There is a lot that went down during a typical resale application process and this is something mandatory to go through when you’re purchasing a HDB in the resale market. With that being said I’d like to share some of the reasons why, what entities are involved and also what to look out for when it comes to HDB resale applications.
There are several government entities who are involved in this case, and as they are standalone government bodies by themselves, they are required to correspond with each other to get the paperwork settle for each and every resale application.
IRAS: for property tax
CPF: for transactions involving CPF monies
Town Council: payment for conversancy fees
So imagine the amount of work and hassle that actually went on in the backend to make sure that every property is transacted as seamless as possible!
After the submission, you’ll have to wait for the approval which can take up to 15 working days or maybe more. To which depends on the complexity of cases, such as having a buying or selling party who is above the age of 55 and need to reconfirm the status and requirement of the required sums of their CPF accounts.
Upon approval, you’ll need to head to the resale portal to do some endorsing of documents and to pay for admin charges. For sellers, HDB will conduct another round of inspection of your property.
For people who are selling do remember to head down to your town council to pay conservatory charges as it would also be a requirement during completion.
