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Contents Page
Section 1 - Introduction
Type of HDB Flats 2 - 4HDB Time Planning 5Learner Activity 1 6 - 7Learner Group Activity 1 8
Section 2 Resale ProcedureResale Checklist Buyers & Sellers
9 - 12Important notes on Option To Purchase 13 - 16How to fill up the Option To Purchase 17 - 26Documents for Registration 27Learner Activity 2 28HDB Eligibility Scheme and Conditions to Purchase 29HDB Eligibility Checklist 30 - 31Ethnic Integration Policy 32
S ti 3 CPF H i G t
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Types of HDB FlatConversion : 1 sq.m = 10.76 sq.ft
TYPESFloor Area (Approx.)
Sq. Meter Sq. Feet
2 'S' 42 452
3 'I' 60 646
3 S 65 700
3 'NG' 68.8 741
3 'A' 73 788
1/2 RM 82 883
'I' 82 883
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RESALE TIME PLANNING
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After viewing a potential unit for the second time, your buyer decided to purchase the unit. Thebuyer had a valid HLE from HDB and both the sellers and the buyer wanted to complete thetransaction as early as possible.
Please advise buyer accordingly using the resale time planning.
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Discuss the individual answers that your grouphave and select one representative to present your
best answer and the points to take note.
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Documents For Registration (HDB/BANK)
SELLER :
RESALENET APPLICATION FORM$80 REGISTRATION FEES
BUYER :
RESALENET APPLICATION FORM$80 REGISTRATION FEESBUYER CHECKLIST
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After viewing a 4 room flat in Jurong today, both the buyers and sellers of the unit agreed tosell and purchase the unit at S$388,000. Your are the salesperson acting for the seller and youare required to fill up the OTP (using the sample copy of OTP provided) based on thefollowing information :
Buyers :
Divorcee, Tan Chin Chuan, S1085677DDaughter under his custody, Ong Bee Geok, S9900991ACurrently staying at Blk 123 Choa Chu Kang Ave 1#03-90 Singapore 680123
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Eligibility Schemes & Conditions to Purchase
* SC denotes Singapore Citizen ** SPR denotes Singapore Permanent Resident
Scheme Citizenship(Family Nucleus)
Min Age
(years)(Owner) Family Nucleus Special Conditions
Public (PA) 2 SC; or1 SC + 1SPR;or2 SPR
21 Applicant, spouse & children, if any; orApplicant (single), parent & siblings; orApplicant (widowed, divorced orseparated) and children legally under hiscustody
Fiance/Fiancee 2 SC; or1 SC + 1SPR;or2 SPR
21 Couple intending to get married Marriage certificate must be shown to HDB within 3 monthsfrom resale completion date. For couples applying for the CPFHousing Grant, they must submit it on /before the resalecompletion date.
Orphans 2 SC; or1 SC + 1SPR
21 A single orphan applicant and his siblings;or two single orphans. Unrelated orphansmust buy as co-applicants and must be atleast 21 and are SCs (JSS).
Unrelated orphans must buy as co-applicants. Unmarriedsiblings are not allowed to buy separate flats. If an orphan isthe only child and single, he can apply under the SSC schemeif he is at least 21.
SingleSingaporeCitizen (SSC)
1 SC 3521(orphans/widows)
Single person who is unmarried, divorcedor widowed.
You can buy a resale flat of any flat-type in any town/estate.
Joint Singles(JSS)
2 SCs 3521(orphans/widows)
Related or unrelated singles. Application must include at least 2 Sporean as owners.
Non-Citizen
Family(NCF)
1 SC 21 1 SC applicant who is at least 21 and a
non-citizen family member as occupier
The non-citizen listed occupier must have at least a six-month
long-term social visit pass on the date of registration.
Non-CitizenSpouse(NCS)
1 SC 21
35
Married a non-citizen spouse with at least 6months social visit pass.Married a non-citizen spouse with less than6 months social visit pass.
You can buy a resale flat of any flat type.
