The HDB marketing process commences with the seller registering an "Intent to Provide" to the HDB Flat Portal, which gives an eligibility check, EIP/SPR quota for that block, and up to date transaction rates for close by flats. This intent is legitimate for twelve months. Following a seven-working day cooling-off interval, the vendor can grant an Option to get (OTP) to the buyer for an option price of S£1 to S$1,000, which is legitimate for 21 times. The seller and customer then submit their respective areas of the resale application about the HDB portal, shelling out an administrative fee of S£40 for one- and a couple of-home flats or S£80 for three-home and bigger flats. HDB will then verify the documents, and acceptance is typically granted in just two months In spite of everything files are endorsed on-line. Your entire process culminates inside a resale completion appointment, normally about eight weeks immediately after HDB accepts the resale software, where by keys are handed above and remaining authorized paperwork are signed. For the duration of the method, sellers have to refund all CPF money utilized click here for the purchase, which includes accrued curiosity, and pay off any exceptional housing loans from the sale proceeds.