Interested in selling your HDB flat? Familiarise yourself with HDB’s resale transaction process by first registering your intent to sell!
From 1 January 2018, HDB flat owners interested in selling their flats are to register an Intent to Sell. This replaces the pre-existing Resale Checklist.
An Intent to Sell is a formal notice to HDB that you wish to sell your HDB flat. Sellers should register their Intent to Sell before they put their flat on the market.
The Intent to Sell gives a preliminary assessment of the owner’s eligibility to sell. It also provides relevant information such as the Ethnic Integration Policy / Singapore Permanent Resident (EIP/SPR) Quota for the block and recent transacted prices of nearby flats to guide their selling decisions.
Only sellers are required to register an Intent to Sell. However, if you have a valid Resale Checklist (registered on or before 31 December 2017), you are not required to register an Intent to Sell.
If your HDB flat has more than one owner, only one of you will need to login to the HDB Resale Portal to register an Intent to Sell.
Note that salespersons are not allowed to register an Intent to Sell on the seller’s behalf.
Flat owners can check their eligibility to sell and register an Intent to Sell with HDB via the HDB Resale Portal. Note that they must use their SingPass to log in to the portal.
Apart from registering an Intent to Sell, flat sellers can submit their resale application, acknowledge resale documents and pay fees on the portal. Sellers can also check their resale approval from HDB and complete the resale process.
Firstly, the Intent to Sell is only valid for 12 months. If you do not submit your resale application within the 12 months, you will have to register another Intent to Sell.
Next, the Intent to Sell does not represent an approval from HDB for owners to sell their flats immediately. It is only an indication of their eligibility to sell. Flat owners’ eligibility to sell a flat is only determined when they submit the resale application.
Lastly, ensure that your details are accurate when registering the Intent to Sell. If the details submitted in your resale application are different from that indicated in the Intent to Sell, your application will be rejected.
After completing the Intent to Sell, you can download an Option to Purchase (OTP) from the Resale Portal and compute your estimated sale proceeds.
Take note! If you intend to sell an HDB Resale flat, you must register your Intent to Sell with HDB at least 7 days BEFORE you grant an OTP to a buyer.
Also, make sure that your buyer has registered their Intent to Buy before you grant them an OTP.
Looking for potential buyers? Check out the top three renovation features that can increase your home resale value!
Alternatively, use our ultimate homeowner checklist to ensure your flat can be sold at the best possible price!