Source from HDB
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HDB RESALE BUYER'S ELIGIBILITY CHECK
1. HDB ELIGIBILITY SCHEME
Public Scheme (PA) Non-Citizen Spouse Scheme (NCS)
Fianc/ Fiance Scheme Non-Citizen Family Scheme (NCF)
Single Singapore Citizen Scheme (SSC) Orphans Scheme
Joint Singles Scheme (JSS)
2. CPF GRANT FOR FAMILY $20K to $40K CPF GRANT FOR SINGLE $15K/$20K Singaporean Singaporean Age: 21 Age: 35 First timer Income ceiling $5k Family nucleus 5 Room Income ceiling $10k No private property last 30 months
$15k Stay same flat with parents Not bankrupt
No private property last 30 monthsNot bankrupt
Buying Resale flat not affected bySERS
Buying Resale flat notaffected by SERS
$15Kor$20K stay with Parents
$20K SC / SPR Household$30K SC / SC Household$40k near Parents /Married Child
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HDB RESALE BUYER'S ELIGIBILITY CHECK
3. QUALIFY FOR HDB LOAN
At least one buyer is a Singaporean citizen
Household monthly income $10,000 (Family)
Household monthly income $5,000 (Single)
Have not previously taken two or more HDB concessionary interest rate loans
Do not own any private residential property ( include HUDC flat/Executive Condo) inside or
Out of Singapore
Have not disposed off any private residential property ( include HUDC flat/ Executive
Condo) within 30 months before the date of application for HDB Loan Eligibility (HLE) and
have never taken any HDB concessionary interest rate loan
Do not own more than one owner-operated market/hawker stalls or commercial/industrial
property in or overseas
Do not own any market/hawker stall or commercial/industrial property that is rented out
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Ethnic Integration Policy & PR Quota
The Ethnic Integration Policy (EIP) is to promote racial integration and harmony and toprevent the formation of racial enclaves, by ensuring a balanced ethnic mix among the variousethnic communities living in public housing estates.
The EIP is applicable to the purchase of new flats, resale flats, SERS ( Selective En-blocRedevelopment Scheme) replacement flats and DBSS (Design, Build & Sell Scheme) flats as wellas the allocation of rental flats in all HDB estates.
Under the Policy,
Maximum proportions are set for all ethnic groups : Chinese, Malays and Indian/Others, in eachHDB block and neighbourhood. There is no restriction on the sale and purchase of an HDB flat ifthe proportion of the buyer's ethnic group is within the prescribed block and neighbourhoodlimits.Once the block/neighbourhood limit for a particular ethnic group has been reached, no further
sale of HDB flats to that ethnic group will be allowed if it will lead to an increase of theproportion beyond the limit.There is no restriction if the buyer and seller are of the same ethnic group.SPR QuotaFor resale applications received on or after 5 March 2010, Singapore Permanent Resident (SPR)families buying a resale flat will have to meet the SPR quota, in addition to the Ethnic IntegrationPolicy (EIP). The SPR quota ensures that SPR families can integrate into the local community forsocial cohesion and to prevent enclaves forming in the public housing estates. The quota will
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Type of CPF Housing Grant Available
Source from HDBTarget Recipient Type of CPF Grant
For married couples who areFirst-timer applicants
Family Grant
For married couples who are
First-timer applicants andBuying a resale flat near their parents'/married child's HDBflat or owner-occupied private residential property
Higher-tier Family Grant
Applicants of $30,000 Family Grant/$40,000 Higher-tierFamily Grant, if:They have worked for at least 1 yearand
Average monthly household income over the last 1 year doesnot exceed $5,000
Additional CPF Housing Grant(AHG)
For Single Citizens:Single applicants aged 35 and above who buy the resale flatto live on their own under Single Singapore Citizen (SSC)Scheme, or
Singles Grant
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantAHG?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantAHG?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantSingles?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantSingles?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantSingles?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantAHG?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantAHG?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocument7/27/2019 Learner Guide HDB Resale Procedure and Financial Plan_V2
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Family Grant
Eligibility Conditions :
Criteria Detailed Description
Citizenship You are a Singapore Citizen. Your family nucleus must comprise ofat least another Singapore Permanent Resident or Singapore Citizen.
Age You must be at least 21 years old.
Family Nucleus You are applying with your:Spouse and children (if any), orFianc/fiance (must be able to produce your marriage certificate,latest by the date of resale completion), orChildren under your legal custody, care and control (if widowed ordivorced)
Income CeilingYour
average gross monthly household income
must not exceed$10,000#.
