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发表于 19-5-2013 12:41:16|来自：新加坡
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DIY Selling HDB Property Step By Step
Step 1 : Decide Whether DIY or Engage Real Estate Agent
Well, you have landed at our DIY website. We presume that you have the determination to DIY in selling your property. If you still doubtful whether DIY or engage real estate agent to assist you, you may read the Pros and Cons of DIY & Engaging Real Estate Agent.
After you have made the decision, you may proceed to step 2.
Step 2 : Check MOP (Minimum Occupation Period)
MOP is the minimum period of time that you are required to stay in your HDB flat before you are allowed to sell your house at open market.
Please note that if you have rented out your HDB flat whole unit to tenant, the period is not counted.
The period of MOP is depend on the purchase mode & flat type. You may refer to the document issued by HDB when you bought your present property few years ago to check your MOP expiry date. You may also refer the details of Minimum Occupation Period.
Step 3 : Select Your Group
Group 1 : Seller who only sell their HDB flat. Not intend to buy another HDB Flat.
Group 2 : Seller who sell their HDB flat and are buying another HDB Flat.
If you are under group 1, please skip step 4 and proceed to step 5.
If you are under group 2, please continue with step 4.
Step 4 : Estimated Cash Proceed For Current Flat & Estimated Financial Plan For Buying Next HDB Flat
So you have decided to sell your current HDB flat and buy another HDB flat (new, resale or DBSS).
You will need to work out:
i) Estimated Cash Proceed <- Click here
ii) Estimated Financial Plan For Buying Next HDB Flat (Choose your preference)
1. New HDB Flat <- Click here
2. Resale HDB Flat <- Click here
3. DBSS <- Click here
After you fill have done both “Estimated Cash Proceed” & “Estimated Financial Plan”, remember to save to PDF file.
These document must be saved into your PC. We will need it in Step 5.
Step 5 : Fill in the Enhanced Resale Checklist & Upload Documents To HDB Website
From 1 November 2010, all resale flat sellers will have to go through the Resale Checklist, including DIY sellers.
This measure is to ensure you have done your financial calculation as well as have planned where to stay after you sell your property.
Click here to download the “Enhanced Resale Checklist For Seller“.
Please note that every form comes with its own serial number. You need to print it and fill in the form with your signature.
Please go through all the items in the Resale Checklist and tick all the boxes. If necessary, use the translated copies in Chinese, Malay and Tamil (available in the HDB InfoWEB) for reference. Only the English version is to be submitted to HDB.
You must also state the address of the next housing. If you are not so comfortable to disclose the next housing address, you can just fill in “CONFIDENTIAL”.
After you filled in the checklist, scan the checklist and save into your PC.
On the following day, you must upload following document to HDB website using the Repository e-Service in HDB InforWEB. The document to be attached are:
1. Enhanced Resale Checklist for Seller (that you have scanned)
2. Estimated Cash/Sale Proceed (For Group 2 Sellers only, you have done in Step 4)
3. Estimated Financial Plan (For Group 2 Sellers only, you have done in Step 4)
Click here for the HDB’s Repository E-Service to deposit necessary documents into HDB’s server.
IMPORTANT: After deposit the documents into HDB’s server, you will need to wait at least 7 days before you can issue Option To Purchase to buyer. This is new regulation imposed by HDB from 1 November 2010. Therefore, it is good to upload the documents as early as possible. It doesn’t matter if you decide not to sell your HDB flat later on.
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For this stage, we assume that you have met MOP period and you have deposit the “Enhance Resale Checklist for Seller” into HDB’s Repository E-Services website.
For this stage, you need to:
1. Invite property valuer to evaluate your property
2. Price your property based on market trend
3. Market your property to tell the world that you are selling your property and attract more buyers to contact you.
4. Prepare HDB forms for property transaction
Step 6 : Engage Property Valuer
Once you committed to sell your HDB flat, you shall proceed to engage property valuer to value your property. Property valuer job is to investigate and analyze your property to come out with Valuation Report which will indicate:
Your HDB flat price
Property years
Area (m2)
Nearby facilities like school, mrt, medical center etc.
