How To Sell HDB Resale Without Housing Agent

Searching and buying a property can be difficult, but selling a property is more difficult especially if you do not want to hire a real estate agent. Most people prefer to ask help from the professionals because it will be easier and faster. However, even though you decided to do the selling process all by yourself, selling your flat can also be done. If you want to save your money, below are the steps that you should follow to be able to sell your HDB flat successfully without the service of an agent.

1. Know your eligibility

One of the factors that are common when purchasing and selling an HDB is that you have to check your eligibility. Ask yourself how many years you lived in your flat before planning to sell it. There is a minimum occupation period that is insisted by the government to HDB flat owners that you must follow. Before being able to sell the flat, you must physically occupy it for the minimum time of five years. If you just purchase it three years before, then you do not have the eligibility to sell it. The counting period starts from the date you collected the keys of your flat. Even though you rent it out, the years will not be included on the counting of the minimum occupation period required.

2. Make a resale checklist

Submitting a resale checklist is one of the processes that you needed to follow whether you hired a real estate agent or you will do the whole process by yourself. Making the resale checklist is a process that you can do online and you needed to go through. You will need to provide the address where you will transfer once your flat will be sold. If your new address is also an HDB flat, you will be required to estimate the selling price of your flat to be able to have a financial plan for your new flat purchase. If you still do not have an idea on how much you are selling your flat, HDB website can provide you a list of HDB resale prices that can help you determine the selling price you can offer. After making and submitting the resale checklist, you can head into the next step.

3. List your HDB flat

In early years, people who are selling their HDB resales flats are having a hard time to market their property. It is because housing agents have more contacts and experience in selling properties. However, with modern technology, putting your HDB flat for sale online is easier than ever. There is several websites for property listing websites that you can sign up with and register. Most of these websites are free, which can make your selling process become faster. Many people can see your listing instantly and you just have to wait for them to make an inquiry regarding your ads. Just make sure that your flat is ready to be visited by potential buyers. Make sure that it is presentable to attract buyers. In addition, you also need to have the Option to Purchase once there is already a buyer.

4. Grant Option to Purchase

One of the difference when selling private property Singapore and selling HDB flat is that you will need to grant Option to Purchase for the latter. Remember that you can only grant one Option to Purchase at a time when you are selling an HDB resale flat. The Option to Purchase is only valid for 21 days and has the Option fee that can be negotiated between you as the seller and the willing buyer. The buyer has 21 days to decide whether he will purchase your flat or not. If he decided to purchase it, finalize all the process. On the other hand, if he chooses not to purchase it, then you can grant another Option to Purchase to other willing buyers and there is no need for you to give back the Option fee.

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