If applying with extended family,average gross monthlyhousehold incomemust not exceed $15,000#.Guidelines on assessment of household income.#For resale applications received on or after 15 Aug 2011.If youraverage gross monthly household incomeover the past 12months is $5,000 and below, you can also apply for the Additional
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatExtendedFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatExtendedFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatIncomeGuidelines?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatIncomeGuidelines?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantAHG?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantAHG?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatIncomeGuidelines?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatExtendedFamily?OpenDocument7/27/2019 Learner Guide HDB Resale Procedure and Financial Plan_V2
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Type of Family Grant and Respective Grant Amount
Type of Grant Available Amount
SC / SC Household SC / SPR Household
CPF housing grant for familyRead more about PromotingCitizenship in HDB Households
$30,000 $20,000#
CPF housing grant for family (livingnear parents/married child*):Parents staying with you in the resaleflat, orYour parents and married child are theowner-occupant of property in thesame town or within 2 km
*At least one of the parents/marriedchild must be a Singapore PermanentResident or Singapore Citizen.
$40,000 $30,000#
Half Housing GrantIf you are a first-timer citizen and yourspouse has previously enjoyed ahousing subsidy
$15,000or
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCheckDistance?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCheckDistance?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCheckDistance?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCheckDistance?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocument7/27/2019 Learner Guide HDB Resale Procedure and Financial Plan_V2
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Higher-Tier Family Grant
Criteria Detailed Description
Citizenship You are a Singapore Citizen. Your family nucleus must comprise ofat least another Singapore Permanent Resident or Singapore Citizen.Read more about Promoting Citizenship in HDBHouseholds
Age You must be at least 21 years old.
Family Nucleus You are applying with your:Spouse and children (if any), orFianc/fiance (must be able to produce your marriage certificate,latest by the date of resale completion), or
Children under your legal custody, care and control (if widowed ordivorced)
Income Ceiling Youraverage gross monthly household incomemust not exceed$10,000#.If applying with extended family,average gross monthlyhousehold incomemust not exceed $15,000#.If youraverage gross monthly household incomeover the past 12
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatExtendedFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatExtendedFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantAHG?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatExtendedFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocument7/27/2019 Learner Guide HDB Resale Procedure and Financial Plan_V2
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Type of Family Grant and Respective Grant Amount
Type of Grant Available Amount
SC / SC Household SC / SPR Household
CPF housing grant for familyRead more about PromotingCitizenship in HDB Households
$30,000 $20,000#
CPF housing grant for family (livingnear parents/married child*):Parents staying with you in the resaleflat, orYour parents and married child are theowner-occupant of property in thesame town or within 2 km
*At least one of the parents/marriedchild must be a Singapore PermanentResident or Singapore Citizen.
$40,000 $30,000#
Half Housing GrantIf you are a first-timer citizen and yourspouse has previously enjoyed ahousing subsidy
$15,000or
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCheckDistance?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCheckDistance?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCheckDistance?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCheckDistance?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatBenefitsforSC?OpenDocument7/27/2019 Learner Guide HDB Resale Procedure and Financial Plan_V2
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Additional CPF Housing Grant (AHG)
Eligibility conditions:
Criteria Detailed Description
Meet eligibility
conditions andare applying
for:
CPF
Housing Grant
for Family or
CPF
Housing Top-
Up Grant
AHG applicants must meet all eligibility conditions and must
be applying for any of the CPF Housing Grant below:CPF Housing Grant for Family or
CPF Housing Top-Up Grant
Employment You or your co-applicant(s) must be in continuous
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFTopUpGrant?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFTopUpGrant?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocument7/27/2019 Learner Guide HDB Resale Procedure and Financial Plan_V2
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Amount of Additional CPF Housing Grant (AHG)
The amount of AHG you will be eligible for is graded based on your averagegross monthly household income as follows:
Average Monthly
Gross Household
Income*
AHG prior to 6 Feb
2009**
AHG with effect from
6 Feb 2009**
$1,500 or less $30,000 $40,000
$1,501 - $2,000 $25,000 $35,000
$2,001 - $2,500 $20,000 $30,000
$2,501 - $3,000 $15,000 $25,000
$3,001 - $3,500 $10,000 $20,000
$3,501 - $4,000 $5,000 $15,000
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Housing Grant for Singles
Eligibility Conditions :
Criteria Detailed Description
Citizenship You are a Singapore Citizen (SC).
Age At least 35 years old if you are single andapplying for resale flat under any of the following
schemes:
Single Singapore Citizen Scheme
Joint Singles Scheme
Orphans SchemePublic Scheme (if parents are included in the
resale application as co-applicants or occupants)
Non-Citizen Family Scheme
OR
Source from HDB
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatSingleScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatJointSingleScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatOrphansScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatPublicScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatNonCitizenFamilyScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatNonCitizenFamilyScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatPublicScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatOrphansScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatJointSingleScheme?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatSingleScheme?OpenDocument7/27/2019 Learner Guide HDB Resale Procedure and Financial Plan_V2
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2011.
