The HDB advertising system starts with the seller registering an "Intent to Market" over the HDB Flat Portal, which offers an eligibility Verify, EIP/SPR quota for your block, and up to date transaction prices for close by flats. This intent is valid for 12 months. Following a 7-day cooling-off interval, the seller can grant a choice to buy (OTP) to a consumer for a choice charge of S£1 to S$1,000, that is legitimate for 21 days. The vendor and buyer then post their respective elements of the resale click here software within the HDB portal, paying an administrative price of S£40 for 1- and a pair of-room flats or S$80 for three-room and larger flats. HDB will then confirm the files, and acceptance is often granted inside of two months In any case paperwork are endorsed online. Your entire system culminates inside a resale completion appointment, normally about eight weeks immediately after HDB accepts the resale software, where by keys are handed more than and remaining legal documents are signed. Throughout the process, sellers need to refund all CPF money used for the acquisition, including accrued desire, and repay any fantastic housing loans in the sale proceeds.