Guide
The Complete Guide to Buying and Selling an HDB Resale Flat in Singapore
Buying or selling an HDB resale flat involves more steps than most people expect. From checking eligibility to collecting your keys, the entire process typically takes 8 to 12 weeks. This guide walks you through every stage in plain English, whether you are buying your first flat, selling to upgrade, or just trying to understand what you are getting into.
Before search
Intent to Sell / HFE
Week 1 to 3
Negotiate price
Week 2 to 4
Grant OTP
Week 3 to 5
Exercise OTP
Week 4 to 6
Submit application
Week 5 to 7
HDB approves
Week 8 to 12
Key collection
1Before You Start: Eligibility
Minimum Occupation Period (sellers)
You must have lived in your flat for at least 5 years before selling. The MOP runs from your key collection date, not from when you signed the lease. Check your MOP date on the HDB portal before listing.
Family nucleus (buyers)
At least one buyer must be a Singapore Citizen. You must form a valid family nucleus (spouse, children, parents) or qualify under the Single Citizen Scheme if aged 35 and above. PRs can buy with a citizen co-applicant.
No income ceiling for resale
Unlike BTO flats, there is no income ceiling for buying a resale flat. However CPF Housing Grants (up to S$80,000 for families) do have income ceilings. Check the CPF Board website for current grant eligibility.
2The Selling Process: 7 Steps
- 1Day 0Free
Register Intent to Sell
Log in to the HDB Flat Portal using government identity verification and register your Intent to Sell. It must be valid for at least 7 days before you grant an OTP and remain valid when the resale application is submitted.
- 2Week 1 to 2
Allow valuation access
If the buyer is taking an HDB loan, HDB will conduct a valuation of your flat. You need to allow the valuer access. The valuation determines the maximum loan amount. If the agreed price is above valuation, the buyer pays the difference in cash, called Cash Over Valuation (COV).
- 3Week 1 to 3
Negotiate and agree on price
You and the buyer negotiate directly or through agents. Check recent transaction prices for your block on SOLO before setting your asking price. Transactions from the last 6 months are the most accurate benchmark.
- 4Week 2 to 4
Grant the Option to Purchase (OTP)
The OTP is a legal document giving the buyer the exclusive right to buy your flat at the agreed price within a fixed period. The buyer pays an option fee of S$1 to S$1,000. They have 21 calendar days to exercise. You cannot sell to anyone else during this period.
- 5Week 3 to 5
Buyer exercises the OTP
The buyer exercises the OTP by signing it and paying the exercise fee. The option fee and exercise fee together cannot exceed $5,000. Once exercised, both parties are contractually committed.
- 6Week 4 to 6
Submit resale application
Seller and buyer submit their respective portions on the HDB Flat Portal within 7 calendar days of each other. HDB starts processing only after both portions are received.
- 7Week 8 to 12
Completion appointment at HDB Hub
Both parties attend in person. Ownership transfers. Sale proceeds are received after CPF refund and any outstanding HDB loan repayment. Keys are handed over on this day.
3The Buying Process: 7 Steps
- 1Before you start
Get your HFE letter
Apply for an HDB Flat Eligibility letter before committing to a flat. It confirms your purchase eligibility, assessed housing grants and HDB loan outcome. It is valid for 9 months.
- 2Week 1 to 3
Search and check before offering
Before making any offer check: remaining lease (CPF usage is restricted if below 60 years), whether the asking price is above HDB valuation (COV must be paid in cash), and whether your purchase would exceed the Ethnic Integration Policy (EIP) quota for the block.
- 3Week 2 to 5
Receive and exercise the OTP
You have 21 calendar days after receiving the OTP to exercise it. During this time arrange your financing, inspect the flat thoroughly, and confirm your CPF and loan figures. You cannot back out after exercising without forfeiting your deposit.
- 4Week 4 to 6
Submit resale application
Buyer and seller submit their respective portions on the HDB Flat Portal within 7 calendar days of each other.
- 5Week 4 to 8
Pay Buyer's Stamp Duty
BSD must be paid within 14 days of exercising the OTP. For a S$500,000 flat: 1 percent on first S$180,000 = S$1,800, plus 2 percent on next S$180,000 = S$3,600, plus 3 percent on remaining S$140,000 = S$4,200. Total BSD = S$9,600. Singapore Citizens buying their first property pay 0 percent ABSD.
- 6Week 8 to 12
Completion and key collection
Attend the completion appointment at HDB Hub. Pay the balance purchase price. Receive the keys. Check all agreed fixtures are present and utilities are transferred.
4Costs Summary
Seller costs
- Agent commission (if using agent)
- 1% to 2% of sale price
- Legal / conveyancing fees
- S$600 to S$1,500
- CPF refund with accrued interest
- Returned to your CPF account
- Outstanding HDB loan repayment
- Deducted from sale proceeds
Buyer costs
- Option fee + exercise fee
- 5% to 10% of purchase price
- Buyer's Stamp Duty
- About 1% to 4% depending on price
- Legal / conveyancing fees
- S$2,000 to S$3,000
- HDB administrative fee
- S$80
- Cash Over Valuation (if any)
- Depends on negotiation
5Common Mistakes to Avoid
Not checking CPF restrictions on older flats
If the flat's remaining lease cannot cover you to age 95, your CPF usage is capped. Run the CPF calculator on the CPF Board website before making any offer.
Leaving too long between submissions
Buyer and seller must submit their respective portions within 7 calendar days of each other. Coordinate the dates before either side submits.
Forgetting to factor in Cash Over Valuation
COV must be paid entirely in cash, not CPF, not loan. Confirm you have the cash before committing to a price above valuation.
Not getting your HFE letter before offering
Without a valid HFE letter you cannot receive an OTP, and you do not have HDB's assessment of your grants and HDB loan outcome.
6Frequently Asked Questions
For the rules behind each stage, the 21 day Option to Purchase, the five year Minimum Occupation Period, Cash Over Valuation and HDB loan limits, read OTP, MOP, COV and HDB loan eligibility.
Ready to start your HDB resale journey?
SOLO makes the process clearer, whether you are buying, selling, or working with an agent.