IMPORTANTNOTESONOPTIONTOPURCHASE

Sellers and buyers of resale HDB flats are advised to read these notes and the clauses of the Option to
Purchase before completing the form and entering into a sale and purchase contract.
1.

HDBprescribedOptiontoPurchase

SellersandbuyersofresaleflatsmustusetheHDBprescribedOptiontoPurchase(OTP)astheformof
contractinresaletransactions.Nopartyisallowedtoenterintoanyotheragreementpertainingtothesale
andpurchaseoftheflatasitisnullandvoidpursuanttotheHousingandDevelopmentAct.

BelowaretheprescribedOptionFee,DepositandOptionPeriod:

OptionFee

Anamountnotexceeding$1,000

Deposit

Anamountnotexceeding$5,000
(OptionFee+OptionExerciseFee=Deposit)

OptionPeriod -

21calendardays(includingSat/Sun&publicholidays)aftertheOptionDate.[E.g.If
the seller grants an Option to the buyer on 1 April 2014 (Tuesday), the Option will
expireon22April2014(Tuesday).TheOptionexpirytimeisstandardisedat4pm.]

2.

GetprescribedOptiontoPurchaseFormfromHDBInfoWEB

The prescribed Option to Purchase form shall be downloaded from the HDB InfoWEB
(www.hdb.gov.sg).Noamendmentsmaybemadetotheprescribedform.Amendmentsinclude(butare
notlimitedto)deletions,insertionsoralteringanyprovisionintheprescribedOptiontoPurchaseform.

3.

ResaleChecklist

TheResaleChecklistfacilitatessellersandbuyerstomakebetterinformedandprudentdecisionsbefore
they commit to sell or buy HDB flats. Sellers should consider carefully and plan for their next housing
before selling their flats. Buyers should be aware of the key issues before they commit to the flat
purchase.

SalespersonsengagedbysellershavetogothroughtheResaleChecklistwiththesellersatleastseven
(7)daysbeforethesellersgrantanOTPtothebuyers.Sellerswhodonotengageasalesperson,i.e.DIY
sellers, must also complete the Resale Checklist and observe the 7-day cooling-off period before they
grant the OTP. The Resale Checklist can be completed and submitted to HDB online together with the
financialcalculations(ifthesellersintendtobuyanotherflat).

Salespersonsengagedbybuyers and DIY buyers have tocomplete and submit the ResaleChecklist to
HDBonlinebeforethebuyersexercisetheOTP.

DetailsontheResaleChecklistcanbeobtainedfromtheHDBInfoWEB(www.hdb.gov.sg).

4.

ValuationofFlat(Clause 4 of OTP)

Buyers who are financing the purchase of the flat with a housing loan from HDB/bank and/or their CPF
savingsmusthaveavaluationoftheflatdonebyaprivatevaluerassignedbyHDB.

Only buyers who have been granted an OTP shall submit a request for valuation. Buyers must (by
themselvesorthroughtheirsalesperson)submitthevaluationrequestbythenextworkingday*afterthe
OptionDate. Asrequiredunder Clause 4.1(b) ofthe OTP,scanned copies ofpage 1and page8ofthe
OTPmustbeattachedwiththerequest.(*MondaytoSaturday,whichisnotaPublicHoliday)

Sellersmust,withinfour(4)workingdays*afterthedaythebuyerssubmitthevaluationrequest,allowthe
HDBappointedvaluertoentertheflattoassessthevalueoftheflat.

Thevalueoftheflatisonlyapplicabletoeachvaluationrequestandisnon-transferabletoorvalidforuse
inanotherresaletransactioninvolvingthebuyersunderadifferentOTPforthesameflatorotherbuyers
oftheflat,forwhichanewrequestforvaluationmustbesubmitted.

5.

HousingLoan

BuyerswhointendtogetanHDBhousingloanmusthaveanHDBLoanEligibility(HLE)Letter(whichis
validfor6monthsfromthedateofissue)whentheyexercisetheOTP.Buyersareadvisedtoobtainthe
HLElettereven beforetheylookforaflat.

ThosewhowishtogetabankloanmusthaveaLetterofOfferfromabankwhentheyexercisetheOTP.

