The HDB offering method begins with the vendor registering an "Intent to Provide" over the HDB Flat Portal, which delivers an eligibility Check out, EIP/SPR quota for your block, and up to date transaction selling prices for nearby flats. This intent is legitimate for 12 months. Following a 7-working day cooling-off period of time, the seller can grant an alternative to buy (OTP) to a customer for an option rate of S£1 to S£1,000, and that is valid for 21 times. The vendor and purchaser then post their respective elements of the resale software around the HDB portal, spending an administrative payment of S£40 for 1- and a couple of-room flats or S$eighty for 3-space read more and bigger flats. HDB will then validate the documents, and approval is usually granted within two weeks after all documents are endorsed on the net. The entire approach culminates inside of a resale completion appointment, typically about eight months just after HDB accepts the resale application, in which keys are handed about and remaining lawful files are signed. Throughout the method, sellers have to refund all CPF resources useful for the acquisition, such as accrued curiosity, and pay off any exceptional housing loans through the sale proceeds.