How do I exercise the Option to Purchase for an HDB flat?

You must first make sure you have submitted the Intent to Buy. Then, within the 21-day Option Period, sign the bottom half of Page 8 of the OTP form, pay a deposit (including the Option Fee) totaling no more than $5,000, and deliver the signed OTP to the seller. If you plan to take an HDB loan, you need a valid HDB Loan Eligibility Letter before exercising the Option. If you plan to take a bank loan, you will need a valid Letter of Offer. The date of these loan documents must be before the Date of Acceptance of the Option. Make sure to complete these steps before the Option expires at 4pm on the 21st day.