Property orientation (i.e: North, South etc.)
Wall, floor and window finishing
Photo of your HDB flat (living room, bedroom etc)
The Valuation Report is very important as it will depends how much is your HDB flat worth. Valuation Report will also need to be submitted to HDB together will all the paper works for property transaction.
You can submit your Request for Valuation Report through HDB website. Within few days HDB officer will inform you the date where HDB property valuer will visit to your HDB flat.
You will need to pay some administration fees for the request, the charges are:
- For 1 & 2 Room Flat = S$117 (GST included)
- For > 3 Room = S$170.50 (GST included)
Step 7 : Price Your HDB Flat
Every HDB sellers want to sell at high price and every HDB buyers strive to buy the property at lowest price as possible. What make the transaction done is the right price at the right time. In other words, buyers will only willing to pay for the price if it is close to the market price.
If your price is substantially higher than the going price for neighboring homes, you will detract buyer interest and have a difficult time making a sale. On the other hand, if your asking price is too low, you risk losing money.
Hence, you shall price your property as close as possible to current market trend. Click here to check forHDB flat resale price for latest quarter. You may also refer to newspaper classified advertisement to check what is the asking price surrounding your property. Those properties currently for sale at your area are your competitor. So you must know how much they are offering so that your property is competent in the market. We called this as Competitive Market Analysis (CMA).
However, you shall also take note that HDB flat buyers are more concern on the COV (cash over valuation) that they need to pay. Cash over valuation is your asking price minus the property valuation price. This difference of $$ will be paid to you in CASH. So please also check the recent COV price that buyers are willing to pay.
An important factor to consider when choosing a price is your time frame. If you are looking for a quick sale, you will probably need to consider a lower asking price. However, if your time frame is more flexible, you can adjust the price accordingly.
There are some tricks to ensure that your home is sold sooner rather than later and at higher price. Click here to learn the trick.
Step 8 : Market Your Property
A common form of effective advertising is through classified advertisement in newspaper. The cost for typical advertising will cost you S$150-S$200. However, a small advertisement does provide widespread exposure. Ideally your ad shall include the fact that you are selling FSBO (for sale by owner), your asking price, location, size (number of rooms), and your contact number. Also, be sure to capitalize on the most positive feature of your home. For example, if the location is within walking distance to school.
It’s a good idea to think about all the people you come in contact with over the course of a week – Your Friends or any person you could call their names. By spreading the word that your house is up for sale, you automatically expand your potential buying base. Each of these people knows other people and may bring you one step closer to finding the right buyer. And what’s good about it? It’s totally FREE!!
Another ideal way to market your house is through internet. Currently more than 70% of home buyers start their home search online (and this number continues to grow). The internet is a fast and cost effective way to reach millions of buyers, and it’s for these reasons that your home should be online. You can consider placing your ad in Freetradeproperty.com. It is agent-free property market platform for you to direct contact with your potential buyers! And it is free!
Need more marketing strategies? Click Here.
Step 9 : Answer Phone Calls and Arrange for House Viewing
Be prepared to receive calls from buyers and real estate agents. Most of the real estate agents like to call you when they see your status as FSBO in newspaper ad. Believe me, they will ask you if you are free so that they can propose to you how to sell your property at higher price and at peace of mind. They will mention that a lot of paper works and procedure to follow and it is very troublesome for you to do it yourself.
Well, I believe you know what you shall act. Just say that, “I am not interested, thank you” and hang up. Nowadays home-buyers will look at the classified ad, and call the numbers shown in newspaper. Most of the ads are from real estate agents. So you will see most of the buyers are so-called under real estate “database”. The truth is not all the real estate agent is having a big pool of buyer’s database. They just advertise in newspaper and get buyers who called them. So, you are doing the same as what they did. Be ready to receive calls from direct buyers and also real estate agents.
You may arrange the house viewing at any time you prefer. However, most of the buyers are not available during weekdays. Hence ideally you may schedule it to weekend 3pm-5pm to consolidate the viewing sequences so that it won’t take you so much time. Every hour in weekend is Golden Hours.
