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HDB to launch new resale portal in January 2018

angela.teo@bizedge.com
Updated

HDB is launching a new resale portal on January 1, 2018, which it says will streamline the resale transaction process for HDB flats by integrating all eligibility checks into a single platform.

Currently, resale flat buyers and sellers have to complete an online resale checklist and make two appointments with HDB – a first appointment to work out the sellers’ sale proceeds and assess the buyers’ financial plan, and a second appointment to complete the resale transactions and sign the documents. Each transaction takes about 16 weeks to complete.

With the introduction of the portal, flat buyers and sellers will need to attend only one appointment with HDB, and the transaction time can be shortened by up to 8 weeks, says HDB. The first appointment will no longer be needed as all forms and checks will be completed through the portal.

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From January 1, 2018, all new resale applications must be submitted using the portal. Flat buyers and sellers will also have to use a new HDB-prescribed OTP form.

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