A Guide to the HDB Resale Portal for Sellers

Planning to sell your flat? Familiarize yourself with the HDB Resale Portal, which aims to simplify the buying and selling of resale flats. This platform combines eligibility checks and various procedures, empowering homeowners to sell their flats independently, eliminating the need for a salesperson.

1. Get Your Home Ready

Selling your home might feel unfamiliar, but don't worry! We're here to assist you every step of the way. Take a look at our helpful tips to ensure a seamless experience when selling your apartment.

2. Register Intent to Sell at the HDB Resale Portal

After reaching an agreement with your flat buyer regarding the sale and price, you should initiate the formal process by registering your intention to sell on the HDB Resale Portal. You can easily sign in using the SingPass Mobile App, which involves scanning a QR Code during login. This will securely and automatically populate your personal information from the Government's MyInfo service into the HDB Resale Portal.

During the registration process, the HDB Resale Portal will gather details about your flat to facilitate the sale. This includes verifying whether you have met the Minimum Occupation Period requirement and checking the Ethnic Integration Policy (EIP) quota for your precinct and neighborhood.

After registering, you will need to wait for a cooling-off period of 7 days before proceeding. This time can be used to communicate with your buyer and exchange information for the Option to Purchase (OTP). You can obtain the OTP form from the HDB Resale Portal (or HDB InfoWEB beforehand) to familiarize yourself with the terms and begin filling in the necessary sections.

The OTP is a legally binding document specifically designed for HDB resale transactions. According to the Housing and Development Act, both sellers and buyers are required to use the Option to Purchase for any sale or purchase of HDB flats. Informal agreements or secret handshakes are not permitted.

3. Grant The OTP

After a week, you can complete the OTP form and give it to your buyer. Both you and the buyer must also agree on the Option Fee, which can range from $1 to $1,000. This fee acts as a deposit for the OTP.

The buyer can exercise the Option you granted for a total of 21 days until 4pm on the 21st day. During this time, you cannot offer the Option to another buyer. Even if the buyer chooses not to proceed with the Option, you have to wait until it expires. In such cases, the buyer will lose the Option Fee.

4. Submit Resale Application and Documents

After your buyer signs the OTP, you'll have to access the HDB Resale Portal and complete the resale application, including the necessary documents. HDB will review the information and inform both you and your buyer about the outcome of the application within 8 weeks.

5. Endorse Resale Documents

Once you've submitted the required documents, both you and your buyer will receive an SMS notification. You'll be asked to endorse the documents on the HDB Resale Portal within a timeframe of 6 days.

6. Pay Resale Fees and Wait for HDB’s Approval

After both parties have agreed and signed the documents, the next step is to pay the necessary legal and stamp fees for the resale of the flat. You have the option to make the payment using a credit or debit card.

Once the fees have been paid, all you have to do is wait for HDB to review and approve your application for the flat resale. You will receive a notification via SMS when this approval takes place!

7. Attend Resale Completion Appointment

You will receive a notification about your Resale Completion Appointment at HDB Hub in Toa Payoh. Both you and your buyer must attend this appointment to complete the transaction.

Once that's done, the flat will be officially sold!

Source: mynicehome.gov.sg