Before house viewing, it is imperative to “make up” your property so that it is presentable to buyers. We call it as “staging” of your property.
Staging is one of the most powerful ways to entice buyer interest. Every seller wants their home to sell fast and bring top dollar. Well, it’s not luck that makes that happen. It’s involve a careful planning and knowing how to professionally staging your home prior to put in the market.
Preparing your home for sale can be a daunting task, but proper preparation will make a difference in how long your house sits on the market and your final sale price. Keep in mind that the goal of home staging is to improve the home’s appearance in the eyes of buyers.
You may click HERE to refer to some tips for minimal money that will help to turn your house into an irresistible and marketable home.
Step 10 : House Viewing
Keep in mind that demonstrating your house involves strategy, proper preparation and a certain amount of technique just like staging and marketing. When you show your house or organize an open house, you have to engage the buyer emotionally because the buying decision is mostly based on emotion, less on logic.
Follow these steps to arrange a successful viewing:
1. A gracious welcome
- Schedule a time for the house viewing or open house, spare your evening and weekend’s time. Make it easy for prospect to see your home, you need to be flexible to fit their needs and schedule.
- Prepare a sign in guest book for the prospect to fill out their name, contact number and email address for the purpose of follow up.
- If you have pet, consider leave them to your neighbour or friend.
- Let the prospective buyers view your house in private and offer to answer any question they might have.
2. Prepare a property factsheet
Buyers view many houses in your area, and it’s easy to confuse one property with another. Hand out the factsheet to everyone who attends the house viewing after they have signed in the guestbook. The factsheet should include following information:
Type of property, address, years, asking price, valuation price, total area, number of bedrooms, number of bathrooms, features (tiles, recent upgrade you made), pictures and brief description of your house, brief description of the neighbourhood and your contact information.
3. Keep the house comfortable
- You want your house to be cool and welcoming if it’s hot at outside. Turn on the air-cond, fans, open the window and curtain to keep your house airy and comfortable.
- Turn on soft music and keep the volume low.
- Light up the house. Switch on every light in the house for showing. In areas of your home where natural light is not the best make sure you have lamps with higher watt bulbs.
4. Follow up
Send a thank you note to them via text message or email. Within a week call each of them if they are interested or have any questions about the house and the neighbourhood. If it’s out of their consideration, thank them and ask if they have any referral or any feedback or comment, this will help you prepare for the next event.
Step 11 : Receive Offer, Negotiation and Close the Deal
During the house viewing session, you will receive offer from buyers. Of course buyers will not offer you the price exactly same as what you are asking for. Negotiation plays a big part in this step. You might possess very well negotiation skill. You may also read our article: How to Negotiate Your property Price.
Upon agree on the price, you can close the deal by offering the Option To Purchase (OTP) form to the future home-owner. In the mean time, request S$1,000 from the future home-owner. You may obtain the OTP form from HDB Branch Offices of HDB Hub.
Within 14 days, the future home-owner must sign and return the OTP form to you together with another S$4,000 as deposit.
Upon receiving the OTP and S$4,000, celebrate with your beloved wife as finally your house is sold at your desired time and price.
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For this stage, all the paper works involve. And you have to go HDB Hub at Toa Payoh Lorong 6 twice to complete the property transaction process.
Take a breath, let’s start here.
Step 12 : Submit Resale Application
So both you and buyer are agree with price and both parties have signed the Option to Purchase form. Next, you will need to log in to HDB website to submit your resale application. Here is the website LINK.
You will need below documents and information to complete the Resale Application:
You will need the following information to complete the form:
Step 13 : Attend 1st HDB Appointment
After 4-6 weeks of your resale application, HDB will then schedule First Appointment date to process the resale transaction. You can check the date you prefer for the 1st appointment. Click to check Earliest Available Resale First Appointment.
The detail of 1st appointment like the purpose and what you need to bring can be found here
Step 14 : Attend2nd HDB Appointment (Completion)
After another 4-6 weeks from the 1st appointment date, you will need to visit HDB hub for second time to finalize all the necessary documentation and pass the key to buyer. Click here for the detail.
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