For those still unaware of what the HDB Resale Portal is. This website facilitates pre-owned HDB flat transactions for buyers and sellers.
Have you reached your minimum occupation period on your HDB and are planning to sell it? If this is the case, the HDB resale portal is an excellent resource that can help you streamline the process. We'll look at the HDB resale portal, its features, and how you can use it to buy or sell a HDB resale flat in this article.
What exactly is the HDB Resale Portal?
The HDB resale portal is a digital platform launched by the Housing and Development Board (HDB) to facilitate the purchase and sale of HDB resale flats. From the submission of documents to the completion of the resale transaction, the portal allows buyers and sellers to transact online. The portal simplifies the process and eliminates the need for physical meetings and paperwork, saving buyers and sellers time and money.
The HDB Resale Portal's Features
The HDB resale portal includes several features that help buyers and sellers complete a resale transaction. These characteristics are as follows:
Checklist for HDB Resale
The portal offers a comprehensive HDB resale checklist to help buyers and sellers navigate the process of buying or selling a HDB resale flat. The checklist addresses everything from eligibility and financial calculations to document submission and transaction completion.
Financial Plan for Resale
Buyers and sellers can use the portal to generate a resale financial plan, which allows them to calculate the financial implications of their resale transaction. To provide a clear picture of the costs involved, the plan takes into account factors such as the purchase price, cash and CPF payments, and the resale levy (if applicable). It is crucial when upgrading from a HDB to a condo when you need to pay for the down payment for your next property.
Value Request Form
Buyers and sellers can use the portal to request a HDB valuation report, which estimates the market value of a resale flat. The report is required for buyers who are financing their purchase with CPF savings or for sellers who want to know the market value of their flat.
Document Submission Online
The portal allows buyers and sellers to submit their documents online, including the Option to Purchase, Resale Application, and Resale Checklist. This feature eliminates the need for in-person meetings and paperwork, saving buyers and sellers time and effort.
HDB Resale Portal Application
The HDB resale portal also has a mobile app for buyers and sellers to use while on the go. The app provides quick access to the portal's features, such as the resale financial plan, request for value, and online document submission.
How to Use It?
Buyers and sellers must first create an account on the HDB website before they can use the resale portal. They can access the portal's features once they have registered. Buyers and sellers must follow the HDB resale checklist, which guides them through the process step by step, to buy or sell a HDB resale flat on the portal.
The following is an overview of how the process works: (Seller edition)
If you intend to upgrade HDB to Condo in SG and require assistance throughout the process, consider hiring a professional agent such as JJ Wong. JJ Wong has years of experience and expertise in the field and can provide valuable insights and assistance throughout the selling process of your HDB flat. JJ Wong can help ensure a smooth and hassle-free selling experience by advising you on current market conditions and handling all necessary paperwork and negotiations.
Finally, the HDB resale portal is a valuable resource that can help to simplify the process of purchasing or selling a HDB resale flat. Hiring a professional agent like JJ Wong, on the other hand can gain you many insights on HDB upgraders roadmap he can provide additional benefits and help ensure a successful transaction. Contact JJ Wong today to find out more about how he can assist you with your HDB resale requirements
Are you planning to sell your property and need assistance with the paperwork or transaction?
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JJ Wong is the founder of MOPUpgraders.sg and has been a Property Wealth Planner in the real estate market for the past 6 years. He has helped many clients achieve their aspirations with the right financial planning and sound timeline planning. He is the man behind upgrading case studies of those who are holding on property under 10 years.