BuyerswhodonotrequireanyhomeloantobuytheHDBflathavetoindicatethattheyarefinancingthe
purchasefullywiththeirCPFsavingsand/orcashwhentheysubmittheirresaleapplicationtoHDB,and
mayneedtoproducedocumentaryprooftoshowthattheyhavethefinancialmeanstopurchasetheflat.

TheprocedureisHDB'son-goingefforttoinculcatefinancialplanningandprudenceamongflatbuyers.

6.

SellersneedtomeetMinimumOccupationPeriodbeforegrantingtheOption(Clause 3 of OTP)

SellersmusthavemettheminimumoccupationperiodfortheflatbeforegrantingtheOTP,otherwisethe
OTPenteredintowillbenullandvoid.Sellerscanapplyforaconfirmationatwww.hdb.gov.sg>
e-Services>Sellingyourflat>RequestforConfirmationofEligibilitytoSellYourHDBFlat.

7.

DeclaredResalePrice

Sellers and buyers must declare to HDB the true resale price of the flat. They shall not enter into any
supplementaryor other agreements orarrangementsthat may cause the resale price asdeclared to be
inflatedorunderstated.

8.

ProcedureinusingOptiontoPurchase

Theprocedureforenteringintoabindingcontractforaresaletransactionisasfollows:

a.

SellersgranttheOptiontoPurchase(Option)

ThesellersgrantanOptiontothebuyerstopurchasetheflatattheagreedresalepriceandforan
Option Period of 21 days during which the sellers cannot sell the flat or make an offer to other
buyers.TheOptionmustbesignedbyallthesellers(on page 8 of the OTP)beforeitisgrantedto
thebuyers.

b.

BuyerspaytheOptionFee

Inexchange,thebuyerspayanOptionFee(preferablyinacheque)tothesellers.Thebuyershave
upto21days toexercise theOption.Duringthatperiod,thebuyerscancheckthathehasavalid
HDBLoanEligibilityLetterorabank'sLetterofOffer;ormakeotherarrangements/enquiriesrelating
tothepurchase.

c.

BuyersexercisetheOption

If the buyers decide to purchase the flat, the buyers must exercise the Option within the Option
Period.ToexercisetheOption,thebuyersmustdoallofthefollowing:-

(i)

signthe Acceptanceportioninpage8oftheOTP(thebuyersmustensurethatthedate
ofissueoftheHDBLoanEligibilityLetterorbank'sLetterofOfferisbeforethedateof
Acceptance),

(ii)

deliverthesignedOptiontoPurchasetotheSellers*,and

(iii)

payasumcalledOptionExerciseFeetotheSellers.

TheAcceptancemustbesigned byallthebuyers.Forrecordpurposes, thebuyersareadvisedto

obtain a signed acknowledgement from the sellers on the buyer's copy of the Acceptance, stating
thedateandtimeofexerciseoftheOption.

Upon exercise of the Option to Purchase, the sellers and the buyers enter into a binding
contractforthesaleandpurchaseoftheflat.

*Thesellerscanappointanotherpersonorafirm(e.g.solicitors'firmorestateagent)toreceivethe
signedOptionandtheOptionExerciseFeebycompletingtheAuthorisationForm(FormA)provided
intheOTP.Theappointed personorfirmshouldbeeasilycontactable.Iftheauthorisedpartyisa
salespersonofanestateagent,itisadvisablethatthepaymentoftheOptionExerciseFeebemade
inachequepayabletothesellers,assalespersonsarenotallowedtoreceivecashfortheirclients.
If the authorised party is a solicitor or a solicitors' firm, the Option Exercise Fee must be made in
favourofthesellersassolicitorsarenotallowedtoreceiveandholdtheirclient'smoney.

9.

AmounttobestatedfortheOptionFeeandOptionExerciseFee

SellersandbuyersmuststateanamountfortheOptionFeeandOptionExerciseFee.Neitherfeecanbe
$0.ThisistoensurethatthereisavalidOptionorcontract.TheOptionFeeandOptionExerciseFeewill
formthe"Deposit"forthepurchaseoftheflat.

10.

