Sell.

This is so that HDB can assess your eligibility to sell the flat and who is eligible to buy over your flat.

 

It is simple enough to register: Simply log in to the HDB Resale Portal and submit the relevant details. 

 

You can only officially issue the HDB option to purchase after 7 days of registration. 

 

Do note it is valid for 12 months, so you will need to re-apply should you not sell the flat within 12 months.

Marketing Your HDB for sale

Now it is time to promote your unit and find yourself a buyer.

 

With an increasingly saturated market where DIY property platforms list thousands of homes daily, it may seem like a daunting task.

Even property agents are increasingly challenged to come up with more effective ways to attract buyers.

My winning formula?

Check out my marketing strategies in 2022, Selling House In Singapore.

Arrange House Viewings

Once you have attracted potential buyers, the next step would be to arrange house viewings for them. 

 

COVID’s regulations may apply for the viewings of completed properties in person.

HDB Option to Purchase

Once you have an agreeable buyer who is happy with your sale price, you can grant them an official HDB Option to Purchase (OTP).

 

It is like a commitment from the buyer to you.

 

They will pay an Option fee in exchange for the OTP, which will be valid for 21 days during which they have to make a decision.

During this period, you cannot grant another OTP to another buyer.

Buyer Request Valuation

If the buyer is purchasing your flat with their CPF savings or housing loan, they will need to submit a Request for Value from HDB, after receiving your OTP.

Buyer to Exercise OTP

hdb selling price

Hurray! Your transaction is almost complete.

Submit HDB Resale Application

The next step is for both you and the buyer to submit your individual portions of a resale application document online at the HDB Resale Portal (within 7 days of either submission).

 

If you intend to apply for the Enhanced Contra Facility (ECF), you’ll need to indicate it in the resale application.

Hdb resale inspection

There will be a mandatory inspection joint inspection arranged by HDB to check for any illegal or structural defects in your unit after submitting the resale application.

Endorse Resale Documents

After submission of your application, HDB will prepare a series of forms and undertakings for both you and the buyer to endorse on the platform.

 

As well as requiring your payment for the administration fee for the process.

HDB Resale Confirmation and Completion Appointment

The very last step concludes with you receiving a confirmation letter by HDB and scheduling an appointment with HDB and the buyer for the completion appointment.

 

Sign on the documents, hand over the keys and you have completed the resale transaction!

HDB Resale timeline

hdb resale timeline

The chart above summarizes the HDB resale timeline.

 

The timeline from finding an interested buyer to Hdb completion is usually about 12 weeks.

Questions to ask yourself

What is the purpose of selling your flat?

 

Have you work out the pros and cons of buying or selling first?

 

Do you know that 73% of homeowners did not prep their house right for selling?

Conclusion

If you are looking to embark on this journey to change up your home to another HDB or upgrading to a private property, I hope this will be a useful guide for you to kick-start your process.

If you feel that it is best to speak with a professional agent first before starting on your property journey, or perhaps you would to gain access to my specialized skills set and strategies, feel free to reach out to me.

Bonus for my readers

property agent career change

A Warm Hello From Your Property Consultant

Hey, I’m Rick! A property consultant and your host for this one-time sharing session.

 

While I wholeheartedly admit that I hope to be engaged and be part of your property journey, I also need you to know that, like you…

I don’t like sales pitches and being forced into selling and buying

 

I am looking forward to working with down to earth people

 

Looking forward to a happy property journey

Applying is simple!

