New HDB resale
portal to go live on Jan 1
SINGAPORE: Starting from Monday (Jan 1), all new resale
transactions would have to be submitted through a new Housing and
Development Board (HDB) resale portal.
The portal, which goes live at 1pm, could see the time taken to
complete a resale transaction cut by half. Currently, a resale
transaction takes about 16 weeks and requires two appointments with
HDB.
The move to streamline the resale process comes at a time when HDB
is seeing more people performing property transactions without the
help of an agent.
HDB said in 2010, about one in 10 people completed property
transactions by themselves, without using an agent. The ratio rose
to almost three in 10 people for the first half of this year.
The initiative by HDB was lauded by a group of homeowners and
property agents who were given a preview of the portal ahead of the
launch. They described the portal as fast and easy-to-use.
Mr Xavier Chia, 31, a customer service officer said: “It’s
convenient. So I don't really have to make appointments … if all
the documentation is something I can do at my end, then I would
have the freedom of time to actually do it at my own
convenience.”
Mr Chia, who bought a new four-room flat in Boon Keng last
December, added that the portal has made the resale process more
“straightforward”, as he no longer has to access multiple
e-services platforms on HDB’s website to conduct eligibility
checks.
Another homeowner, Mr Randy Goh, said when he bought his Punggol
flat earlier this year, it was difficult to find a common time with
the seller to attend the first appointment with HDB together.
The 28-year-old sales executive said he and his wife had to take
time off work to attend the appointment, which was simply to work
out the seller’s sale proceeds and assess his financial plan.
But now, such eligibility checks would be integrated into the new
portal. Both buyer and seller would only need to attend one
appointment with HDB to complete the resale transaction by signing
on the necessary documents.
IMPROVEMENTS CAN BE MADE
While the portal aims to provide greater convenience to flat buyers
and sellers, Mr Chia and Mr Goh felt the portal would be more
user-friendly if there are multiple language settings. Currently,
it is only available in English.
The portal which requires all administrative fees to be paid online
via a credit card, or NETS, could also become an issue for the
elderly who may not know how to make payments online, said Mr
Goh.
But HDB said those who are unable to make payments online could
print a payment advice form and make the payment at HDB Hub within
three days.
Mr Chia also felt more guidelines could be provided to help users
fill up the online forms.
“While (the portal) lists the documents required, (it) may not
necessarily guide users how they can fill it up,” he said. “If I
have any questions … it will still lead me to call HDB, or make a
visit to enquire more, or seek professional help from
agents."
LESS PAPERWORK FOR AGENTS
Mr Nelson Lim, key executive officer of C&H Properties, said he
believes the streamlined resale process will be well-received by
agents as it reduces the amount of paperwork a property agent has
to complete on behalf of their client.
But that does not mean agents will be made redundant, added ERA
Realty Network’s key executive officer Eugene Lim.
Mr Eugene Lim said: “The admin part of the process is just a small
part of the agent’s job. The agent is paid … to find the buyer who
will pay the highest possible price for the resale property. It
doesn’t match the seller, and someone who wants to buy a house,
together. It is just an admin portal to facilitate what the (buyer
or) seller needs to know, do, and execute."
Channel NewsAsia understands that the new portal allows property
agents to submit the forms on their clients’ behalf.
However, some homeowners Channel NewsAsia spoke to said that with
the convenience provided by the portal, they are likely to go
agent-free in the future.
Source: CNA/mz