WitnessforSignature

AwitnesstotheOTPcanserveasproofthatacontracthasbeenenteredinto.Sellersandbuyerscanget
theirsalesperson(iftheyhaveengagedone)oranyoneabovetheageof21towitnesstheirsignatures.
ThewitnessneednotbepresentfortheHDBappointments.

11.

Englishversiontobesignedbyparties

SellersandbuyersmustensurethattheysignonlyontheEnglishversionoftheOptiontoPurchase.HDB
willonlyaccepttheEnglishversionoftheOptiontoPurchase.

12.

InventoryList(Clause 10.2 of OTP)

An inventory list (optional) on movable property, fittings and other items (e.g. furniture, air-conditioning
units) may be completed and signed by the sellers and buyers. The prescribed form is available in the
ScheduleattachedtotheOptiontoPurchase.

13.

LiabilityofPaymentforUpgradingCost(Clause 11 of OTP)

For flats under HDB's UpgradingProgrammes,whoeveris theflat owner asatthe dateofbilling has to
paytheupgradingcost.

Ifthedateofbillingisbeforecompletionoftheresaletransaction,thesellerhastopaytheupgrading

cost.

ThebuyersareadvisednottowaittillthelasthourtoexercisetheOptionastheOptionwillexpireif
thebuyersforanyreasonfailtoexercisetheOptionwithintheOptionPeriod.Ifthe buyersdecide
nottoproceedwiththepurchase,theycanlettheOptionexpireandloseonlytheOptionFee.

Ifthedateofbillingisaftercompletionoftheresaletransaction,thebuyerhastopaytheupgrading
cost.

YoumaycheckthescheduleofbillingdatesforthecompletedprecinctsattherespectiveHDBBranchor
fromHDB'swebsiteatwww.hdb.gov.sgunderHome>LivinginHDBFlats>UpgradingProgrammes.

14.

SubmissionofResaleApplicationandCompletionDate(Clauses 12 and 13 of OTP)

SellersandbuyersaretomutuallyagreeonwhentosubmittheirportionoftheresaleapplicationtoHDB
andensurethatthecompleteresaleapplicationissubmittedwithinthetimeframetheyhaveagreed.After
theapplicationisregisteredbyHDB,theywillattendaFirstAppointmentattheHDBResaleOffice.The
OTP provides that the Completion Date will be within 8 weeks from the date of the First Appointment,
unlessextendedbytheHDB.

15.

NoSupplementalAgreement

Sellersandbuyersmustnotenterintoanyotheragreementorsupplementalagreement.Theymustalso
notmakeanyarrangementorpromisesorenterintoanyagreementforthe,

a.

paymentofanyfurthersumsofmoneywhilewaitingforthecompletionoftheresaleoftheflat;or

b.

purchaseordisposaloftheflatwithanyotherperson.

16.

AdditionalHighlightsforResaleFlatSellersandBuyers

ForSellers:

a.

Make sure youareeligible tosell your flatinthe openmarket, eg. meet theminimum occupation
period and your buyer can comply with the Ethnic Integration Policy and Singapore Permanent
ResidentQuotaPolicywhensubmittingtheresaleapplication.

b.

Calculatetheestimatedproceedsyouwillgetfromthesale.Notethat:-

(i)

If the resale price is not enough to settle your outstanding loan, you will have to pay the
shortfallincashbeforetheresaletransactioncanproceed.

(ii)

If the resale price can cover the outstanding loan but is not enough for the refund of CPF
money,thecashdeposityoureceivedwillhavetobeusedforrefundtoyourCPFaccount.

c.

Youaretosettleanyoutstandingupgradingcostinfullbeforetheresaletransactioncancomplete.
Forflatsundergoingresale,CPFmembersarenotallowedtowithdrawtheirCPFsavingstopayfor
theoutstandingupgradingcost.Theamountwillbedeductedfromthecashproceeds,ifany.

d.

Before sellingyour flat,youareadvised toplanforyour nexthousing. Youmaywishtonote that

ex-HDB flat owners are not eligible to apply for a rental flat from HDB immediately after selling
their flat. HDB rental flats are meant for low-income citizen households who cannot afford to buy
flatsandhavenootherhousingoptions.

