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Chronological Guide for buyers. (HDB only)
1) Statute on public housing
- Eligibility of purchase (citizenship, PRs) & relevant scheme?
- Ethnic Integration Policy involved?
- Age criteria?
- Best purchase options?
2) Planning Finances
- Our professional realty personnel would assist you on your financial capability which will then determine your eligibility qualifications.
3) Your criterion
- Flat type / size
- Location
- Budget for purchase
- Budget for renovation
- Future needs
4) Option to Purchase (OTP)
- Standard OTP provided by HDB must be used.
- All sellers must sign OTP and resale application forms.
- Housing agent is required to sign as a witness when representing the buyer/seller.
- Cash deposit must not exceed S$5000.00
- Agent representing the buyer/seller must execute a Statutory Declaration at HDB Hub
- Completed Resale application must be submitted.
- Photocopy of Identity Cards, Birth Certificates, Passports/entry permit, Marriage Certificates, Separation deed, Divorce Cert, Death Cert and income tax forms/latest pay slips of all relevant persons must be submitted together with the application.
Eligible for a HDB Housing Loan? The following must be submitted with the OTP
1. A valuation Report to support your application.
2. Latest payslips or income tax assessment forms must be attached
3. A fire insurance policy from HDB must be taken up
4. Purchasing Mortgage Insurance is a must if loan installment is repaid using CPF
As the housing rules can change periodically, we would advise caution and to seek a more detailed information from our ever ready realty professionals. |
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