- HDB resale deals use HDB's standard option form and its resale process.
- HDB's legal department only acts for buyers taking an HDB housing loan.
- A private lawyer is needed where there is a bank loan or bank mortgage, and in cases such as divorce or death.
- Firms commonly put the process at around eight to twelve weeks.
How HDB resale transactions differ
HDB flats are public housing, and resale transactions follow HDB's own rules and procedures. A resale transaction uses HDB's standard form of Option to Purchase, available from HDB, rather than a privately drafted one. HDB sets eligibility rules for buyers, including rules on citizenship and permanent residency and the ethnic and permanent resident quotas for each block.
Because HDB policies change from time to time, buyers and sellers should check their own eligibility directly with HDB before committing.
When you need a private lawyer
HDB's legal department can act as conveyancer for a buyer who is taking an HDB housing loan. It does not act in every situation. You will need to appoint a private conveyancing lawyer if, for example:
- You are buying with a bank loan rather than an HDB loan.
- You are selling a flat that has an existing bank mortgage to redeem.
- You are refinancing your flat with a bank.
- The transaction arises from divorce proceedings, or involves the death of an owner or another special arrangement.
Where a bank is lending, it will generally require a lawyer from its own panel, so it is worth checking this before you appoint one.
What the lawyer does
For an HDB resale purchase or sale, a private lawyer typically:
- Reviews the option and other transaction documents.
- Sets up the loan and CPF files with the bank and the CPF Board.
- Carries out title checks and prepares the transfer and mortgage documents.
- For a seller with a bank loan, arranges for the existing mortgage to be redeemed and discharged.
- Attends to completion, including the settlement of funds and handover.
How long it takes
Firms commonly describe HDB resale transactions as taking around eight to twelve weeks, depending on HDB's approval and the financing.
If your flat purchase or sale involves a bank loan, a divorce or an estate, a lawyer can explain what will be needed and who should act.
This article is general information on Singapore law and is not legal advice. Rules and agency policies change, and every situation is different. For advice on your own circumstances, speak with one of our lawyers.
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