Special Conditions For the Higher-Tier Singles Grant, the parents* must
be included in the application as the co-applicants or
occupants.
*At least one of the parents must be a Singapore
Permanent Resident or Singapore Citizen.
Ownership/Interest
in Property
You(applicant), co-applicants and all persons listed in
the application for purchase of the flat must not
Own any of the following (local or overseas
properties) or have disposed of one within 30
months prior to the application:
- Private residential property (including HUDC flat,
Executive Condominium)
- House
- Building
- Land
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantSingles?OpenDocument#amounthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantSingles?OpenDocument#amount7/27/2019 Learner Guide HDB Resale Procedure and Financial Plan_V2
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Top-Up Grant to the Family Grant
The CPF Housing Top-Up Grant Scheme is a housing subsidy for those whohave taken a CPF Housing Grant for Singles previously in their purchase of aresale flat
who subsequently marry a first-timer citizen spouse or anotherSingles Grant recipient; or
whose non-citizen spouse or child have become a SingaporeCitizen or Singapore Permanent Resident (applicable for those who havebought a resale flat under the Non-citizen Spouse Scheme).
They can apply for the Top-Up Grant for their existing flat or when they buyanother resale flat, if they meet the listed eligibility criteria.
The grant is only given to Singapore Citizen spouse (not Singapore
Permanent Resident spouse) who is listed as an owner or applicant of theflat.
Eligibility Conditions:
Category Detailed Description
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have not enjoyed any housing subsidy before) or
another Singles Grant recipient
ORFor Singapore Citizens who had bought resale flats
under the Non-citizen Spouse Scheme and obtained
Singles Grant
You are married to a non-SC or non-SPR on or after
08 Mar 2005, and:
Your spouse or child(ren) later obtain SC or
SPR status, or
You and your spouse later give birth to an SC
or SPR child(ren)
Your application for the CPF Housing Top-Up Grant
must be submitted to the HDB within 6 months after
the spouse or child obtains Citizenship or Permanent
Resident status.
Average Must be $10,000 and below.
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Buy a 1-room flat or a resale flat (of any flat
type) that has been announced for redevelopment
under the Selective Enbloc Redevelopment Scheme(SERS).
Amount of prevailing Family Grant:
Family Grant Family Grant (Living Near
Parents/Married Children)
SC / SC
Household
SC / SPR
Household
SC / SC
Household
SC / SPR
Household
$30,000 $20,000#
$40,000 $30,000#
#If you are from an SC/SPR household, you can enjoy the full housingsubsidy by applying for the Citizen Top-Up when your SPR spouse takes upSingapore Citizenship or when you have an SC child.
http://www.hdb.gov.sg/fi10/fi10329p.nsf/w/eSERSInProgress?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10329p.nsf/w/eSERSInProgress?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatCPFGrantFamily?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10329p.nsf/w/eSERSInProgress?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10329p.nsf/w/eSERSInProgress?OpenDocument7/27/2019 Learner Guide HDB Resale Procedure and Financial Plan_V2
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Use of Grant
The CPF Housing Grant will be credited into your CPF OrdinaryAccount and treated as part of your CPF fund. It can be used to pay forthe CPF portion of the down-payment at the time of signing of the Salesand Purchase Agreement after you have paid the cash payment (ifapplicable) or to reduce the mortgage loan.The CPF Housing Grant will be included in the computation of the CPF
withdrawal limit.
Conditions to comply with after getting the CPF housing grant
How it will impact you
SC/SPR Household getting Family Grant
If you are from an SC/SPR household, you can enjoy the full housing subsidyby applying for the Citizen Top-Up when your SPR family member takes upSingapore Citizenship or when you have a SC child.
Minimum Occupation Period (MOP)
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Resale Levy
Resale Levy is payable when you buy or take over the ownership of anothersubsidised flat. Read more on the Resale Levy and charges.
Refund of CPF Money
When you sell the flat bought with CPF Housing Grant, all the CPF money youspent (including the housing grant) will be returned to your CPF account
according to the CPF Boards rules and regulations.Disposal of Existing Flat
You have to dispose of your flat within six months of the date of taking
possession of the resale flat.
