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HDB Buyer Timeline – Endorsing documents - PropertyWiki

Endorsing my documents.

ENDORSEMENT OF RESALE DOCUMENTS AND PAYMENTS

In processing a resale transaction with a housing loan from HDB, HDB will:

Agent Recommendation

(a)  Assess the eligibility of the sellers and buyers;

(b)  Process the buyer’s application for withdrawal of CPF savings;

(c)   Determine the amount of housing loan to be granted based on the HDB Loan Eligibility Letter and HDB’s housing loan policies;

(d)  Calculate the amount of stamp/registration and conveyancing fees payable by the buyers;

(e)  Determine the final payment of the purchase price (if any) with Cashier’s Order or NETS by the buyers on completion of the resale;

(f)   Obtain the buyer’s authorisation for HDB to act for them in the conveyancing (unless the buyers have engaged their own solicitors to act for them); and

(g)  Inform the buyers of the things they need to do to complete the resale transaction.

HDB will notify the buyers via SMS/email when the documents, which include financial calculations, forms and undertakings, are ready for endorsement, and post the progress update in the HDB Resale Portal.

The buyers must endorse in the HDB Resale Portal (or in any manner that HDB will decide) all the documents and make the necessary payments for the resale within the timeframe as requested by HDB.

The buyer’s spouse who is listed as an occupier in the resale flat application must also endorse the spouse consent/acknowledgement form in the HDB Resale Portal. If the seller’s or buyer’s spouse is not in Singapore or is residing overseas, and unable to endorse the form in the HDB Resale Portal, he or she will be required to sign the spouse consent/acknowledgement form in the presence of a Notary Public.

Buyers who have given a Power of Attorney for the sale or purchase will endorse the documents in the HDB Resale Portal.  Even with the Power of Attorney, the buyers (i.e. the Donors) are still required to personally endorse the application form for the sale or purchase and other declaration forms (or sign them if they are unable to access the HDB Resale Portal).

If HDB is acting for the buyers, the following caveat fees (plus a title search fee of $10.40) will be payable by the buyers:

(a)  $128.90 (if the buyers are taking a housing loan from HDB);

(b)  $64.45 (if no HDB loan is granted).

Payments will be via the payment modes provided in the HDB Resale Portal. Buyers who are unable to do the payment in the HDB Resale Portal can print the payment advice and make the payment at HDB Hub, Toa Payoh, within 3 days of the notice to pay.