The HDB advertising procedure commences with the seller registering an "Intent to Sell" over the HDB Flat Portal, which supplies an eligibility Verify, EIP/SPR quota with the block, and recent transaction charges 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 a choice price of S£1 to S£1,000, which is legitimate for 21 times. The vendor and customer then submit their respective portions of website the resale software to the HDB portal, shelling out an administrative charge of S£forty for 1- and 2-room flats or S£80 for 3-home and bigger flats. HDB will then confirm the paperwork, and acceptance is typically granted within just two months In spite of everything documents are endorsed on the web. The entire approach culminates inside of a resale completion appointment, typically about 8 months after HDB accepts the resale application, the place keys are handed over and remaining legal paperwork are signed. All through the process, sellers should refund all CPF money employed for the acquisition, including accrued interest, and pay off any fantastic housing financial loans with the sale proceeds.