How it will impact your Parents/Married Child
If you are applying for a higher-tier grant, i.e. your flat is near yourparents'/married child's home, during the 5-year occupation period*, yourparents/married children must remain:
In the existing town, or
http://www.hdb.gov.sg/fi10/fi10322p.nsf/w/SellFlatResaleLevy?OpenDocumenthttp://www.hdb.gov.sg/fi10/fi10322p.nsf/w/SellFlatResaleLevy?OpenDocument7/27/2019 Learner Guide HDB Resale Procedure and Financial Plan_V2
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HDB RESALE BUYERS FINANCIAL PLAN
HDB Loan
Resale Price
HDB Valuation
COV (CASH ONLY)
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HDB RESALE BUYERS FINANCIAL PLAN
Bank Loan
Resale Price
HDB Valuation
COV (CASH ONLY)
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Page | 49
HDB LOAN - BUYERS FINANCIAL PLANNING
Purchase Price above Valuation Purchase Price Below Valuation Purchase Price at Valuation
10% = $32,000(CPF Down payment) +2% Purchase Price($6,400)
(Legal + Stamp)Total CPF required =$38,400
$300,000(HDB Valuation)
$320,000(Purchase Price) $420,000(HDB Valuation)
$400,000(Purchase Price)
COV =$20,000
10% = $30,000(CPF Down payment) +2% Purchase Price ($6,400)(Legal + Stamp)
Total CPF required = $36,400
90% Loan = $270,000
COV =
10% = $40,000(CPF Down payment) +3% Purchase Price($12,600)
90% Loan = $360,000
< 100%
90% Loan = $288,000
< 100%< 100%
Note: e.g If HLEapprove is onlyS$250,000Buyer have to top up
S$20,000 CPF or Cash
Note: e.g If HLE approve is onlyS$165,000
Buyer have to top up S$195,000CPF or Cash
Note: e.g If HLE approve is onlyS$165,000
Buyer have to top up S$123,000 CPFor Cash
$320,000(Purchase Price)(HDB Valuation)
Estimated SF/LF :Purchase Price $360K : 3%
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EXAMPLE 1 : HDB LOAN - BUYERS FINANCIAL PLANNING
Step 1: Cash
Purchase Price : $ 350,000
HDB valuation : - $ 280,000Cash 1 : $ 70,000
Step 2: CPF
CPF Ordinary AC Available $ 40,000
10% of VAL / PP (whichever lower) : - $ 28,000
2% of PP (Legal + Stamp Duty) : - $ 7,000
CPF Surplus / CPF Shortfall ( Cash 2 )) $ 5,000
Step 3: Loan90% of VAL / PP (whichever lower) : $ 252,000CPF Surplus : - $ 5,000Loan needed : $ 247,000Loan Qualified : $ 293,000Cash 3 $ NIL .
SUMMARY:
1. Total Cash Required( Cash 1 + Cash 2 + Cash 3 )
: $ 70,000
2. Loan needed, Tenure ( ), Int. ( ) : $ 247,000
3. Monthly Installment : $ 1,012
4. 1% Agent commission (+ 7% GST) : $ 3,745
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EXAMPLE 1 : BANK LOAN - BUYERS FINANCIAL PLANNING
Step 2: CPF
CPF Ordinary AC Available $ 40,00015% of VAL / PP (whichever lower) : - $ 42,0002% of PP (Legal + Stamp Duty) : - $ 7,000CPF Surplus / CPF Shortfall ( Cash 2) $ 9,000
Step 3: Loan
80% of VAL / PP (whichever lower) : $ 224,000
CPF Surplus : - $ 0
Loan needed : $ 224,000
Loan Qualified : $ 300,000
Cash 3 $ NIL .
Step 1: Cash
Cash-Over-Valuation : $ 70,0005% Minimum Cash Payment :+ $ 14,000Cash 1 $ 84,000
SUMMARY:
1. Total Cash Required( Cash 1 + Cash 2 + Cash 3 )
: $ 93,000
2. Loan needed, Tenure ( ), Int. ( ) : $ 224,000
3. Monthly Installment : $ 940
4. 1% Agent commission (+ 7% GST) : $ 3,745
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CASE SCENARIO : Buy 1st Sell Later
Flat type Exec - Apt
Purchase Price $495,000
Market Valuation $450,000
Applicant (Husband) age, last birthday 44 yrs old
l d & i i l l f ild ild i d
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Page | 53
HDB LOAN - BUYERS FINANCIAL PLANNING
Step 1: Cash
Purchase Price : $
HDB valuation : - $
Cash 1 : $
Step 2: CPF
CPF Ordinary AC Available $
10% of VAL / PP (whichever lower) : - $
2% of PP (Legal + Stamp Duty) : - $
CPF Surplus / CPF Shortfall ( Cash 2 )) $
Step 3: Loan90% of VAL / PP (whichever lower) : $
CPF Surplus : - $
Loan needed : $
Loan Qualified : $
Cash 3 $ .
