What are the steps to take note of when buying an HDB flat

HDB Resale Procedure

Register Intent to Buy

1. Register Intent to Buy on the HDB Resale Portal using SingPass.

Buying Process

2. Check eligibility to buy an HDB resale flat (must fall within approved family nucleus scheme).
3. Ensure sufficient funds (CPF, cash, housing loan) to buy a flat.
4. Verify eligibility for an HDB loan and obtain an HDB Loan Eligibility (HLE) Letter or get a bank loan and obtain a Letter of Offer (LO) from a bank/financial institution.
5. Meet the requirements of the Ethnic Integration Policy.
6. Check if the resale flat is affected by any Upgrading/Estate Renewal Programme (seller pays the upgrading cost).
7. Verify if there is any recess area fronting the flat.
8. Ensure sellers are selling the flat as owners or legal representatives and have met HDB's requirements to sell the flat.

After Registering Intent to Buy

9. Apply for an HDB Loan Eligibility (HLE) letter if intending to get a housing loan from HDB.
10. If not requiring an HDB loan or getting a loan from a financial institution, proceed to look for a suitable flat within budget and obtain an OTP from the sellers.
11. If getting a loan from a financial institution, have a valid Letter of Offer (LO) before exercising the OTP.

Finalise Buyer's Resale Financial Plan

12. Verify eligibility for HDB loan and determine the amount of mortgage loan that can be granted.
13. Process application to withdraw CPF savings for the purchase.
14. Set aside CPF Ordinary Account (OA) amount for payment of stamp duty, conveyancing fee, and Home Protection Scheme (HPS) premium (if any).
15. Determine the amount of cash needed to pay for the flat.
16. Inform buyer of the amount of stamp and conveyancing fees to be paid.
17. Arrange for use of GIRO for monthly instalments.

Procedure for Entering into a Binding Contract Using OTP (7 Steps)

18. Negotiate and agree on the price of the resale flat.
19. Sellers grant the OTP to the buyers (at least 7 days after Intent to Sell).
20. Fill in the Option to Purchase form with all required information.
21. Seller(s) sign the top half of the OTP form.