Here’s a detailed table outlining the HDB resale payment timeline for both buyers and sellers, including key dates and associated payments:
Steps | For Buyers | For Sellers |
Register Intent to Sell For Seller and Apply Home Flat Eligibility HFE for Buyer | Calculate affordability; obtain HFE letter or IPA. | Register intent to sell and prepare the flat for listing. |
Home Viewings | Start viewing potential flats and negotiate prices. | Post listing and start marketing the property. |
Grant OTP | Receive OTP from the seller; exercise within 21 days from Option Date | Grant OTP to the buyer; ensure it is exercised within 21 days from Option Date |
Option Fee Payment | Pay option fee (Between $1 and $1,000 upon receiving OTP. | Receive option fee from the buyer. |
Request Valuation | Request valuation of the flat ($120 fee). | N/A |
Exercise OTP | Exercise OTP and pay exercise fee (Total Option Fee and Option Fee amount not exceeding $500) | N/A |
Submit Resale Application | Submit resale application; pay fees ($40 for 1-2room. $80 for 3room and bigger) | Submit resale application; pay fees ($40 for 1-2room. $80 for 3room and bigger) |
Receive Acceptance | Wait approximately 4 weeks for acceptance from HDB. | Wait approximately 4 weeks for acceptance from HDB. |
Endorse Documents | Endorse HDB documents within 14 days of acceptance. | Endorse HDB documents within 14 days of acceptance. |
Final Payments | Legal fees (approx $800−$1,000 for HDB appointed solicitor/Private Solicitor Approx $2300-$2700), and stamp fee. | Legal fee and settle conservancy fee and property tax payment till completion date. |
HDB Resale Completion | Attend completion appointment; pay balance of purchase price and other fees. | Receive cash proceeds and settle any outstanding property taxes and fees. |
Key Dates Overview
Day 1: Register intent to sell / Calculate affordability.
Days 1-21: Home viewings and negotiations.
Day 21: Grant and exercise OTP.
Days 21-30: Request valuation and submit resale application.
Days 30-60: Receive acceptance and endorse documents.
Days 60-70: Final payments and completion appointment.
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