The HDB providing system commences with the seller registering an "Intent to Sell" on the HDB Flat Portal, which offers an eligibility Examine, EIP/SPR quota with the block, and recent transaction rates for nearby flats. This intent is legitimate for twelve months. After a seven-working day cooling-off period of time, the seller can grant a possibility to get (OTP) to a consumer for a choice fee of S£1 to S$1,000, which is valid for 21 times. The seller and consumer then submit their respective aspects of the resale application over the HDB portal, paying out an administrative fee of S$forty for 1- and a pair of-room flats or S$eighty for three-space and bigger flats. HDB will then validate the documents, and approval is often granted inside two months In the end paperwork are endorsed on the web. All the course of action culminates in the resale completion appointment, ordinarily about eight weeks right after HDB accepts the here resale application, the place keys are handed around and remaining legal paperwork are signed. Through the procedure, sellers should refund all CPF money employed for the acquisition, together with accrued interest, and pay off any exceptional housing loans through the sale proceeds.