Thinking of buying an HDB resale flat? Here is a step-by-step guide covering everything from eligibility to key collection.
1. Check Your Eligibility
Before you start viewing flats, ensure you meet HDB eligibility criteria: citizenship requirements, family nucleus, income ceiling, and no previous property ownership.
2. Secure Your Financing
Get your HDB Loan Eligibility (HLE) letter or an In-Principle Approval (IPA) from a bank before you start searching.
3. Start Your Search
Browse listings, attend viewings, and compare prices. At Han & Lim Realty, we provide real transaction data to help you make informed offers.
4. Option to Purchase (OTP)
When you find the right flat, you will pay an option fee (typically -,000) to secure it. You have 21 days (for HDB) or 14 days (for resale) to exercise the OTP.
5. Submit Resale Application
Your agent will submit the HDB resale application. Both parties documents are required.
6. HDB Approval & Completion
HDB takes approximately 8-12 weeks to process. After approval, you complete the financial arrangements and collect your keys!
Need help? Contact Azac at +65 9096 6969.