The HDB marketing system commences with the seller registering an "Intent to Provide" over the HDB Flat Portal, which delivers an eligibility Examine, EIP/SPR quota for the block, and recent transaction price ranges for nearby flats. This intent is valid for 12 months. After a seven-working day cooling-off period of time, the seller can grant a possibility to acquire (OTP) to some consumer for an alternative charge of S£1 to S$1,000, which is legitimate for 21 times. The seller and consumer then submit their respective portions of the resale application to the HDB portal, having to pay an administrative rate of S$40 for one- and 2-place flats or S£80 for 3-home and larger read more flats. HDB will then confirm the files, and approval is usually granted in just two weeks In fact documents are endorsed on the net. The whole approach culminates in a resale completion appointment, typically about 8 months after HDB accepts the resale application, wherever keys are handed over and remaining legal paperwork are signed. All through the process, sellers should refund all CPF money employed for the acquisition, including accrued interest, and pay off any exceptional housing loans with the sale proceeds.