Can I Buy a HDB Resale Flat

1. Statutory Requirement
   1. Who Can buy (Citizenship & PRs) & Under What Scheme?
      • Public Scheme
      • Fiance Fiancee Scheme
      • Orphans Scheme
      • Single Singapore Citizen Scheme
      • Joint Singles Scheme
      • Citizen/SPR Siblings Scheme
      • Non-Citizen Family Scheme
      • Non-Citizen Spouse Scheme
   2. To check if the flat you intended to buy is affected by Ethnic Intergration Policy
   3. What is the required minimum age?
   4. What can you buy?
      
2. Financial Planning (Ask Your LandPLUS Agent)
   1. Selection between HDB Home Loan Vs Private Banks.
   2. Eligible loan quantum
   3. How much is your Monthly Instalment?
   4. For How Long you have to pay?
   5. How much cash do you need for 1st appointment
   6. How much cash do you need on completion
   7. How much is your stamp and legal fee and its payment schedule & method.
   8. Whether the flat is affected by Selective En-bloc Revelopment Scheme
      
3. Sellers’ Criteria
   1. Refer to Seller’s Step By Step Guide
      
4. Your Need Analysis
   1. Flat type / size
   2. Flat location
   3. Your Budget to buy
   4. Your budge to renovate
   5. Your future needs
      
5. Option To Purchase (OTP)
   1. The standard OTP provided by HDB must be used.
   2. All sellers must sign OTP and the resale application forms.
   3. The housing agent is required to sign as a witness if representing the buyer/seller.
   4. The cash deposit must not exceed S$5000-00
   5. The Agent representing the buyer/seller must execute a Statutory Declaration at HDB Hub.
   6. Submission of Duly completed Resale application can be submitted:
      • by post
      • in the designated deposit box
      • by ResaleNet
      • by e-Resale
   7. The buyer must subrmit the following together with the application form:
      • Photocopy of Identity Cards of all persons listed in the application.
      • Photocopy of birth certificates of all relevant persons listed in the application.
      • Latest payslips/income tax assessment forms (for those self-employed) of all employed person listed in the application.
      • Photocopy of passport and entry/re-entry permt, and lates visit pass (for Singqpore Permanent Residents/Non-citizens).
      • Photocopy of Marriage certificate, separation deed, divorce certificate, death certificate, whichever is applicable.
   8. If you are getting a HDB Housing Loan and eligible for it, you must also submit together with the Option to Purchase the followings:-
      • Obtain a valuation Report to support your application.
      • To attach the latest payslips or income tax assessment forms
      • To take up a fire insurance policy from HDB.
      • Must Purchase Mortgage Insurance if loan instalment is repaid using CPF

If you get a Housing Loan from Banks :-

2% to 10% cash downpayment from 1st January 2004 to 1st January 2008, if buyer who obtain a mortage loan from a bank or financial institution.


1. The Maximum loan quanum given by HDB is the lower of:-
   • 80% of the flat’s market value;or
   • 80% of the declared resale price.
     
2. The Loan given is subject to credit assessment based on:
   • Buyer age (maximum of 65 years); and
   • Monthly household income.
     
3. Loan calculation is based on :
   • Maximim repayment period.
   • Monthly instalment (40% of the buyers’ gross monthly household income)
   • Prevailing interest rate.