mike 0 Report post Posted September 3, 2007 I am selling hdb flat which is currently with bank loan. My agent told me need to engage a law firm to settle the outstanding bankloan, and it will cost more than 1K.Just called HDB and was told that I can check with bank first whether bank need to fix a law firm for me, otherwise i can use HDB lawyer to handle the case, an it costs just less than $400.A bit confused now, can share ur experience ? Thank u. Share this post Link to post Share on other sites
waileong 0 Report post Posted September 3, 2007 The law firm is to help you in the sale. Not just the bank loan. It will cost more than $1k, yes.You need to get a law firm approved by the bank, if it also happens to be HDB lawyer, then you can save a bit. Share this post Link to post Share on other sites
mike 0 Report post Posted September 5, 2007 Thank you.Just went to the bank to check, and was told that I don't have to get any specific law firm to settle the outstanding loan with the bank, HDB can do the work. That sounds good, I will then engage HDB to act in the resale transaction, to save money. Share this post Link to post Share on other sites
mike 0 Report post Posted September 21, 2007 Seems I didn't get the full information from the bank officer i approached previously.I checked with HDB again and this time got the clear answer as below: ===========================You can engage HDB lawyer to act for you in the conveyancying of your existing flat. However, HDB lawyer cannot act for you in discharging your existing bank loan. Usually customers will let the bank's lawyer to act for them in both conveyancying and discharge of the existing loan. You may check with your bank whether their lawyer can act for you to discharge of the bank loan if you are engaging HDB lawyer to act for you in the conveyancying of your existing flat.Thus if the bank has no objections, HDB can act for sellers in the conveyancing of resale, but sorry not possible to act for the discharge of the bank loan. The Resale Officer in charge of your case will explain to you the resale procedures and the conveyancing details on the First Appointment. =====================================so no way to save money in this case. Share this post Link to post Share on other sites
kingzkong 0 Report post Posted December 19, 2007 Seems I didn't get the full information from the bank officer i approached previously.I checked with HDB again and this time got the clear answer as below: ===========================You can engage HDB lawyer to act for you in the conveyancying of your existing flat. However, HDB lawyer cannot act for you in discharging your existing bank loan. Usually customers will let the bank's lawyer to act for them in both conveyancying and discharge of the existing loan. You may check with your bank whether their lawyer can act for you to discharge of the bank loan if you are engaging HDB lawyer to act for you in the conveyancying of your existing flat.Thus if the bank has no objections, HDB can act for sellers in the conveyancing of resale, but sorry not possible to act for the discharge of the bank loan. The Resale Officer in charge of your case will explain to you the resale procedures and the conveyancing details on the First Appointment. =====================================so no way to save money in this case.hi mike, so how's ur case now? how much do u have to pay? me in the same situation as u now, dunno abt all these till I saw ur thread... my 1st appointment will be next mth but till now the bank still did not approach me abt it leh... Share this post Link to post Share on other sites
Aphazel 0 Report post Posted August 19, 2018 Hi all..if i want to sell my hdb flat under bank loan can i do it on my own without using any housing agent? Any idea whats the costs n fees required? Share this post Link to post Share on other sites
