The HDB promoting procedure starts with the vendor registering an "Intent to Offer" on the HDB Flat Portal, which gives an eligibility Check out, EIP/SPR quota for that block, and up to date transaction price ranges for close by flats. This intent is valid for 12 months. Following a 7-day cooling-off interval, the vendor can grant a choice to buy (OTP) to a buyer for a possibility cost of S$1 to S£1,000, which happens to be valid for 21 times. The seller and consumer then submit their respective parts here of the resale application on the HDB portal, shelling out an administrative price of S£40 for 1- and a couple of-space flats or S£eighty for 3-place and bigger flats. HDB will then verify the paperwork, and acceptance is typically granted within just two weeks In fact documents are endorsed on the net. The complete process culminates in the resale completion appointment, usually about 8 months right after HDB accepts the resale application, wherever keys are handed more than and remaining legal documents are signed. For the duration of the procedure, sellers will have to refund all CPF resources useful for the acquisition, including accrued desire, and pay back any superb housing loans from your sale proceeds.