Singapore HDB unveils Resale Checklist for housing agents

Singapore HDB unveils Resale Checklist for housing agents

SINGAPORE : The Housing and Development Board (HDB) announced on Monday that it is introducing mandatory Resale Checklists for housing agents handling resale HDB flat transactions.

The checklists cover a list of key policies and procedures that agents will need to advise resale flat buyers and sellers before they commit to a transaction.

This is part of HDB’s ongoing efforts to ensure that buyers and sellers are aware of relevant HDB purchase and financing policies concerning such transactions.

From 1 May, housing agents will have to submit the completed Resale Checklists to HDB together with their resale applications.

Under the new procedure, agents who are engaged by the sellers will have to go through the checklists with the sellers to highlight important policies.

Similarly, agents employed by buyers will have to go through a separate checklist with the buyers.

Agents will have to submit the checklists to HDB together with the resale applications.

HDB will then carry out checks to ensure that the agent has gone through the checklist with his client before granting the Option to Purchase.

Buyers and sellers who do not engage the services of housing agents need not submit the checklist.

However, they are advised to go through the document to ensure that they are aware of the key resale policies and procedures.

 - CNA/ch
Source : Channel Newsasia - 24 March 2008

Singapore Property - Buy , Sell , Rent , Invest

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