The HDB advertising process begins with the vendor registering an "Intent to Offer" to the HDB Flat Portal, which delivers an eligibility Check out, EIP/SPR quota for your block, and recent transaction price ranges for nearby flats. This intent is legitimate for twelve months. After a seven-working day cooling-off period of time, the seller can grant a possibility to get (OTP) to some consumer for a choice fee of S£1 to S£1,000, and that is valid for 21 times. The vendor and purchaser then post their respective areas of the resale software within the HDB portal, paying an administrative price of S£40 for one- and a couple of-area flats or S£80 for 3-place and larger flats. HDB will then confirm the files, and approval is usually granted within two weeks after all paperwork are endorsed on the net. The whole course of action culminates inside a resale completion appointment, normally about 8 months following HDB accepts the resale application, where by keys are handed more than and remaining authorized paperwork are signed. All through the process, sellers need to refund all CPF cash useful for the acquisition, including accrued curiosity, and pay off any fantastic website housing financial loans with the sale proceeds.