ForBuyers:

a.

Makesureyoucanbuyaresaleflatunderoneoftheeligibilityschemesandthatyoucancomply
with the Ethnic Integration Policy and Singapore Permanent Resident (SPR) Quota Policy when
submittingtheresale application.SPRhouseholds mayonly buyaflatafter obtaining SPRstatus
foratleast3years.

b.

Ensurethatyouhavesufficient funds(CPF/cash/housingloan)tobuyaflat.Takenotethatthere
arerestrictionsontheuseofCPFandHDBloanifyouarebuyingaflatwithremainingleaseofless
than 60 years. Banks/financial institutions also consider the lease period of properties in granting
homeloans.Dofinancialplanningandbuyaflatwithinyouraffordability.

c.

CheckifyouareeligibleforanHDBconcessionaryhousingloan,oryouneedtogetabankloanfor
thefinancing.WhetheryouaregettingaloanfromHDBorfromabank/financialinstitution,findout
theloanamountyoucangetbyobtaininganHDBLoanEligibilityLetterorabank'sLetterofOffer
beforeyoucommittothepurchase,ascreditassessmentwillbecarriedout.

d.

Design,BuildandSellScheme(DBSS)flatsareHDBflatswhichweredesigned,builtandsoldby
privatedevelopers.AnyreferencetoHDBflatshallincludeDBSSflat.EachDBSSdevelopmentis
characterizedbyitsowndistinctiveexternalfeatures.Tomaintaintheaestheticappearanceofeach
development and to be in line with URA's Gross Floor Area (GFA) Incentive Scheme, specific
renovation restrictions apply to DBSS flats, including restrictions that apply to the balcony, airconditionerledge,planterboxesandserviceyard.

You must check the HDB InfoWEB (www.hdb.gov.sg) for all the renovation guidelines and
restrictionsthatapplytoDBSSflats,includingbutnotlimitedtothetypeofrenovationsyoucanor
cannot do at/to the balcony, air-conditioner ledge, planter boxes, bay window and service yard,
beforeyoubuyone.OnceyouhaveexercisedtheOptiontoPurchase,youwillbeboundbyallthe
renovationrestrictionsapplicabletotheDBSSflat.HDBreservestherighttoamendtherenovation
restrictionsthatapplywithoutpriornoticetoyouinlinewiththeprevailingpoliciesofHDBandthe
relevantauthorities.

Section60ofHousing&DevelopmentAct

ItisanoffenceforanypersontogivefalseinformationtoHDBinrelationtothebuying/sellingofanHDB
flat.Anypersonwhogivesfalseinformationshallbeguiltyofanoffenceandshallbeliableonconviction
toafinenotexceeding$5,000ortoimprisonmentforatermnotexceeding6monthsorboth.

Updated10March2014

StandardContractforResaleofHDBFlat

OPTIONTOPURCHASE

OptionDate

:___________________________

Flataddress

:____________________________________________________________("Flat")

1.Details

PurchasePrice

$__________________________

("PurchasePrice")

OptionFee
(Uptoamaximumof$1,000)

$__________________________

("OptionFee")

OptionExpiryDateandTime
On ________________ (dd/mm/yy)
("OptionExpiry")
(Date: State 21st calendar day starting at4:00p.m.
aftertheOptionDate)

Seller

Buyer

Name

NRICNumber

(1)

(2)

(3)

(4)

(1)

(2)

(3)

(4)

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2.

OptiontoPurchase

2.1 TheSellerhasreceivedtheOptionFeefromtheBuyer.
2.2 In consideration of the Option Fee, the Seller grants to the Buyer the option to buy the Flat upon the
termssetoutinthisOptiontoPurchase("Option").
3.

ConfirmationbySeller

3.1 TheSellerconfirmsthatasattheOptionDate,hehaseither ---

(a) satisfiedtheminimumoccupationperioddeterminedbytheHDB;or

(b) notsatisfiedtheminimumoccupationperiodbuthasobtainedtheHDB'spriorwrittenconsentfor
thesaleoftheFlat.

