© 2020 Housing & Development Board

Programme

Topics Presenter
Your Resale Flat Journey HDB
Buying your Home CPF
Engaging the Services of a Property Agent CEA
Break
Understanding Real Estate Valuation SISV
Q&A

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 Resale Process

Intent to Sell
HDB Resale Portal
Intent to Buy
CONTENTS

Prescribed
Resale Completion
Option to Purchase
Resale Application

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 Resale Process HDB Resale Portal Intent to Sell/Buy Prescribed Resale Application Resale Completion
Option to Purchase

✓Minimum occupation period – 5 years

Can I sell?
✓Move to next home
✓Discharge financial obligations – housing loan, CPF,
service & conservancy charges, property tax, etc. ✓Buyer who has registered Intent to
✓Calculate sale proceeds Buy in HDB Resale Portal
✓What about resale levy? ✓Buyer who meets monthly EIP/SPR
✓What if my flat is involved in upgrading works?
Who will pay for it?
SELLING quota at time of resale application
✓Buyer who agrees with resale price
CONSIDERATIONS
What it means Who can I sell to?
to sell?
How do I sell?

✓DIY or get agent

✓HDB resale procedures
✓HDB Resale Portal
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 Resale Process HDB Resale Portal Intent to Sell/Buy Prescribed Resale Application Resale Completion
Option to Purchase
✓Eligibility criteria – SC/SPR, family/single, age 21/35, income, property
✓Eligibility schemes – Public, Fiancé/Fiancée, Non-Citizen Family/Spouse, Orphans, Singles, Joint Singles

Can I buy?
✓Being a home owner ✓Seller who has registered Intent to
✓Financing – housing loan (HDB/bank), CPF, cash Sell in HDB Resale Portal at least 7
(plus administrative/legal/stamp fees) days before granting OTP to me
✓What about CPF housing grant? ✓Seller who meets monthly EIP/SPR
✓What if the flat is involved in upgrading works? quota at time of resale application
Who will pay for it?
BUYING ✓Seller who agrees with resale price

CONSIDERATIONS
What it means Who can I buy
to buy? from?

How do I buy?

✓DIY or get agent

✓HDB resale procedures
✓HDB Resale Portal
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 Resale Process HDB Resale Portal Intent to Sell/Buy Prescribed Resale Application Resale Completion
Option to Purchase

Planning, Sourcing & Submission & Processing Resale Approval Resale Completion
Contracting of Resale Application

Sellers register Buyers register Sellers and buyers

Intent to Sell Intent to Buy submit application and HDB grants Sellers and buyers
upload supporting documents resale approval and attend completion
prepares for completion appointment
HDB Resale Portal provides:
- Essential information on HDB accepts application#
eligibility, EIP/SPR quota,
recent transacted prices, etc.
- Guide to next steps, including HDB computes and sends
sellers’ estimated sale proceeds Note:
buyers to apply for HLE letter
and buyers’ financial plan to • EIP/SPR quota – Ethnic Integration Policy/Singapore Permanent
their personalised pages in Resident quota
Sellers and buyers negotiate HDB Resale Portal
• HLE letter – HDB Loan Eligibility letter
resale price
• OTP – Option to Purchase (use HDB prescribed OTP form)
• HPS – CPF Board’s Home Protection Insurance Scheme
Sellers grant OTP* Sellers via HDB Resale Buyers via HDB Resale
Portal: Portal: *If buyers are taking a home loan provided by HDB, they need to
have a valid HLE letter.
Buyers submit Request for Value - Confirm sale proceeds - Confirm financial plan
- Endorse online forms - Do online withdrawal ^If buyers are taking a home loan provided by a financial
- Make online payment of CPF monies and institution (FI) regulated by the Monetary Authority of Singapore,
HDB informs buyers of the value HPS health declaration they need an FI’s Letter of Offer.
- Endorse online forms #Completion Date – 8 weeks from HDB’s acceptance of resale
- Make online payment application.
Buyers exercise OTP^

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Resale Process HDB Resale Portal Intent to Sell/Buy Prescribed Resale Application Resale Completion
Option to Purchase

Guided Steps in HDB Resale Portal

Sellers Buyers
i. Register Intent to Sell i. Register Intent to Buy
ii. Submit Resale Application ii. Search for Suitable Flat and get OTP
iii. Endorse Resale Documents iii. Choose Mode of Financing
iv. Pay Fees (Online) iv. Request for Value of Flat
v. Approval of Resale v. Submit Resale Application
vi. Completion of Resale vi. Endorse Resale Documents
vii. Pay Fees (Online)
HDB InfoWEB
(www.hdb.gov.sg )
Login with SingPass

viii. Approval of Resale

ix. Completion of Resale

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Resale Process HDB Resale Portal Intent to Sell/Buy Prescribed Resale Application Resale Completion
Option to Purchase

✓Need to re-register if no activity after 12 months

✓Can delete intent at any time

Only 1 seller
needs to login ✓Have relevant documents at hand
to ensure information is correct
✓Prepare to proceed to sell to register intent ✓Click ‘Clear Form’ button to edit

Check/edit/enter
Follow timeline to
particulars
next step Intent to Sell of all sellers
✓Make informed decisions before
granting OTP ✓Provide address

Note advisory, work out

sale proceeds, check
State plan for
recent transacted prices next housing

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Resale Process HDB Resale Portal Intent to Sell/Buy Prescribed Resale Application Resale Completion
Option to Purchase

