What is the procedure from applying for a mortgage loan until taking over the property key

The procedure from applying for a mortgage loan until taking over the property key involves several steps:

1. Mortgage Loan Application:
- Verify eligibility for an HDB loan or determine the amount of mortgage loan from a bank.
- Obtain a HDB Loan Eligibility (HLE) Letter from HDB or a Letter of Offer from the bank.
- Process the application to withdraw CPF savings for the purchase.
- Set aside CPF Ordinary Account (OA) amount for stamp duty, conveyancing fee, and Home Protection Scheme (HPS) premium (if any).

2. Financial Planning:
- Determine the amount of cash needed for the flat.
- Inform the buyer of the amount of stamp and conveyancing fees.
- Arrange for the use of GIRO for monthly installments.

3. Resale Application and Request for Value:
- Submit the resale application online.
- Request for the valuation of the property.

4. Buyer's Duties Before Completion:
- Inspect the resale flat to ensure vacant possession will be delivered.
- Pay the balance of the purchase price with Cashier's Order or NETS.
- Obtain a valid Certificate of Insurance for a Mortgage Fire Insurance policy if taking an HDB loan.

5. Completion of Resale:
- On the day of completion, the seller produces evidence of payment of S&CC and property tax.
- Both the seller and buyer sign the legal instruments.
- The seller hands over the keys to the buyer.
- The net sale proceeds are released to the seller, and the CPF refund is credited to the seller's CPF account within 7 days.

6. Final Steps:
- For bank loan cases, private solicitors arrange for the resale completion and hand-over of keys.
- The buyer takes over the property key and gains possession of the flat.