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1) If I engage HDB lawyer to conveyance my late parent's HDB flat, do I need to open an estate bank account to deposit the cheque for the sale proceed?

2) What if I engage a private lawyer, can they handle the distribution of sales proceeds to the beneficiaries according to the Will without having to open an estate bank account?
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8 Answers

Hi there, before you are able to transact your late parents property, there are some steps you have to undertake with HDB according to your late parents will. All proceeds will actually goes to a Bank account under your late parents estate and a administrator/executor appointed by the will will then distribute the proceed accordingly. I have actually handle quite a few similar case and will be happy to assist you accordingly. Do drop me a call or whatsapp for a more detailed discussion. Thanks and Regards
Rix Jim
 9687 1379 
PN Read More
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Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, yes both HDB as well as the private law firm would be able to assist you on that.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Hi Jos,

1) HDB will only issue the sale proceeds in the name of the Estate. so yes you will need to open an estate account with the bank to deposit the sale proceeds

2) Both parties (i.e. buyer and seller) have to engage a law firm if the executor/ administrator wish to have the sale proceeds issued directly to the beneficiaries, without the estate bank account. Typically the buyer will not want to spend this extra cost if possible, so you may need to cover the extra cost for them. Or the agent needs to specifically look for buyers who are engaging law firm to act for their purchase (ie. those who take bank loan).

I am contactable at 97432395  for further discussion. Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

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Hi Jos,

You are right on the conveyancing part by HDB that they will only issue the proceeds in form of cashier's order under the estate name thus you will need to open a bank account. If you wish to cut out this portion, both seller and buyer will need to engage a private law firm to manage this if you wish to have the proceeds pay out direct to the beneficiaries.

I will suggest to proceed with using HDB conveyancing and allow the estate lawyer to manage the paying out as some buyers are very sensitive to such arrangement, thinking that such arrangements are negative vibes. Read More
1
Robbie Chen Chee Howe
Hi Jos,

Yes, you will need to open an estate bank account to bank in the cheque, as it's in the estate that HDB will issue the cheque for.

Yes, it is possible to engage a conveyancing lawyer to handle these matters for you.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More
1
Hi Jos,

I have personally handled many estate sale before and will be happy to assist you further.

1) Yes it is a requirement to open an estate account to deposit the sale proceeds.

2) I personally will still recommend opening an estate account as it will be easier for the buyer side and may lead to less complications during the conveyancing process as the buyers may be using a HDB lawyer.

Please contact me so that I can give you an overview of the process and highlight to you the important factors to take note of!

Regards,
Nick Tan
(M) +65 96 44 48 54
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
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IF you Need Further Help For Property such as Renting / Selling / Buying or Investing ,...

I am Sorry that This platform does not allow me to direct contact you.

To further assist you, please feel free to contact me via WhatsApp at 9856 9255  or through this link: https://wa.me/6598569255.

My services come with no obligations, and I'm here to help with any questions or assistance you need.

You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份) :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: +65 9856 9255  or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT :)

“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”

XXXXX The END XXXXXXX Read More
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