The HDB offering course of action starts with the vendor registering an "Intent to Offer" about the HDB Flat Portal, which gives an eligibility check, EIP/SPR quota to the block, and up to date transaction rates for close by flats. This intent is legitimate for twelve months. Following a seven-working day cooling-off interval, the vendor can grant a choice to invest in (OTP) to some buyer for an option cost of S$1 to S£1,000, that's valid for 21 days. The vendor and buyer then post their respective parts of the resale software on the HDB portal, spending an administrative charge of S£forty for 1- and a pair of-home flats or S$eighty for three-room and larger flats. HDB will then validate the documents, and approval is usually granted within two weeks after all paperwork are endorsed on line. The complete course of action culminates more info inside a resale completion appointment, normally about 8 months following HDB accepts the resale application, wherever keys are handed over and remaining legal paperwork are signed. Through the procedure, sellers should refund all CPF money employed for the acquisition, together with accrued desire, and pay off any excellent housing loans from your sale proceeds.