Key points in the Resale Checklist for Sellers – HDB resale flat for rent
HDB resale flat for rent – The Salesperson must go through this Resale Checklist with the sellers at least seven (7) days before the sellers grant an Option to Purchase to the buyers. There is a unique serial number on every Resale Checklist for Sellers that is downloaded from HDB’s website. The key points in the Resale Checklist for Sellers who engage Salesperson are as follows, HDB resale flat for rent.
Flat details and Salesperson details:
Signature of Salesperson:
Eligibility to Sell
- Sellers must meet the minimum occupation period before granting an Option to Purchase.
- Sellers must check that buyers comply with the Ethnic Integration Policy and Singapore Permanent Resident Quota Policy on the date of submission of Resale Application. HDB resale flat for rent.
Next Housing & Financial Plans
- Sellers have to discharge any outstanding mortgage loan and refund the CPF money used to pay for their flat plus accrued interest to their CPF accounts. (Sellers have to use the cash deposit received from buyers to reduce any shortfall in CPF refund if the sale proceeds are not enough.)
- Sellers must state their next accommodation under the Section: ‘Confirmation by Seller(s)’ (below).
- Sellers are not eligible to apply for HDB rental flats for thirty (30) months after the resale. After the thirty (30) months, they must comply with all the prevailing eligibility conditions to apply for a rental flat.
- Sellers who plan to buy another HDB flat have confirmed their eligibility to buy and eligibility for a housing loan from HDB/banks. If they are taking a second HDB housing loan , the loan amount will be reduced by the CPF balance/refund and half of the cash proceeds (including the cash deposit received) from the sale of their current or immediate past flat (they may keep the greater of $25,000 or half of the cash proceeds). HDB reserves the right to determine the amount of proceeds to be deducted in offering the housing loan.
- Sellers who are buying another flat must submit to HDB:
- statement on Estimated Sale Proceeds of current flat
- Financial Plan for purchase of next flat. HDB resale flat for rent.
HDB’s standard Option to Purchase
- Sellers can grant an Option only after at least seven (7) days from the date the Checklist is completed and signed. Sellers must also read and understand the Option to Purchase document.
Resale Levy / Upgrading Cost (if applicable)
- Sellers of a subsidised flat will have to pay a resale levy before they buy or take over the ownership of another subsidised flat.
- Sellers need to settle any outstanding upgrading cost/levy before completion of resale transaction
Resale Information
- Sellers are aware that making any false declaration, such as under-declaring or over-declaring resale price, entering into any supplementary agreement or cashback arrangement is illegal and punishable by law. HDB resale flat for rent.
Confirmation by Seller(s):
- Yes, my/our Salesperson (named above) has gone through all the items in this Checklist with me/us in _____(language) on _____(date/time). I/we will grant an Option to Purchase at least 7 days later, on/after _____(date). After the sale of my/our flat, I/we will be living at _____(address), owned/rented* by me/us/my/our relative(s) – _____(state relationship)/ friend(s)*. HDB resale flat for rent.
* Delete where not applicable
Signature of Sellers:
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