Discover

1. Agree on resale price with buyer. 2. Wait seven days after submitting Intent to Sell. 3. Fill in Page 1 of OTP form with required details. 4. Sign top half of Page 8 of OTP form. 5. Grant buyer the Option to Purchase; no other options can be granted during this period.

For HDB flats, the option fee must not exceed $1,000. For completed private properties, sellers typically request around 1% of the purchase price, e.g., $5,000 for a $500,000 property. Therefore, $5,000 is common for private properties but exceeds the limit for HDB resale flats.

Process for selling a resale HDB flat: 1. Register intent to sell. 2. Submit resale application. 3. Endorse resale documents. 4. Pay resale fees online. 5. Receive approval. 6. Attend resale completion appointment. Typically takes about 8 weeks to complete.

Initially, you get a loan at commercial interest rates. After selling your current HDB flat, use the CPF refund and some cash proceeds to repay the new housing loan. Then, the interest rate on the second loan converts to the concessionary rate.

You can seek exemption from the Home Protection Scheme (HPS) if you have an outstanding loan of not more than $3,000 with under 2 years left on repayment, or if you have an alternate mortgage or life insurance policy that fully covers your outstanding housing loan.

For an HDB resale flat loan, a 10% initial payment is required based on the lower of the resale or valuation price. CPF savings, CPF Housing Grant, or both can be used. Any shortfall must be paid in cash. The remaining amount is financed by the HDB loan.

You need a valid HDB Loan Eligibility (HLE) Letter for an HDB loan, or a Letter of Offer for a bank loan.

The Optional Component Scheme (OCS) is an opt-in program where the cost of selected packages is added to the flat's selling price.

You can buy HDB flats through the Sale of Balance Flats (SBF) exercise, which offers surplus units from previous BTO launches and other repurchased flats.

Apply during the application window, review prices, locations, and units. A computerized ballot determines queue position. Once invited, select a unit. For completed flats, keys may be collected in about three months. For under-construction flats, keys are issued upon project completion.