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HDB is Singapore’s Public Housing Authority set up in 1960 that provides affordable and high quality homes and flats for the people of Singapore through various housing plans and projects. HDB plans and develops public housing towns in various parts of Singapore with great features and facilities to meet the requirements of the residents and to provide them with good livelihood. HDB also gives priorities to renewal and up gradation programs in order to meet the changing needs and requirements of the residents. The HDB living environments are provided with community spaces for residents to interact with people of different communities and origins to develop friendly relationships with them, thus supporting the national objectives of racial harmony and friendliness.
HDB Provides flats with affordable prices in many parts of Singapore like Bukit Butok, Bukit Merah, Bukit Panjang, Bukit Timah, Ang Mo Kio, Bedok, Bishan and many other parts. The eligibility conditions to buy a HDB flat are you should be a citizen of Singapore and any one of your family member should also be a citizen of Singapore or a permanent resident of Singapore. You should be at least of 21 Years at the time of application. You should have a proper family nucleus under any government schemes. Singles and unmarried are not allowed to purchase a flat under the HDB schemes.
If you are a HDB flat owner, You can sell your flats to eligible buyers under the government policies of your choice at a mutually agreed price. The seller and the buyer of the flat should report to the HDB about the true transaction prices. You cannot enter into an agreement or arrangements with the buying parties to inflate the price and give a false report to the HDB about the transaction prices. Under an HDB act, the penalties for buyers and sellers, who give false information about the transaction prices will be 6 months of imprisonment or a fine of 5000 dollars. You should also check the eligibility conditions of the buyers in buying a flat. You should also make sure that you have passed the minimum occupation period in order to resell your flats. You can also refer HDB websites in order to know the right transaction price for the flats you are trying to resell. You can make a search to find out the resale transacted prices of the flats based on the applications approved by the HDB.
You should also need to settle all your loan amounts on the flats and the outstanding mortgage loan amounts on the flats to resell your flat. If in case your resale price is not enough to settle the loan amounts, it is considered as a negative proceeds sale and you should have to pay the remaining amount in cash to the HDB or any other lending bank from whom you have taken the loan amount. If in case you have used the CPF monies for the purchase of your flat, you need to refund the amount with the interest to the CPF account.
Buy Sell Rent Invest Singapore Property
Billy Chen 曾庆义
CEA Registration Number : R029372I
Tel: (+65) 88689999
Fax: (+65) 64021826
billy@billychen71.com ( email me )
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