The HDB advertising approach commences with the vendor registering an "Intent to Offer" over the HDB Flat Portal, which provides an eligibility check, EIP/SPR quota for the block, and up to date transaction price ranges for close by flats. This intent is valid for 12 months. Following a 7-working day cooling-off interval, the vendor can grant a choice to Purchase (OTP) to the customer for an option rate of S£1 to S$1,000, that is legitimate for 21 days. The vendor and purchaser then post their respective parts of the resale application on the HDB portal, shelling out an administrative payment of S£40 for 1- and a couple of-space flats or S£eighty for 3-area and bigger flats. HDB will then verify the paperwork, and acceptance is usually granted within two weeks In the end paperwork are endorsed on-line. All the process culminates inside a resale completion appointment, typically about eight months following HDB accepts the resale application, exactly where keys click here are handed more than and remaining legal documents are signed. In the course of the method, sellers need to refund all CPF money utilized for the purchase, including accrued desire, and pay back any remarkable housing loans from your sale proceeds.