Selling Your HDB
Things To Note
Sellers must fulfill the Minimum Occupation Period (MOP) before they can sell their flats.
The MOP is calculated from the date the sellers collect the keys to the flat. It excludes any period where they do not occupy the flat, such as when the whole flat is rented out or when there has been an infringement of the flat lease.
The MOP duration depends on the purchase mode, flat type, and date of flat application:
Ethnic Integration Policy (EIP) and Singapore Permanent Resident (SPR) quota
Prospective buyers of HDB flats are subject to certain eligibility conditions based on citizenship, age, family nucleus, Ethnic Integration Policy (EIP) and Singapore Permanent Resident (SPR) quota.
The EIP ensures a balanced mix of the various ethnicity in HDB towns, blocks and neighbourhoods. It applies to all buyers.
The SPR quota ensures that SPR households can better integrate into the local community. It applies to non-Malaysian SPR households, where no buyer is Singapore citizen or Malaysian SPR.
To fulfill the EIP and SPR quota, the buyers’ household must
- fall within the block/neighbourhood’s ethnic and SPR limits
- be of the same ethnic group and household citizenship as the seller
Procedure for selling HDB flat
Set your asking price. Consider engaging a real estate salesperson (property agent) who can assist you in pricing and handling the paperwork
Check that the salesperson is registered with the Council for Estate Agencies (CEA)
Market your property. Your salesperson will assist you in this
List your property for sale
Screen the prospective buyers
Check if your property fits their criteria, such as budget, number of bedrooms, size and location
Negotiate with buyers who will try to bargain
Check if prospective buyer fulfills the EIP and SPR quota
Complete resale checklist
Seller must complete the sellers’ resale checklist at least 7 days before granting an Option to Purchase
Grant Option to Purchase (OTP) in exchange for Option fee
The standard HDB OTP must be used
After agreeing to a price, seller gives buyer the completed and signed OTP in exchange for an Option fee of up to $1,000
The OTP is valid for 21 calendar days, during which the flat is reserved for the buyer
Buyer to request a valuation report
Buyers or their salesperson must apply for a valuation report by the next working day (Monday to Saturday) after seller grants OTP
The resale checklist must be completed before exercising the OTP
Buyer to exercise OTP
Buyer must sign the OTP within 21 calendar days and pay a deposit to the seller of up to $5,000, less the Option fee paid
A binding contract for the sale and purchase of the flat is formed upon exercise of the OTP
The Option fee will not be refunded if the buyer does not exercise the OTP
Submit resale application
Both buyer and seller must submit their resale applications within the number of days agreed upon on page 4 of the OTP
Both buyer and seller must submit their resale applications within 7 days of each other
If the resale application is approved, HDB will schedule an appointment with the buyer and seller 6 to 8 weeks after submission
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