3.2 IftheSellerhasnotmettherequirementinClause3.1,thisOptionwillbenullandvoid.TheSellerwill
returntotheBuyeranymoneyspaidbytheBuyertotheSeller,whetherornottheBuyerhasexercised
thisOption.TheBuyermaypursueanyotherclaimhemayhaveagainsttheSeller.
4.

RequestforValuation

4.1 WheretheBuyerintendstofinancethepurchaseoftheFlatusinghisCPFmoneysoramortgageloan
orboth,theBuyermust,bythenextworkingdayaftertheOptionDate,submittotheHDB --(a) arequest,intheformandmannerrequiredbytheHDB,tohavethevalueoftheFlatassessed

byavaluerappointedbytheHDB("ValuationRequest"),and
(b) acopyofthisOption.

4.2 TheSellerconsentstotheBuyersubmittingtheValuationRequesttotheHDB.
4.3 The Seller must, within 4 working days after the day the Buyer submits the Valuation Request to the
HDB,allowavaluerappointedbytheHDBtoentertheFlatatanytimeinthedaytoassessthevalueof
theFlat.

5.

ExpiryofOption

ThisOptionwillexpireontheOptionExpiry.IftheBuyerdoesnotexercisethisOptioninthemannerset
outbelow,thisOptionwillbenullandvoid.

6.

ExerciseofOptionbyBuyer

6.1 ToexercisethisOption,theBuyermustdoallofthefollowingonorbeforetheOptionExpiry:

(a) signthe"Acceptance"inthisOption;
(b) deliverthesignedOption(originalcopy)totheSeller*;and
(c) paytheSeller$______________("OptionExerciseFee").
TheOptionFeeandtheOptionExerciseFeetogether("theDeposit")mustnotexceed
$5,000.
*If the Seller wishes to authorise another party to receive the signed Option and Option Exercise Fee, he
must complete Form A in this Option.

6.2 This Option and the Acceptance signed by the Buyer will form a binding contract for the sale and
purchaseoftheFlat.TheDepositwillformpartofthePurchasePricetosecuretheperformanceofthe
termsandconditionsinthisOptionandcompletionofthesaleandpurchase.
7.

Non-ExerciseofOption

If the Buyer does not exercise this Option in the manner stated inthis Option, and provided the Seller
hasmettherequirementinClause3.1---(a) theSellerisentitledtoretaintheOptionFee;and

(b) neitherpartywillhaveanyclaimagainsttheother.

8.

BuyernottoassignthisOption

TheBuyermustnotassignortransferhisrightsorobligationsunderthisOptiontoanyotherperson.

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TermsandConditionsforSaleandPurchase

9.

General

9.1

InthisOption ---

"CompletionDate"meansthedateonwhichcompletionofthesaleandpurchaseoftheFlatistotake
placeinaccordancewithClause13;

"CPF"meanstheCentralProvidentFundestablishedundertheCentralProvidentFundAct(Cap.36);

"HDB" means the Housing and Development Board established under the Housing and Development
Act(Cap.129);

"Law Society Conditions" means the conditions of sale known as "The Law Society of Singapore's
ConditionsofSale1999";

"Seller" and "Buyer" include the Seller's and Buyer's personal representatives, successors-in-title and
assigns;

"workingday"meansanydayfromMondaytoSaturdaywhichisnotapublicholiday.

9.2

Wordsexpressingthesingularincludethepluralandviceversa.

9.3

Wordsreferringtothemalegenderincludethefemalegender.

9.4

If there is more than one Seller or more than one Buyer, their obligations under this Option can be
enforcedagainstthemalljointlyoragainsteachofthemindividually.

10.

Agreementforsaleandpurchase

10.1 TheSellersellstotheBuyer,freefromallencumbrances,theremainingleaseholdinterestintheFlatat
thePurchasePrice.
*10.2 The sale includes the movable property, fittings and other items ("Movable Property") in the Flat as
listed in the Schedule attached to this Option and signed by the parties. The Seller warrants that the
MovablePropertyishisownpropertyfreefromanyrentalagreement,hirepurchaseagreementorother
thirdpartyinterest.

*Delete if not applicable.

