We are pleased to inform you that the HDB standard Option to Purchase (OTP), the only form of contract in HDB resale transactions, will now be made available in the HDB InfoWEB for download.

 

Resale flat sellers and buyers and their salespersons no longer need to obtain the hardcopy OTP form from the HDB. They can now download and print the OTP form in the comfort of their home or office, at their own convenience and round the clock, via the HDB InfoWEB.

 

Only one copy of the OTP form needs to be printed. Each OTP comes with a unique Serial Number. Salespersons will need to provide this Serial Number when they submit the resale application via the HDB-ResaleNet or e-Resale.

 

HDB will continue to issue the pre-printed OTP form at the HDB offices until 30 June 2012 or when the current stock runs out, whichever is the earlier. Buyers and sellers who have entered into a contract using the pre-printed OTP form can still submit their resale application until 31 July 2012 by leaving the Serial Number field blank. From 1 August 2012, all resale applications must include the Serial Number of the OTP form downloaded from the HDB InfoWEB (i.e. from 1 Aug 2012 we will stop accepting resale applications for transactions with the pre-printed OTP form). Salespersons are encouraged to start using the downloadable version of the OTP form for all their transactions.

 

More information can be found on the HDB InfoWEB. We have provided a list of FAQs below for reference. This will also be covered in greater detail at the upcoming CPD course on 7 May 2012 titled ‘HDB Resale Procedures and Documentation’. There are still vacancies so do invite your salespersons to sign up for the course. Registration can be done online via HDB InfoWEB. Thank you.