Timeline of buying a Resale HDB

Hi! This article wrote out the timelime for buying a resale and I thought it was quite helpful! You can check it out and they also have other articles on HDB resales too! For example this one has information on the process and actions to take!

In all likelihood, even if you have all the resources, you may not be as well versed as this is your first time transacting. I feel there is a real value add if you can engage a real estate agent to shorten and simplify the transaction process. The 8 weeks that HDB stated is only from OTP to completion.

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It might help if you have already done some initial neighbourhood visits even before engaging an agent. This will narrow down your shortlisted areas. Agents have access to their own pool of available resale units which may or may not be listed online. Tell them what you want (location, floor, facing, amenities). Some people waste too much time on viewing as they have not narrowed down on their own options.

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The whole process of looking before even starting the resale transaction could take several months. Depending on your urgency, you may wish to hold out for potentially better units in future if the current crop of resale units are not up to par for you.

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Check out previous transactions https://services2.hdb.gov.sg/webapp/BB33RTIS/BB... to get a sensing of true value of the unit you like (not the asking prices listed on propertyguru, 99co).

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Documents like payslips, IR8A, bank statements are not difficult to gather and you can start anytime.

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A few possible areas which may lengthen your timeline after completion

• Extension request (can be negotiated) from sellers (up to 3 months)
• Renovation hiccups - find reliable ID/contractors who will do a good job at project management for you!

In all I will put 1 year as an average timeline. Now is a great time to start your recce visits and list your priorities. Age 35 is just the "legal age" to transact.

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Enjoy your home hunting journey!