✓Need to re-register if no activity after 12 months

✓Can delete intent at any time

✓Factor in CPF housing grant you may

Only 1 buyer
be eligible for in purchase budget
✓Apply for HLE letter if eligible for HDB
needs to login ✓Have relevant documents at hand
to ensure information is correct
housing loan to register intent ✓Click ‘Clear Form’ button to edit

Check/edit/enter
Follow timeline to
particulars
next step Intent to Buy of all buyers
✓Make informed decisions before
getting OTP ✓Provide required information

Note advisory, work out Complete

purchase budget, check
recent transacted prices declarations

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Poll 1: When can I do it?
I am turning 35 years old next week and would like to
buy a flat under the Single Singapore Citizen Scheme.
Can I submit an Intent to Buy now?
Answer 1: Yes
Answer 2: No

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Resale Process HDB Resale Portal Intent to Sell/Buy Prescribed Resale Application Resale Completion
Option to Purchase

Latest transacted prices

Seller’s Resale Buyer’s

financial obligations Price affordability

Market sentiment

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Resale Process HDB Resale Portal Intent to Sell/Buy Prescribed Resale Application Resale Completion
Option to Purchase

✓Read Important Notes for guidance

Standard contract for

✓Fill up names as in NRIC
✓Check details before signing all resale transactions ✓Print complete set (10 pages)
✓Must have same serial number

Enter correct Unique to each

information transaction
HDB Prescribed
Option to Purchase ✓Option Fee – $1 to $1000
(Download from HDB InfoWEB) ✓Deposit (Option Fee + Option Exercise Fee)
✓Clause 12 – submit resale application – Max $5000
✓Note seller’s and buyer’s obligations ✓Option Period – 21 days

Keep to timelines Understand

and obligations terms of contract

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Resale Process HDB Resale Portal Intent to Sell/Buy Prescribed Resale Application Resale Completion
Option to Purchase
✓By next working day after Option Date
✓Attach page 1 of OTP
✓Pay $120 (including GST)

✓HDB will appoint valuer from panel,

✓Within 21 days Option Period Buyer submits if valuation is required

Request for Value

Buyer decides HDB decides
to HDB
whether or not to whether valuation
exercise OTP of flat is required

✓Buyer will be notified to check

Value of Flat ✓Seller must allow valuer to inspect flat
value of flat Determine CPF usage within 3 working days of notice
and HDB/bank loan
HDB posts amount
value of flat in Valuer inspects flat
HDB Resale Portal if valuation is
required
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Resale Process HDB Resale Portal Intent to Sell/Buy Prescribed Resale Application Resale Completion
Option to Purchase

Submit within
timeframe agreed
in OTP
Attach full set
Monitor updates
of required
and follow-up
documents
Resale Application

Endorse resale
Make payments
documents within
promptly
timeframe

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Poll 2: When must I do it?
Resale applications are submitted separately by the
buyer and seller. When must both portions be
submitted to HDB?
Answer 1: Within 7 days
Answer 2: Within 21 days
Answer 3: Anytime

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Resale Process HDB Resale Portal Intent to Sell/Buy Prescribed Resale Application Resale Completion
Option to Purchase
Seller Buyer
✓Rectify unauthorised renovations ✓Do final flat inspection
✓Terminate GIRO ✓Pay balance of purchase price with Cashier’s Order/NETS
✓Pay S&CC/property tax until completion date ✓Buy fire insurance if taking HDB housing loan
✓Vacate flat

Prepare for
completion Attend completion
You’re home! at HDB or
solicitor’s office

✓Seller receive sale proceeds

✓Buyer receive keys to flat Resale Completion ✓OTP, S&CC/property tax receipts,
duplicate lease (if any), fire insurance
✓Sign transfer and legal documents certificate, etc. as stated in completion letter

Bring original
Handover of flat documents
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Poll 3: How must I do it?
Which of the following process flow is correct?
Answer 1: HDB Loan Eligibility (HLE) letter >
Option to Purchase (OTP) > Intent to Buy (ITB)
Answer 2: ITB > Resale application > OTP > HLE
Answer 3: ITB > HLE > OTP > Resale application

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 Get your SingPass and
Bring required original documents Two Factor Authentication Follow process flow
and payment receipts for (2FA) ready (don’t skip or overlook any step)
resale completion (i) register Intent to Buy or Sell
(ii) get HDB Loan Eligibility letter or
financial institution’s Letter of Offer (buyer)
(iii) sign Option to Purchase (OTP)
Keep to timelines for submission (iv) submit Request for Value (buyer)
of application, endorsement of (v) submit resale application
documents, making payments, etc. Before
you set off on
Settle all personal issues,
Ensure CPF is refunded to your journey … e.g. divorce, estate matters
CPF account before (with relevant documents and court
submitting application to buy orders, etc.) before marketing or
(seller buying another flat)
looking for a flat

Maintain same family structure Check that your

from start to finish Intent to Buy/Sell is still valid Indicate correct role in
(check consistency and correctness before you sign OTP Intent to Buy or Intent to Sell
of information from Intent to Buy/Sell (seller to observe 7-day cooling-off (buyer or seller or
to resale completion) period before granting OTP) administrator/executor)

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 The information presented during the seminar is updated and accurate as at the date of the presentation.
HDB reserves all rights to amend the information in the presentation materials at any time, without further notification.

Thank You
for your participation
© 2020 Housing & Development Board