The HDB providing procedure 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 period, the seller can grant a possibility to acquire (OTP) to your customer for a choice fee of S£1 to S$1,000, which is legitimate for 21 times. The seller and consumer then submit their respective portions of the resale application around the HDB portal, shelling out an administrative price of S£40 for 1- and 2-area flats or S£eighty for 3-area and bigger flats. HDB will then verify the documents, and approval is often granted inside of two months In spite of everything documents are endorsed on the internet. The whole procedure culminates inside of a resale completion here appointment, ordinarily about 8 months immediately after HDB accepts the resale software, where by keys are handed more than and remaining legal documents are signed. For the duration of the process, sellers should refund all CPF cash useful for the purchase, including accrued curiosity, and repay any excellent housing loans with the sale proceeds.