A 10-Step Guide to Selling

• The registration for the Intent to Sell can be ​easily done on the HDB portal.
  

• After doing so, you will receive important ​information like the Ethnic Integration Policy ​EIP) and PR Quota for your block, which ​implicates who you can sell your flat to.
  

• Check out past transaction values in the vicinity ​which are available to the public at HDB Resale ​Flat Prices.
  

• Declutter, remove stains & rearrange your ​furniture to create a more spacious look! Doing ​all these is important to increase the appeal of ​your property, hence increasing its potential ​sale price.
  

• Prepare plenty of marketing materials like well-​taken photographs and videos.
  

• Reach potential buyers through platforms like ​Property Guru, social media, and agent ​networks.
  

< Latest News > Sellers can list their flats on HDB ​Portal from 13May 2024

• Schedule appointments for viewings with ​potential buyers or their agents. The open ​house can be conducted without your presence ​if you have an agent representing you.
  

• Be prepared that most potential buyers will ​negotiate on the price.
  
• Various terms may also be brought into the ​negotiation, for instance, do you need a ​temporary extension of stay?
  

• Issue an Option to Purchase (OTP) document to ​the buyer and receive an Option Fee in return. ​This Option Fee acts like a deposit and ranges ​from $1 to $1000 (it is up to the seller and buyer ​to agree on), and forms part of the sale price.
  

• Wait for the buyer to exercise the OTP -- within ​21 days for HDB transaction.
  

• If the buyer is going ahead with the purchase, ​he will exercise the OTP before the deadline ​and pay the Option Exercise Fee. This is also a ​variable amount to be mutually agreed upon by ​the seller and buyer.
  

• Do note that the sum of the Option Fee and ​Option Exercise Fee must not exceed $5,000. ​i.e. Option Fee + Option Exercise Fee ≤ $5,000
  

• Submit the resale application.
  
• Upon receiving an SMS notification from HDB, ​endorse the documents on HDB’s website.
  
• Pay the necessary fees eg. conveyancing fees ​and seller‘s stamp duty.
  

• The flat inspection may also happen at this ​time. Technical executives from HDB will come ​and inspect your flat for any structural damage ​and unauthorised modifications.
  

• HDB will notify the approval via SMS and ​email, as well as post the approval letter ​on My Flat Dashboard.
  

• You’re almost there! Give yourself time to pack, ​dispose of unwanted items, and arrange for ​moving service.
  
• The flat must be vacated before Step 10.
  

• Terminate any automated GIRO payments for ​utilities, Town Council conservancy charges, ​(payable up to the day of resale completion), ​Property Tax (payable up to year-end) etc.
  

• Signing of the transfer documents of the flat ​and handing over your keys to the buyer will ​take place.
  
• Your net sales proceeds will be received at this ​point.
  
• HDB will refund the CPF portions into your CPF ​accounts within 14 days.
  

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