  1. Click the SCHEDULE button

  2. Allow me 30min of your time

  3. To go from having questions in your mind to understanding the options available

Property agent review - What my clients say about me

Mr Ang
Mr Ang
Buyer of Parc Riviera
Read More
As a investor interested in taking advantage of the booming property market in Singapore, I needed a realtor with in-depth knowledge of the local market. Using his understanding of the various sectors of the market, Rick generated a investment progression report and we decided to buy a condominium in a choice area with huge potential for multiple returns in the future. Thanks Rick, I will definitely be doing business with you for a long time!
Ms Claire
Ms Claire
Seller of Esparina Residences
Read More
I am writing in to compliment Rick Huang for his invaluable service, for the sale of my Esparina Residences. The process was complicated but he was able to empathize with my situation and also provide brilliant advices that ensue the smooth transaction. In all, I am appreciative with his professionalism and human touch in this journey. Thank you!
Ms Ho
Ms Ho
Seller of Blk 272b Punggol
Read More
I was sceptical about engaging a friend to sell our house. However, Rick has put himself out on so many levels just to ensure everything went smoothly, promptly and correctly at every stage. I trust Rick and would surely recommend him to anybody seeking to buy or sell a home! I do not usually post reviews but this is worth investing my time. Thanks once again..
Ms Malar
Ms Malar
Seller of Blk 332 Serangoon
Read More
His service is beyond my expectations. Always going the extra miles to serve his clients.
Ms Jo
Ms Jo
Buyer of Blk 452a Sengkang
Read More
My husband and I started our home-search by ourselves but was met with issues soon enough as we were unsure of the important things and areas to look out for and we were also not experienced in the negotiation process with the seller’s representing agent. Soon after hearing our problems, I was introduced to Rick by a friend. The entire buying process quickly became swift and smooth; Rick understands our needs, puts our personal interest first, seals us a good deal and educated us along the way about the important things and areas to pay attention to. Thumbs up to Rick and we will recommend him to anyone for their home-search
Mr Eddie
Mr Eddie
Seller of 127c Kim Tian
Read More
"In short, Rick did an amazing job. He sold our house at a higher than initially discussed price and got us a good deal for our purchase. Both my wife and I are impressed with his professional yet friendly approach. We will definitely work with him again and recommend him to anyone."
Mr Liew
Mr Liew
Seller of 260c Punggol
Read More
Rick is a very down to earth person. No hard sell or pushy technique. He helped us in planning for upgrade and showing us how to invest in property with in depth property analysis report.
Miss Chong
Miss Chong
Buyer of Regent Residences
Read More
His service is superb. With his property mkt analysis skill, I managed to purchase my first property in Singapore. He is always patient and helpful whenever I have any query about property purchase procedure, especially the computation part of the downpayment. In nutshell, I am really grateful and appreciate for his support.
Selvi
Selvi
Buyer of Blk 130 Bishan
Read More
Rick is an agent who has displayed his potential in his services. He provided us a very personalised guidance when we first approached him with an intention of purchasing a resale flat. With his knowledge and years of experience has made the entire purchasing process seamless. Thank you Rick for being a great friend and a fantastic agent!
Mr Mark
Mr Mark
Seller of Blk 686a Woodlands
Read More
Rick service has a very personal touch. He was extremely patient and professional and does not rush us into making any decisions he provided us with sound advice whenever we have questions and was always ready to provide help with regards to any matter. What impress us the most was the extra step he went by assisting us with the purchase of our new home, even though this was in no way his responsibility to do so. Thank you for the hassle free experience Rick. Highly recommended
Mr Shawn
Mr Shawn
Buyer of Riverfront Residences
Read More
"It was a pleasure working with Rick throughout my selling and upgrading journey. His recommendations and knowledge of financial calculations and preparations are impressive - even factoring in risk management specific to us, for the next 5 to 8 years. He has shown his expertise in real estate and guided us step by step all the way, making transactions effortless for us. Well done Rick!
Ms Shufen
Ms Shufen
Buyer of Cairnhill Crest
Read More
Rick has been our go-to agent for our past few property transactions He actually patiently brought us to many various property viewings (I think it was more than 10!) before we finally settled on the Cairnhill unit. Rick also helped us iron out all the issues encountered along the way and we are very thankful for his service. Hence, we will continue to engage Rick for all our property related matters. We have encountered many agents throughout the years but Rick is the one that has the most profound display of professionalism, knowledge and dedication in his job. Please keep up the good work!"
Ms Meena
Ms Meena
Seller of Blk 475c Upper Serangoon
Read More
Rick's guidance really helps us to sell our unit at a good rate. He did a excellent job giving us professional assistance from step by step till the keys are handed over to the new owner.
Mr Kingsley
Mr Kingsley
Seller of Blk 91 Tanglin
Read More
We have worked with a few property agents. We find the interests of the agent are not well aligned with either the buyers or sellers as volume of transactions matter more. With Rick, you can be assured that your interests are well protected at all times. It is reassuring that he shares his opnion objectively to allow home buyers or home seekers to evaluate the decisions for themselves. Overall a smooth experience. Thanks Rick!
Ms Su
Ms Su
Seller of Blk 93 Paya Lebar Way
Read More
"Rick was introduced by a close friend of mine. This is my second time buying a flat (first time was 20 years ago) and I have forgotten all the procedure. With no experience dealing with selling and buying, this is my honest testimonial. Rick is a very responsible agent which I've met so far. Fast response to all my enquiries and he answered to all my doubts which I have. Reliable and he knows exactly what to do and will give you his utmost advise and service. I highly reckon Rick to those have the intention of getting property agent. Thanks so much Rick for the help and assistance you have rendered from start until the end of transaction. I would definitely recommend you to my relatives and friends. Cheers
Shah
Shah
Seller of Blk 227a Compassvale
Read More
My wife and I are grateful that a friend of ours referred us to Rick to help sell our unit. Rick responded fast to all of our queries. In fact, we managed to sell off the unit faster than we expected thanks to Rick. He did not even need to resort to cheesy gimmicks and marketing. The journey was kept professional. Despite the toxic culture of the property industry, we can feel that he is sincere and committed in helping us. He is trustworthy and we felt that we were in safe hands with Rick as our agent.
Ms Sharon
Ms Sharon
Seller of Blk 648 Ang Mo Kio
Read More
I had in the past dealt with agents who were pushy and did not do their homework. But with Rick, I am put at ease with someone who is not only very knowledgeable but understanding. He keeps my family posted on what we need to know, is very diplomatic, tactful and professional. If you need your place sold, you need a reliable person like Rick to help you. Thanks Rick once again. Warmest Regards, Sharon Lim
Mr Sri
Mr Sri
Buyer of River Isles
Read More
Rick was introduced to me by a friend, who has seen Rick while he was helping another client. Rick has played an exceptional role while I was buying a private property. He is patient, humble, polite and a nice human being. I highly recommend him if you are looking for an agent in your property hunting. I worked with several agents but he will be my go to agent for any future deals. It was excellent experience..!
Anthony & Sara
Anthony & Sara
Buyer of Yishun
Read More
Having used Rick to help me sell an apartment in the past, I had no hesitation in turning to him as my husband and I began to look for a new home. Rick was able to help us navigate the market as we came to terms with what our budget and chosen geographic area had to offer. As we narrowed our criteria Rick was able to direct us to apartments that fit our needs and then proved a superior negotiator in helping us get a great deal once we had made an offer. His guidance throughout the process was invaluable and he was always available to answer questions and help with the followup as we negotiated finances, legal terms and liaised with HDB. If I was ever to need the services of a realtor again I would not hesitate to call Rick and know that I could comfortably rely on his professionalism and efficiency to capably see me through either a purchase or a sale of my property.
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Self Introduction

