Question: For context, the unit we are purchasing is a vacant unit, hence we can make an arrangement for renovation early. How can I go about it?
Answer:
In the scenario of purchasing a vacant HDB unit and desiring an early renovation, a crucial step is to have both the buyer and seller sign a renovation indemnity form. This form serves multiple purposes:
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Renovation Permit Application: With the signed indemnity form, your Interior Designer (ID) can apply for the necessary permit to commence the renovation work.
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Seller's "Opt-Out": The indemnity form allows the seller to disassociate themselves from any potential damages caused during the renovation period. The buyer assumes responsibility for damages, if any.
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Damage Responsibility: If damages occur to HDB common property or neighboring units, the legal responsibility would still fall on the seller. However, the indemnity form designates the buyer as "responsible" for damages during the renovation.
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Common Practice: This process is quite common, as most buyers are cautious during renovations, knowing they are taking ownership of the flat. The indemnity form provides a clear understanding of responsibilities.
Additional Tips:
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Reno Agreement: To further safeguard your interests, consider obtaining a renovation agreement from your property agent and have the buyer sign it.
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HDB Inspection: Commence renovation only after completion of an inspection by HDB, addressing any non-compliance items.
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Communication: Discuss any non-compliance items with the seller, and ensure your contractor is on the HDB approved list.
Remember, the indemnity form is a crucial step in facilitating a smooth and responsible early renovation.
Question: What is the HDB Indemnity Form?
Answer: The HDB early renovation Indemnity Form is a legally-binding document required for homeowners intending to renovate their HDB flats. It acts as a letter of indemnity, holding the homeowner responsible for damages or losses during the renovation.
Question: Why is the HDB Indemnity Form Required?
Answer: The form is mandatory to safeguard HDB's interests and ensure accountability for damages during renovations. Failure to obtain and submit the form can lead to penalties and delays.
Summary:
- Obtain a signed renovation indemnity form for early renovation.
- Ensure HDB inspection completion before starting renovations.
- Discuss non-compliance items with the seller.
- Confirm your contractor is on the HDB approved list.
- The HDB Indemnity Form is a legal requirement for responsible renovations.
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