A 10-Step Guide to Buying
A Resale HDB Flat
Updated May 2024
Following is a 10-step guide outlining the purchasing process to help you understand what to anticipate.
If you find yourself confused during your buying process , feel free to revisit this guide. Remember, stick to the fundamentals! 😊
Step 4. Secure Option to Purchase
Step 4. & Pay Option Fee
Step 5. Submit Request for Valuation
Step 6. Exercise OTP
Step 6. & Pay Option Exercise Fee
Step 7. Submit Resale Application to HDB
Step 8. Endorse Documents Online
Step 8. & Pay Downpayment
Step 9. Receive Resale Approval from HDB
Step 9. & Inspection of Flat
Step 10. Completion Appointment at HDB
Step 1: Apply for HDB Flat Eligibility (HFE) Letter
The application is done on the HDB website and the validity for the HFE letter is 90 days.
The HFE will state your eligibility for,
1) the purchase of a resale HDB flat,
2) HDB housing loan amount,
3) housing grants.
If you intend to take your home loan from a bank instead of HDB, please indicate so in the application and you will receive an In-Principal Approval (IPA) from the bank.
Step 2: Search, Shortlist, Go for Viewings
If you have engaged a real estate agent, he/she will locate suitable properties according to your criteria and schedule viewings for you.
If you are handling this independently, you can explore property listings on HDB Portal, online platforms such as Property Guru and 99.co, where only verified agents can list properties.
< Latest News > Sellers can list their flats on HDB Portal from 13May 2024
Step 4: Secure Option to Purchase & Pay Option Fee
It is a part of your purchase price and not something in addition to your purchase price.
Step 5: Submit Request for Valuation
Step 6: Exercise OTP
& Pay Option Exercise Fee
i.e. Option Fee + Option Exercise Fee ≤ $5,000
Step 7: Submit Resale Application to HDB
Step 8: Endorse Documents Online
& Pay Downpayment
Step 9: Receive Resale Approval from HDB & Inspection of Flat
Receive the resale approval from HDB and conduct a walk through of the flat to ensure everything is in accordance to the contract.
Step 10: Completion Appointment at HDB
Congratulations on your new home!