Buying A Resale Flat

Buying a new home is both a challenging and exciting time.

Whether it is a new or a resale HDB flat, a home purchase is a large financial transaction. When you are buying a resale flat, by planning ahead and understanding the process will help you avoid potential pitfalls.

You are advised to check whether:

* you and your family are eligible to buy an HDB resale flat;
* you are eligible for a HDB Loan and have applied for a HDB Loan Eligibility (HLE) letter from HDB (you should have a valid HLE before you exercise the Option to Purchase (OTP));
* you have to take a bank loan and have obtained a Letter of Offer from the bank/financial institution (you should have obtain the Letter of Offer before you exercise the OTP);
* you have a valid valuation report;
* the seller is the legal owner of the flat;
* the seller has met the Minimum Occupation Period; and
* the resale flat is affected by the Main Upgrading Programme or Lift Upgrading Programme and if the upgrading works have been completed. Please confirm with the respective Branch Office whether billing has been served as this will determine the party liable to pay for the upgrading cost.