Sale of HDB Flats Flashcards

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1
Q

Eligibility of conditions for sale of HDB flats?

A

MOP 5 years
Ethnic Integration Policy
Singapore PR quota
Additional requirement required by Law

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2
Q

For non-malaysian SPRs, what is the SPR quota in neighbourhood?

A

5% in neighbourhood

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3
Q

For non-malaysian SPRs, what is the SPR quota in block?

A

8% in block

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4
Q

In the event owner is not able to attend to housing sales mater personally, what can they apply for in proxy?

A

Power of Attorney

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5
Q

What forms to be signed are excluded under POA?

A

1) Application form
2) Statutory declaration
3) Any forms of undertaking

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6
Q

What replaces the Resale checklist?

A

Registering Intent to sell

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7
Q

What is the maximum Option fee to be collected for HDB resale?

A

Min $1 - Max $1000

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8
Q

What is the maximum exercise fee to be collected for HDB resale?

A

Max $5000 ( including any option fee paid)

ie: if Buyer paid $1000 option fee, then exercise fee can only be $4000

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9
Q

Validity of the Intent To Sell?

A

12 months

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10
Q

After the buyer or seller submits the resale application, within how many days must the other party submit?

A

7 calendar days

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11
Q

How long generally does resale process takes?

A

8 weeks from the acceptance of the resale application

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12
Q

How many resale appointments are needed?

A

1

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13
Q

What is given once documents are endorsed?

A

In-principle approval for resale

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14
Q

How long an extension, maximum, can a seller request to extend their stay after legal handing over?

A

3 months

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15
Q

What must buyer apply in order to be granted OTP?

A

Intent to buy

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16
Q

Who’s duty is it to apply for valuation request?

A

Buyer, after signing OTP.