10.3 TheFlatissoldsubjectto---

(a) theHousingandDevelopmentAct(Cap.129)andanyrulesmadeundertheAct;

(b) thetermsandconditionsofsaleandpurchaseofanHDBresaleflatasprescribedbytheHDB
fromtimetotime;

(c) thepoliciesoftheHDBinforcefromtimetotime;

(d) thetermsandconditionsofthisOption;

(e) theconditionsintheLawSocietyConditionswhich---

(i)applytoasalebyprivatecontract;and

(ii)arenotvariedbyorinconsistentwiththetermsandconditionsinthisOption;and

11.

(f) the terms, covenants and conditions in the Agreement for Lease, Lease and Memorandum of
Leaseincludinganyvariationorsupplementofsuchdocuments.
Liabilityforupgradingworks

11.1 TheFlatissoldsubjecttotheHDB'supgradingprogrammes.
11.2 The parties are aware that under section 65F of the Housing andDevelopment Act, the owner of the
Flat,asatthedateoftheHDB'swrittendemand,isliabletopaytotheHDBthecostsofanyupgrading
worksthatarepayablebytheownertotheHDBunderPartIVAofthatAct.
11.3 OncethesaleandpurchaseoftheFlatiscompleted,theBuyerisregardedastheowneroftheFlat.

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StandardContractforResaleofHDBFlat

12.

ApplicationforHDB'sapproval

The Seller and Buyer will within _________ calendar days after the date of exercise of this Option,
jointlyapplytotheHDBforitsapprovalforthesaleandpurchaseoftheFlat.

13.

CompletionDate

Unlessextended bythe HDB, theCompletionDate will bewithin 8weeksafterthe date oftheHDB's

firstappointmentwiththeSellerandBuyerforthesaleandpurchaseoftheFlat.

14.

Seller'sobligations

14.1 TheSellermust,within7workingdaysaftertherequestoftheHDBortheBuyer'ssolicitor---

(a) producesuchdocuments;

(b) signsuchdocuments;

(c) makesuchdeclarations;or

(d) providesuchinformation,

totheHDBortheBuyer'ssolicitor,asmayberequiredtoobtaintheHDB'sapprovalforthesaleofthe
Flat.

14.2 TheSellermustallowtheHDB,oranyofitsauthorisedofficers,toentertheFlatatanytimeintheday
tocheckforunauthorisedworksorforsuchotherpurposesasmayberequiredbytheHDB.
14.3 TheSellermustcarryoutsuchactsandsignsuchdocumentsastheHDBortheBuyer'ssolicitormay
directtodischargeanyexistingmortgage,charge,thirdpartycaveatorotherencumbrancewithrespect
totheFlatonorbeforecompletion.

14.4 TheSellermustathisowncostbeforetheCompletionDate---

(a) takedownandremoveallfixtures,fittings,structuresorworksdonewithintheFlatnotapproved
bytheHDB;

(b) repairandmakegoodanyresultingdefectsintheFlat;and

(c) removeanddisposeofallresultingsurplusorwastematerialsfromtheFlat.

14.5 TheSelleragreestotakesuchstepsastheBuyermayreasonablyrequesttohelptheBuyerobtainthe
HDB'sapprovalforthepurchaseoftheFlat.
14.6 Ifthesaleproceedsareinsufficientto---

(a) refundanyCPFmoneysusedbytheSellerfortheFlattogetherwithaccruedinterest;

(b) dischargeinfullanymortgageloangrantedtotheSellerbytheHDB;or

(c) repayanymoneysowingbytheSellertotheHDB,

theSellermustmakesuchpaymentstotheHDB,iftheHDBsorequires.

15.

Buyer'sobligations

15.1 TheBuyermust,within7workingdaysaftertherequestoftheHDBortheSeller'ssolicitor---

(a) producesuchdocuments;

(b) signsuchdocuments;

(c) makesuchdeclarations;or

(d) providesuchinformation,

totheHDBortheSeller'ssolicitor,asmayberequiredtoobtaintheHDB'sapprovalforthepurchaseof
theFlat.

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StandardContractforResaleofHDBFlat

15.2 TheBuyeragreestotakesuchstepsastheSellermayreasonablyrequesttohelptheSellerobtainthe
HDB'sapprovalforthesaleoftheFlat.
16.

