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Buy in the Secondary Market

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Step 1: Flats Available in the HOS Secondary Market

Both Home Ownership Scheme and Tenant Purchase Scheme flats that are aged over two years from the day of the first assignment are available for sale in the HOS Secondary Market.
Step 2: Who Can Buy Flats in the HOS Secondary Market?

Only those who meet certain eligibility criteria can purchase a flat in the HOS Secondary Market. However, those who had enjoyed certain subsidized housing benefits before, cannot buy in the Secondary Market.

Step 3: Make Reference to Past Transactions

Before deciding whether to buy a flat in the HOS Secondary Market, why not take a look at the past transaction records to get a better idea of the price range? Generally speaking, transaction prices in the open market should be higher than similar flats sold in the Secondary Market because flats sold in the open market have already had their premium paid. Pay special attention to this when you look for a suitable flat through real estate agents.

Step 4: Get the Necessary Documents

When you have decided to purchase a flat in the Secondary Market, make sure you have prepared all the necessary documents such as Certificate of Eligibility to Purchase and understand the application details.

Step 5: Close the Deal

After getting the Certificate of Eligibility to Purchase, you can either conclude the deal through a real estate gent or negotiate directly with the seller. You should choose your representing solicitor to apply for the Nomination Letter from the Housing Department and execute the assignment. At the same time, you should approach a participating bank for mortgage arrangements.

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Last revision date: 17 August 2006