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HDB flat owners can sell their flats in the open market to eligible buyers of their own choice at a mutually agreed resale price.
The seller and buyer shall declare to HDB the true resale price of the flat.
They shall not enter into any supplementary or other agreements or arrangements that may cause the true resale price as declared to be inflated or understated.
Important Note: Under the Housing & Development Act, the penalties for buyers and sellers who give false information to HDB is up to 6 months' imprisonment and/or a fine of up to $5,000.
Before signing the Option to Purchase to be given to the buyer in exchange for the option fee, sellers should ensure that they have met the eligibility conditions for the resale.
Below are the 2 main Eligibility Conditions.
Sellers should also take note of the following Important Requirements:
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