Non-approvalofsaleandpurchase

16.1 If the HDB's approval for the sale and purchase of the Flat is not obtained or is revoked before the
CompletionDateanditisnotduetotheSeller'sorBuyer'sdefaultincomplyingwiththeHDB'stermsof
resaleorrequirements---

(a) thesaleandpurchasewillbecancelled;

(b) thisOptionwillberescindedandbecomenullandvoidandofnofurthereffect;

(c) the Seller will immediately, without demand, refund to the Buyer the Option Fee, Option
Exercise Fee and any other moneys paid by the Buyer to the Seller, without any interest or
deduction;

(d) eachpartywillbearhisowncostsinthematter;and

(e) neitherpartywillhaveanyotherclaimagainsttheother.

16.2 If the HDB's approval for the sale and purchase of the Flat is not obtained or is revoked before the
CompletionDate anditisdue totheSellers'sorBuyer'sdefaultincomplying withtheHDB'stermsof
resale or requirements, the other party will be entitled to enforce the terms of this Option for specific
performance,damagesoranyotherremedy.
16.3 Clauses 16.1 and 16.2 will not apply to the situation where the Seller has not met the requirement in
Clause3.1.
17.

DemandsofGovernmentdepartment,TownCouncilsorstatutoryauthorities

17.1 AnynoticeororderfromanyGovernmentdepartment,TownCouncilorotherlocalorstatutoryauthority
mustbecompliedwithbytheSellerathisownexpense,onorbeforecompletion.

17.2 Condition12oftheLawSocietyConditionswillnotapply.
18.

Title

18.1 ThetitletotheFlatmustbeinorder.
18.2 The Buyer will not ask for the certificate of statutory completion for the Flat. "Certificate of statutory
completion"hasthesamemeaningasintheBuildingControlAct(Cap.29).
18.3 Condition3oftheLawSocietyConditionswillbereplacedwithClause18ofthisOption.
18.4 WheretheBuyer'ssolicitorrequeststheloanofthedocumentsoftitle,theSellermust,unlesstheSeller
hasjustifiablegroundsforrefusing,produceattheSeller'sownexpense---

(a) thedocumentsoftitle;or

(b) copiesofthedocumentsoftitle,certifiedastruecopiesbytheSeller'ssolicitor.

18.5 Theloan ofany documents of titleissubject to an undertaking from theBuyer'ssolicitor toreturn the
documentsoftitleatanytimeondemand,withoutanylienorclaim.
18.6 TheFlatisalsosoldsubjectto---

(a) alleasements,quasi-easementsandsimilarmatters;

(b) anyroad,back-laneorotherimprovementschemesaffectingthelandonwhichitisbuilt;and

(c) anyother proposals contained inthe Master Plan."MasterPlan"hasthe samemeaningasin

thePlanningAct(Cap.232).

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StandardContractforResaleofHDBFlat

19.

PhysicalstateofFlat

TheBuyerisdeemedtopurchasetheFlatwithfullnoticeandknowledgeofthestateandconditionof
theFlat.TheBuyerwillnotmakeanyrequisition orobjection relatingtothestateandconditionofthe
Flat.

20.

Deliveryofpossession

20.1 TheFlatissoldwithvacantpossessiononcompletion.
20.2 The Seller must allow the Buyer to conduct a final inspectionof theFlat on or before the Completion
Date.
20.3 OntheCompletionDate,theSellermustgivetotheBuyer---

(a) vacantpossessionoftheFlat;and

(b) thekeystotheFlat.

20.4 Condition8.2.2oftheLawSocietyConditionswillnotapplytothisOption.
21.

Completion

21.1 CompletionofthesaleandpurchaseoftheFlatwilltakeplaceontheCompletionDateinaccordance
withthisClause.
21.2 IftheHDBsorequires,thesaleandpurchaseoftheFlatwillbecompletedatitsofficeandatsuchtime
fixedbytheHDB.
21.3 Oncompletion,theSellerwillsignanddelivertotheBuyer,thefollowingdocuments:

(a) wherealeasehasnotbeenissuedfortheFlat--(i) anassignmentofthe Seller'sright, title andinterestunder the Agreement forLeasemade

betweentheSellerandtheHDB;and
(ii) aletterofauthoritybytheSellerdirectingtheHDBto---

(A) enterintoafreshagreementforleasewiththeBuyer;and
(B) deemallmoneyspaidtotheHDBbytheSellerundertheagreementforleaseashaving
beenpaidbytheBuyer;or

(b) wherealeasehasbeenissuedfortheFlat,anInstrumentofTransfer.

