Selling an HDB in Singapore, by yourself may be a daunting task to perform, but if you are well aware of the major steps involved in the procedure, the task of selling your HDB may become quite an easy task to perform. The article below describes, how easy may be the job of selling an HDB all by you, with every information and details being made available on the internet.
The seven simple steps easy guide will help you guide through the procedure of selling your HDB flat at a profitable price. Besides, you can also save the 2% commission that you might have spent as commission to the property agent involved in helping you sell your flat.
Seven steps to sell your HDB flat as an owner

Register via HDB resale portal
The first step to sell HDB flat in Singapore is, registering yourself to sell the property you own. It is an easy process that could be achieved through logging into the HDB resale portal and sending your application. Once you register yourself, you get informed about the ethnic integration policy (EIP) and Singapore permanent resident quota (SPR). The above official information will help you determine who are the buyers eligible to buy your flat and thus can take the required steps forward.
Put your flat for sale online
The immediate step followed after registering yourself is, to put up your flat for sale online. The housing development board will notify you whether you are eligible to sell the flat within a period of seven days from the date of submitting your property selling intent. The major benefit that you enjoy when you sell your flat by yourself without engaging a property dealer is that you get the complete freedom to make your decision. You can put up your HDB flat for sale on multiple websites to gain maximum buyers’ attention.

Grant the buyer OTP (option to purchase)
After you have taken the initial steps to sell your HDB flat, and also decided the selling price of the same, the next step would be to grant your buyer an official (OTP) option to purchase. What you need to do is just log in to the HDB resale portal and then download the (OTP) form and sign it. The buyer of your property would give you an option fee as you submit him the option to purchase form signed by you. An amount of $1000 is a minimum sum of money that you must charge from the buyer as a seller of the property, in order to ensure that the buyer is committed to buying the HDB flat.
After the option fee is paid by the buyer, a time period of maximum twenty-one days will be valid. The buyer needs to confirm his decision within this time period and arrange the remaining balance of the property cost. As a seller, you cannot offer an OTP to some other buyer within this time period.

Submit the application to resale your flat to HDB
The next step after the OTP contract is done is to submit the resale application to the housing development board online by both the seller and buyer within a time period of seven days, once either of the party that is seller o buyer has handed the property.
Make your resale documents approved by the HDB portal
After sending the resale papers for verification, the HDB will again check and evaluate whether both the buyer and seller are eligible to buy or sell the property if the resale conditions match the entire legal criterion, then only the HDB gives its final approval stamp.


Make an online payment of resale fees
You need to pay a resale fee of $40 for one to two room flat and $80 for three room or bigger flat unit.

Attend the appointment to HDB resale completion
The final step to sell HDB flat in Singapore is, waiting for the final approval letter. The letter is issued by HDB only after your property documents have been reviewed thoroughly and approved by the authority. Once you get the letter, you are free to make the final deal. An appointment is being scheduled by the HDB, that accommodate both the seller and the buyer at the same roof and lastly, you hand over the keys to the buyer.
Conclusion
To own an HDB flat for sale in Singapore is the desire of many residents of the country. For which, a number of property agents are available to assist both the buyers and sellers. But the service of agents will cost you a sum of 2% commission of the total property price. Hence you can exclude paying a commission and get the job done by you. The above-mentioned steps will assist you in the best possible manner on the way to selling your HDB flat in Singapore and get the best price for the property unit.
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