Singapore proptech Ohmyhome launches tri-service HDB Sellers Package

The package aims to ease the transition from selling a home to purchasing a new property.

Proptech marketplace Ohymyhome unveiled its tri-service HDB Sellers Package designed for home sellers who concurrently sell and buy within a short timeframe, an announcement revealed.

The package will comprise of agent services, conveyancing and mortgage advisory as it aims to helphomesellers navigate the process of selling to their home to their next property purchase.

“It has become increasingly common for home sellers to be unaware of certain financial considerations that are necessary as part of the sale, which leads to a miscalculation of the net sale proceeds,” the firm said.

Also read: Will big banks' fully digital home loan solutions threaten incumbent proptech players?

For instance, if a seller previously used the funds in their Central Provident Fund (CPF) account to contribute to the property’s mortgage or down payment, there would be accumulated accrued interests owed to the seller’s CPF account.

“Such factors affect the net sales and the cash received from the sale, and this may hinder the seller’s ability to afford the purchase of a new home,” Ohmyhome explained. “The eligibility factors for Singaporeans to utilise their home loans and CPF funds for their next property, as well as managing the two transaction concurrently further complicates this process.”

The package price for HDB flats priced below $400,000 is at $4,688 nett, whilst for those priced between $400,000 and $600,000, the package price costs $5,688 nett. The package price for HDB flats with a transaction price above $600,000 is $6,688 nett.

The HDB Sellers Package is payable only after the sale has been completed, and the package price does not include HDB resale application administrative fee. 

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The partnerships aim to improve care delivery and patient outcomes.
The KoolLogix cooling system for data centres uses passive heat extraction and removal.
This is the first-of-its-kind collaboration between an index provider and an airport group.
The new initiative is targeted towards offering greater savings and flexibility.
Mapletree Logistics Trust was seen with the most growth.
Flexibility, specificity, and customer-centred approaches prove to be the edge in today’s enterprise application software companies.
The list is from Investigoal, which gave Singapore a score of 8. 
It won't push through with the acquisition of the majority of stake in a Vietnam property firm.
DBS Country Head Shee Tse Koon has apologised for the disruptions.
Only two in five Singaporean internet users are aware of NFTs.
October postings were up by 76% from February 2021.
Three of the four initiatives were spearheaded by Enterprise Singapore.
The agreement comprises two payments.
MTI cited four downside risks that will affect the economy's growth next year.