21.4 ThedocumentsinClause21.3willbepreparedbytheBuyerathisownexpense.
22.

LiabilityforOutgoings

22.1 The Seller must pay allOutgoings for the period up to and including theCompletion Date. The Seller
must,ifdemandedbytheBuyer,reimbursetheBuyerforanysuchOutgoingspaidbytheBuyer.
22.2 The Buyer must pay all Outgoings for the period after the Completion Date. The Buyer must, if
demandedbytheSeller,reimbursetheSellerforanysuchOutgoingspaidbytheSeller.
22.3 In this Clause, "Outgoings" includes property tax, service and conservancy charges and any other
outgoings.
23.

ExclusionofContracts(RightsofThirdParties)Act

Anyperson,firm,corporationororganisationwhoisnotapartytothisOptionwillnotacquireanyrights
underthisOptionbyreasonoftheContracts(RightsofThirdParties)Act(Cap.53B).

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24.

Governinglaw

ThisOptionisgovernedbythelawofSingapore.Ifthepartiestakeanylegalproceedingsinrespectof
thisOption,theymustdosoonlyinaSingaporecourtoflaw.

25.

Mediation

25.1 Before referring any dispute relating to this Option to arbitration or litigation, the Seller and the Buyer
must consider settling the dispute through mediation at the Singapore Mediation Centre (a company
limitedbyguaranteeoftheSingaporeAcademyofLaw).
25.2 Thepartiesarehowevernotlegallyobligedtoattemptmediationasameansofsettlingtheirdispute.

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OptionDate:_______________________
Flataddress: __________________________________________________________________________
SignedbytheSellerontheOptionDatestatedabove.

_____________________________________

_____________________________________

SignedbySeller(1)

SignedbySeller(2)

_____________________________________

_____________________________________

SignedbySeller(3)

SignedbySeller(4)

_____________________________________

SignatureofWitness

Name:

NRIC:

*Oursolicitorsare________________________________________________________________________

*Delete if not applicable.

ACCEPTANCE
ThisistheAcceptancereferredtoinClause6.1ofthisOption.
WetheBuyeraccepttheSeller'sofferuponthetermssetoutinthisOption.
Dated_________________

_____________________________________

_____________________________________

SignedbyBuyer(1)

SignedbyBuyer(2)

_____________________________________

_____________________________________

SignedbyBuyer(3)

SignedbyBuyer(4)

SignatureofWitness

Name:

NRIC:

_____________________________________

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THESCHEDULE
ThisistheSchedulereferredtoinClause10.2ofthisOption.
MOVABLEPROPERTY,FITTINGSANDOTHERITEMS
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)

SIGNEDbytheSeller

)
)
)
)

Inthepresenceof:

_____________________________________
SignatureofWitness

Name:

NRIC:

SIGNEDbytheBuyer

)
)

Inthepresenceof:

SignatureofWitness

Name:

NRIC:

_____________________________________

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FORMA
AUTHORISATION

OptionDate:_______________________
Flataddress: ______________________________________________________________________

ThisistheFormAreferredtoinClause6.1ofthisOption.
We authorise the following person or solicitors' firm to receive this Option with the signed Acceptance and
paymentoftheOptionExerciseFee.
NameofauthorisedpersonorSeller'ssolicitors'firm:

_________________________________________________________________________________________
NRICNumber

: __________________________________________________

Address

: ________________________________________________________________________

________________________________________________________________________

ContactNumber

: ________________________________________________________________________

(ifapplicable)

___________________________________

___________________________________

SignedbySeller(1)

SignedbySeller(2)

___________________________________

___________________________________

SignedbySeller(3)

SignedbySeller(4)

___________________________________

SignatureofWitness

Name:

NRIC:

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