HDB Resale Flat TIME-LINE Discussion

Rxgn

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Hi gurus

I currently staying in BTO and want to get a resale HDB

just got my HLE and looking at resale flats around that range.

A) I would like to know if anyone has bought (without agent) and sell with agent?

B) How does the OTP work if I see a resale I like to buy? Does the HLE cover OTP?

C) I'm getting agents who are selling the resale flat telling me "are you ok with COV"? I assume this is COV after valuation? Any examples on how this is done?

Thanks in advance
A. U can 100% easily buy resale hdb without agent.. save 1% comm

B. Option to purchase. Once u view an unit and want to buy, place $1k deposit then you got 21 days to reconsider and do up bank loan or hdb loan. Before end of 21 days, pay them another $4k to exercise the otp.

C. During the 21 days, submit valuation to hdb. If you all agree price at 550k but after hdb valuation come out only 540k example.. u must pay this 10k cash.

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Bluehouse

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A. U can 100% easily buy resale hdb without agent.. save 1% comm

B. Option to purchase. Once u view an unit and want to buy, place $1k deposit then you got 21 days to reconsider and do up bank loan or hdb loan. Before end of 21 days, pay them another $4k to exercise the otp.

C. During the 21 days, submit valuation to hdb. If you all agree price at 550k but after hdb valuation come out only 540k example.. u must pay this 10k cash.

Sent from Samsung SM-A705MN using GAGT

For OTP $1k + $4k, this must be paid in cash only? I already got HDB loan which covers the entire amount of the resale HDB

Another question:

Once sold my existing BTO, does the funds return to HDB to settle outstanding loan ? And whichever profit is returned to me?

Or do I still need to service the entire new Housing Loan ( which I took before selling my BTO)?

Thanks!
 

Rxgn

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For OTP $1k + $4k, this must be paid in cash only? I already got HDB loan which covers the entire amount of the resale HDB

Another question:

Once sold my existing BTO, does the funds return to HDB to settle outstanding loan ? And whichever profit is returned to me?

Or do I still need to service the entire new Housing Loan ( which I took before selling my BTO)?

Thanks!
I will reply those i know is 100% correct

Otp yes 5k cash.

After sell, yes ,funds will repay outstanding loan. And will return to cpf for what u have used so far in cpf + accured interest. If got balance, you will receive cash in form of cashier order.

Your new loan will only start when you collect keys of the resale

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Bluehouse

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I will reply those i know is 100% correct

Otp yes 5k cash.

After sell, yes ,funds will repay outstanding loan. And will return to cpf for what u have used so far in cpf + accured interest. If got balance, you will receive cash in form of cashier order.

Your new loan will only start when you collect keys of the resale

Sent from Samsung SM-A705MN using GAGT

Thanks buddy

How about agents asking if comfortable with COV? Does this mean they will manipulate the selling price just for the owner to get COV?

I'm the buyer so obviously I'm hoping to match valuation
 

fujicolours

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Thanks buddy

How about agents asking if comfortable with COV? Does this mean they will manipulate the selling price just for the owner to get COV?

I'm the buyer so obviously I'm hoping to match valuation
It means that the agent knows that the asking price of the unit is above valuation based on past transacted price. So asking if you are comfortable with that.
 

ecAnonymous

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i am currently pending hdb acceptance of resale application. anyone knows if hdb were to request for additional documents will it be via email or hdb resale portal (e-document submission)?

just in case i miss the email lol
 

keithster

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i am currently pending hdb acceptance of resale application. anyone knows if hdb were to request for additional documents will it be via email or hdb resale portal (e-document submission)?

just in case i miss the email lol
Same like u, i am waiting for HDB to approve my resale application since last week. How long have you waited so far?
 

keithster

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hdb got back to me yesterday and accepted the application. so 10 working days total.
lol... so is really 10 working in exact. how they got back to you? sms right? did they ask for additional documents?
 

ecAnonymous

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lol... so is really 10 working in exact. how they got back to you? sms right? did they ask for additional documents?
ya exacting 10 working day lol. received notification by sms and email. didn't ask for additional documents from me.
 

