The HDB promoting process starts with the vendor registering an "Intent to Offer" around the HDB Flat Portal, which gives an eligibility Test, EIP/SPR quota for that block, and up to date transaction selling prices for close by flats. This intent is valid for twelve months. Following a 7-working day cooling-off interval, the seller can grant a choice to buy (OTP) to some consumer for a possibility price of S$1 to S£1,000, which is legitimate for 21 days. The vendor and buyer then submit their respective aspects of the resale application on the HDB portal, spending an administrative payment of S£forty for 1- and a pair of-home flats or S$80 for three-room and larger flats. HDB will then validate the documents, and approval is usually granted in just two weeks In fact more info documents are endorsed on the web. The entire approach culminates inside of a resale completion appointment, normally about 8 weeks immediately after HDB accepts the resale software, exactly where keys are handed above and remaining legal documents are signed. For the duration of the method, sellers ought to refund all CPF cash employed for the purchase, like accrued curiosity, and pay off any excellent housing loans from the sale proceeds.