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Rick Long, Associate Division Director of Huttons Asia Pte Ltd, has been in the Real Estate industry for more than a decade.

He is driven, committed and is enthusiastic about real estate investments.

Today, he leads Team Youhome.sg, and together, he aims to provide his clients with the best experience in their property journey.

Well-equipped with expertise in residential properties, Rick often impressed his clients with knowledge of market trends, advising on timelines, financial calculations and best options for his clients.

 

Amidst the hustle and bustle, Rick enjoys quiet time and indulges himself in the intricate art of tea-brewing and teapot appreciation.

He would also take this chance to energize himself and reflect on his personal development and areas of improvement.

He is also a proud fur daddy to 2 rescue kitties and loves spending his free time with his wife and furbabies.

Related Articles:

Ever wonder if you are suitable for Sell one buy two investment concept? – Read more (Sell one buy two)

Is buying new launch or resale condo have better returns? – Read more (New Launch vs Resale condo)

Looking to upgrade from Hdb to condo? – Read more (Sell Hdb buy condo)

What to take note when selling Hdb resale flat? – Read more (Hdb Resale Process)

Buying another Hdb flat, and using the fund from current home? – Read more (Hdb contra)

Why do some Hdb flat price depreciate so much? – Read more (Hdb depreciation curve)

What is one of the most common reason for property negative sales? – Read more (Cpf accrued interest)

Financial calculation for selling a Hdb flat? – Read more (Hdb resale calculator)

Buying EC before selling your HDB? – Read more (Upgrade to EC before selling your HDB)

Should you sell your EC after 5 years? – Read more (Selling EC)

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