Resale Checklist for Sellers – Property in Singapore for rent
Agents who are acting for sellers shall explain all items in the seller’s Resale Checklist to the sellers and tick all the boxes with both the agents & sellers to sign. Agents should go through the seller’s Resale Checklist as soon as the agents have met the sellers. Agents are to (1) state the language used to explain the checklist to their sellers & (2) state the address of their next housing. There is a unique serial number for each seller’s Resale Checklist. Property in Singapore for rent.
From 1st Nov 2010, all sellers of HDB flats, acting with or without housing agents, will have to observe a 7-day cooling-off period after they have signed the seller’s Resale Checklist before granting an Option to Purchase to the flat buyers. After they have completed and signed the Checklist, the sellers/agents are required to deposit the Checklist in the HDB Resale Checklist Repository by the following day. If there are financial calculations (Sales Proceeds and Financial Plan), the softcopies of the calculations are also required to be deposited together with the Resale Checklist. Property in Singapore for rent.
If the seller is buying another HDB flat (new/resale/DBSS) and taking a HDB loan, the seller/agent is required to work out the following and also submit them to the HDB Resale Checklist Repository:
(a) Estimated Sale Proceeds for current flat (can use sale proceeds calculator at HDB InfoWEB); and
(b) Financial Plan for next flat purchase (can use financial plan calculator at HDB InfoWEB).
If the seller is buying another HDB flat (new/resale/DBSS) and taking a bank loan, the seller/agent is required to work out the following and submit them to the HDB Resale Checklist Repository:
(a) Estimated Sale Proceeds for current flat (can use sale proceeds calculator at HDB InfoWEB); and
(b) Financial Plan for next flat purchase (can use financial plan calculator for bank loan such as HomeLoan from PowerSearch).
If the seller is not buying another HDB flat (new/resale/DBSS), the seller/agent should still do the estimated Sale Proceeds for current flat (can use sale proceeds calculator at HDB InfoWEB) but does not have do the Financial Plan for the next flat. In such a case, the seller/agent does not have to submit the estimated Sale Proceeds or the Financial Plan to the HDB Resale Checklist Repository. Property in Singapore for rent.
The original copy of the Resale Checklist and the Financial Plan (if any) which had been deposited in the Repository must be submitted to HDB on the First Appointment for verification.
Only the agent whom the buyers/sellers have engaged the services shall do the following:
- Fill up and witness the Resale Checklist;
- Witness the signing of OTP/ Resale Application Form; and
- Execute the Housing Agent’s Statutory Declaration.
All the above documents must be endorsed by the same agent.
If necessary, the seller/agent may refer to the translated sample copies of the Resale Checklists in 3 languages from the HDB website. Only the English version is to be submitted.
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