donkips

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Sharing my Timeline as a first time DIY Buyer

Srx: 395K
UrbanZoom: 345K
Offered price: 380K

Signed OTP: 21 Feb
Option Fee: $300
Submitted valuation: 21 Feb
Valuation result: 24 Feb Matched. Pheww!
Exercise OTP: 2 Mar
Exercise Fee $700
Buyer submit application: 15 Mar
Seller submit application: 22 Mar
HDB request addtl docs from buyer: 23 Mar
HDB accept application: 01 Apr
Acknowledgment: TBA
Endorsement: TBA
HDB approval: TBA
Completion date: 27 May

Appeal for EHG: 24 Mar
Appeal acceptance : 01 Apr. Pheww!

When should we apply or pay for;
  • Conveyancing Fees (cash or CPF?)
  • Home Protection Scheme (HPS)
  • Fire insurance
 
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dreamer_toons

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1st time seller needs information about valuation.

Both parties signed the OTP on 29/3 and buyer submitted on the following day. I read from the posts here that some valuations take about 2 - 3 days.

As a seller, how do I know if there is a valuer assigned to do a valuation at my intended to sell flat? Will HDB call me to arrange the appointment?
 

donkips

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1st time seller needs information about valuation.

Both parties signed the OTP on 29/3 and buyer submitted on the following day. I read from the posts here that some valuations take about 2 - 3 days.

As a seller, how do I know if there is a valuer assigned to do a valuation at my intended to sell flat? Will HDB call me to arrange the appointment?
HDB will call seller or seller agent (whichever no is listed by buyer during valuation request) only if they intend to do a valuation visit. From what I know, if the selling price is somewhere around the last transacted price in the block/area, HDB wont bother coming and only buyer will received the valuation result within 2-3days as in my case. If you weren't expecting COV, you can check with buyer if valuation price matches or got COV within 4-5days if did not received any call from HDB.
 

dreamer_toons

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HDB will call seller or seller agent (whichever no is listed by buyer during valuation request) only if they intend to do a valuation visit. From what I know, if the selling price is somewhere around the last transacted price in the block/area, HDB wont bother coming and only buyer will received the valuation result within 2-3days as in my case. If you weren't expecting COV, you can check with buyer if valuation price matches or got COV within 4-5days if did not received any call from HDB.
Thanks for the info.

Since it is a long weekend tomorrow, probably I will need to wait till early next week to get a conformation from the buyer then.
 

Laneige

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For OTP $1k + $4k, this must be paid in cash only? I already got HDB loan which covers the entire amount of the resale HDB

Another question:

Once sold my existing BTO, does the funds return to HDB to settle outstanding loan ? And whichever profit is returned to me?

Or do I still need to service the entire new Housing Loan ( which I took before selling my BTO)?

Thanks!
U Shld check with hdb directly
Esp loan part if u want to go for cPf

as some sellers want to sell to move into another property etc, by giving the 1k n then starts to check ard is sabotaging the seller. Buyer that’s on their own Shld start to check with hdb and CPF for anything they r unsure of. Don’t put 1k then think abt loans (for others that’s reading)

otp is in cash or Cheque ba Best in cashier order or Cheque for black n white lo although 1k so little for ppl to play punk ba
If not wrong , once u sell hdb the money goes to clearing yr CPF loan, any extra after deducting ur CPF n accrued interest will be back to u However if u reach a certain age, there’s a chance money can be locked for RA or something. For this part best to enquire with CPF directly by logging in
 

fujicolours

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ya exacting 10 working day lol. received notification by sms and email. didn't ask for additional documents from me.
It took hdb 16 working days to accept my application. No additional documents were requested by them for that 16 days. Reason for long delay is because too many resale applications!
 

dreamer_toons

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Buyers and sellers submitted the documents yesterday. My agent told me it would be a 1 week wait to endorse the documents.

But seems that the wait is longer than that from the above posts o_O
 
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