Buyers and sellers of resale flats must use an HDB standard Option to Purchase (OTP) as the form of contract in resale transactions. They are not allowed to enter into any other agreement relating to the sale/purchase of the flat as it is not valid under the Housing and Development Act.
Key features of the Option to Purchase are:
- Option Period
- The Standard Practice
Option Period
The option period of 14 days which includes Saturday, Sunday and public holidays, allows the buyers to think over their intended purchase as well as to reconfirm several aspects such as:
- Eligibility to buy an HDB resale flat
- Finances for the purchase
- Other issues such as whether the flat is affected by upgrading, the liability to pay the upgrading cost/ levy
The Standard Practice
The prescribed Option Fee, Deposit and Option Period are prescribed as follows:
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| Amount not exceeding $1,000 |
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| Amount not exceeding $5,000, which includes the Option Fee |
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| 14 calendar days which includes Saturday, Sunday and public holidays from the date of granting the Option by the sellers to the buyers |
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| Standardised at 4pm
E.g: if seller grants Option to buyer on 1 Feb, the Option will expire on 15 Feb at 4pm |
You are advised to read carefully the
Terms and Conditions 
(PDF 95KB) of resale before proceeding to buy a flat in the open market. There are a total of 5 steps to enter into a contract using the Option to Purchase.
If you are performing the resale transaction on your own, i.e. without engaging the service of a housing agent, you may also use the
DIY Resale Checklist for Buyers as a guide before committing to the resale transaction.
If you engage a housing agent, the agent has to go through the
Resale Checklists for Housing Agents (Buyers) before you exercise the Option to Purchase.
More on
Resale Checklist for Housing Agents.
The Option to Purchase is a legal contract and is a prescribed form under the Housing & Development Act. The Act provides that a contract is null and void if it is made:
- In any other form than the prescribed form, or
- With additions/deletion/variations to the form that are unauthorized by the Board
To ensure that buyers and sellers use the prescribed form to enter into a resale contract, it is required that they use a hardcopy of the Option to Purchase form. It consists of a set of the original copy and 2 carbon copies.
- The carbon copies are meant only as a reference for the buyers and the sellers
Buyers and Sellers can obtain the Option to Purchase forms either by:
- Visiting HDB Hub reception counter/HDB Branch Office or
- Calling our Sales/Resale Customer Service at 1800-8663066 to request a set of the Option to Purchase forms to be sent by post
Below are the sample copies of the Option to Purchase in 4 languages:
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Note: Before entering into the contract for the sale and purchase of a resale HDB flat, buyers and sellers are advised to read the following "Important Notes":
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