SUMMARY:
1. Total Cash Required( Cash 1 + Cash 2 + Cash 3 )
: $
2. Loan needed, Tenure ( ), Int. ( ) : $
3. Monthly Installment : $
4. 1% Agent commission (+ 7% GST) : $
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Discuss in your group, the individual answers that youhave and get one representative to present the correctanswer and list out the mistakes that were made.
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CASE SCENARIO : Flat sold already. Completion in 1 mthsTime
Flat type 5A
Purchase Price $530,000
Market Valuation $500,000
Applicant (Husband) age, last birthday 46 yrs old
HDB Resale Proced re & Financial Plan Propert of Wild Wild West Properties Pte Ltd
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Page | 56
BANK LOAN - BUYERS FINANCIAL PLANNING
Step 1: Cash
Cash-Over-Valuation : $
5% Minimum Cash Payment : - $
Cash 1 : $
Step 2: CPF
CPF Ordinary AC Available $
10% of VAL / PP (whichever lower) : - $
2% of PP (Legal + Stamp Duty) : - $
CPF Surplus / CPF Shortfall ( Cash 2 )) $
Step 3: Loan
90% of VAL / PP (whichever lower) : $CPF Surplus : - $
Loan needed : $
Loan Qualified : $
Cash 3 $ .
SUMMARY:
1. Total Cash Required( Cash 1 + Cash 2 + Cash 3 )
: $
2. Loan needed, Tenure ( ), Int. ( ) : $3. Monthly Installment : $
4. 1% Agent commission (+ 7% GST) : $
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CASE SCENARIO : Sell 1st Buy Later
Flat type 4A
Purchase Price $300,000
Market Valuation $260,000
HDB Resale Procedure & Financial Plan Property of Wild Wild West Properties Pte Ltd
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Page | 58
HDB LOAN - BUYERS FINANCIAL PLANNING
Step 1: Cash
Purchase Price : $
HDB valuation : - $
Cash 1 : $
Step 2: CPF
CPF Ordinary AC Available $
10% of VAL / PP (whichever lower) : - $
2% of PP (Legal + Stamp Duty) : - $
CPF Surplus / CPF Shortfall ( Cash 2 )) $
Step 3: Loan
90% of VAL / PP (whichever lower) : $
CPF Surplus : - $
Loan needed : $
Loan Qualified : $
Cash 3 $ .
SUMMARY:
1. Total Cash Required( Cash 1 + Cash 2 + Cash 3 )
: $
2. Loan needed, Tenure ( ), Int. ( ) : $
3. Monthly Installment : $
4. 1% Agent commission (+ 7% GST) : $
HDB Resale Procedure & Financial Plan Property of Wild Wild West Properties Pte Ltd
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Page | 59
BANK LOAN - BUYERS FINANCIAL PLANNING
Step 1: Cash
Cash-Over-Valuation : $
5% Minimum Cash Payment : - $
Cash 1 : $
Step 2: CPF
CPF Ordinary AC Available $
10% of VAL / PP (whichever lower) : - $
2% of PP (Legal + Stamp Duty) : - $
CPF Surplus / CPF Shortfall ( Cash 2 )) $
Step 3: Loan
80% of VAL / PP (whichever lower) : $
CPF Surplus : - $Loan needed : $
Loan Qualified : $
Cash 3 $ .
SUMMARY:
1. Total Cash Required( Cash 1 + Cash 2 + Cash 3 )
: $
2. Loan needed, Tenure ( ), Int. ( ) : $
3. Monthly Installment : $
4. 1% Agent commission (+ 7% GST) : $
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Annexes Pages
Sample of valuation report 61 - 66
Husbands CPF withdrawal statement 67 - 69
Wifes CPF withdrawal statement 70
Factors for Computation on Monthly Installment 71
Estimated Date of Completion for Resale of Flat 72
Loan Quantum Table for Purchase of HDB Flats 73 - 74
Bank Loan Table 75
Latest updates If Any
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