HDB Resale procedures of seller :
Negotiate and agree on the resale price
Check list of buyer
- Buyers have to complete the Resale Checklist before exercising the Option, Buyer checklist valid for 6 months
Check list of seller – Sellers need to complete and submit the checklist to HDB online via the “Resale Checklist for Seller/Buyer e-Service” through SingPass and click on the “Submit New Checklist” button at least 7 days (cooling period) before seller grant the Option to Purchase (OTP) to the flat buyer. Seller need to provide the address of next housing. If seller is planning to buy another HDB flat,seller will have to work out the estimated sale proceeds from selling his/her flat and the estimated financial plan for next flat purchase. A copy of acknowledgement page with a checklist serial number will be sent to seller's email address upon successful submission of the checklist. For sellers who have not engaged the services of a salesperson.
Loan Eligibility Letter (HLE) or Letter of Offer from a bank (HLE is available to Singapore Citizens). Buyer who intends to get a HDB housing loan must have an HDB Loan Eligibility Letter ((HLE: is available to Singapore Citizens only) which is valid for 6 months. Buyer is advised to obtain the HLE letter even before they look for a flat. Those who wish to get a bank loan must have a Letter of Offer (for Singapore Permanent Residents) from a bank when they exercise the OTP.
When entering the OTP (Option To Purchase):
• You and the buyers must declare the true resale price of the flat to HDB
• Salespersons (if any) must also declare all relevant information relating to the resale transaction in theSalesperson Statutory Declaration. The penalty for false declaration includes a fine and/ or up to 3 years' imprisonment.
You and the buyers must not enter into any of the following:
• Supplementary/ other agreements
• Arrangements that may cause the true resale price as declared to be inflated or understated
The penalty for false information includes a fine of up to SGD$5,000 and/ or up to 6 months’ imprisonment.
You grant the OTP to the buyers
You can only grant an OTP to buyers at least 7 days after going through the Resale Checklist. You should use this cooling-off period wisely and consider the housing options available to you.
If you decide to sell your flat, you may grant an Option to the buyers, to sell the resale flat at the agreed resale price.
You or the buyers must fill in these sections in the OTP:
• Option Date
• Flat address
• Purchase price (resale price of the flat)
• Option Fee ($1 - $1,000)
• Option Expiry Date (21 calendar days from the Option Date [including Saturday, Sunday and public holidays].
E.g. If seller grants Option to you on 1 Apr, the Option will expire on 22 April at 4pm)
• Names and NRIC numbers of all the sellers and buyers
• A witness must sign on the OTP (your salesperson or any person who is a Singapore Citizen or Singapore Permanent Resident aged 21 years or above and not involved in the resale transaction)
You are required to sign on the OTP in exchange for an Option Fee from the buyers. The Option Fee should be a sum between $1 to a maximum of $1,000, to be negotiated between you and the buyers.
Once you have granted the Option to the buyers, you cannot grant an Option to another buyer until it expires.
• Only flat buyers or their salespersons can submit a request for valuation. The request can only be submitted after the sellers have granted the buyers an OTP
Buyers exercise the OTP if they wish to proceed with the purchase
The Option period is 21 calendar days (including Saturday, Sunday and public holidays) from the date of granting the OTP (refer to Step 2). It expires at 4pm on the 21st calendar day.
If the flat buyers wish to purchase the flat, they have to exercise the Option within the Option Period. To exercise the Option, you or the buyers must fill in:
• Clause 6.1 (c) on page 2 of the OTP: Option Exercise Fee
• Clause 12 on page 4 of the OTP: Number of days from the date of exercising the Option that you and the buyers have agreed to submit the resale application to HDB
• Bottom half of page 8 of the OTP: All buyers must sign on the "ACCEPTANCE" section in the OTP. A witness must sign on the OTP (their salesperson or any person who is a Singapore Citizen or Singapore Permanent Resident aged 21 years or above and not involved in the resale transaction)
When the buyers exercise the OTP, the buyers will need to pay a deposit to you. The deposit, including the Option Fee previously paid in Step 2, must not exceed $5,000 in total. The amount of deposit is negotiated between you and the buyers.
Let the OTP expire if the buyers do not wish to proceed with the purchase
If the buyers do not wish to proceed with the purchase, that is, exercise the OTP, you need not do anything but wait for the Option Expiry Date to lapse. The buyers will forfeit the Option Fee previously paid in Step 2; you may keep the Option Fee.
Decide when to submit the resale application
After the buyers have exercised the Option, you and the buyers have to decide when both of you wish to submit a resale application to HDB. Your portion of the resale application and the buyer's portion of the resale application must be submitted within 7 days of each other. Besides that, both portions must be submitted within the previously agreed number of days on page 4 of the OTP.
You and the buyers (or their salesperson) have to submit the respective portions of the resale application separately. A resale application is deemed complete only when the HDB receives both portions of the resale application. You and the buyers should ensure that all the prevailing eligibility conditions and resale requirements are met, on the date the second party submits his portion of the resale application.
HDB’s inspection of the flat. After HDB received the seller’s application, HDB needs to inspect the flat for unauthorized renovation works in the flat that may damage HDB property and affect the structural stability of the flats or building. The inspection is not to find out the value of the flat. Seller will be informed of the inspection date in the resale First Appointment letter.
HDB First Appointment. Application Form, statutory declarations (must be signed in the presence of a Commissioner of Oaths or Notary Public, Undertakings during First Appointment. Original IC and one copy of it. Copy of lease. POA if applicable. Deed of separation or Interim Judgment (previously known as Decree Nisi) and Certificate of Making Interim Judgment Final (previously known as Decree Nisi Absolute). HDB will mail the approval letter for the resale purchase transaction to the seller and buyer within 2 weeks after the First Appointment.
HDB Completion Appointment. There are totally two appointments must be attended by buyer and seller personally. Completion Appointment is generally scheduled about 6 to 8 weeks from the date of the First Appointment.