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To start your journey of selling your flat, you will need to register an Intent to Sell by logging on to the HDB Resale Portal using your Singpass.
The allows you to check your eligibility to sell your flat. Upon registering an Intent to Sell, you will be informed of when you may start to grant an grant an Option to Purchase (OTP) to potential buyers.
You will also receive information about the Ethnic Integration Policy (EIP) and Singapore Permanent Resident (SPR) Quota for your block, status of upgrading, billing of upgrading costs, and recent transacted prices of nearby flats. There is no fee payable for registering an Intent to Sell.
Your Intent to Sell is valid for 12 months. It must be valid when you grant the OTP to the buyer(s) and during the submission of the resale application.
You must register an Intent to Sell personally, regardless whether you have engaged a salesperson for the sale of your flat. If there is more than one flat owner, only one of you need to register on behalf of all the flat owners.
If there are any personal matters that may affect the flat ownership, such as divorce or estate issues, it is advisable that these matters are settled before you register the Intent to Sell.
After registering an Intent to Sell, you will be prompted to download a copy of the OTP and to compute your estimated sale proceeds.
You are required to wait out a 7-day cooling-off period before granting the OTP to the buyers.
Before granting an OTP to potential buyers, you should:
Understand how your sale proceeds will be computed.
Financial planning is important, especially if you need to buy your next home after selling your current flat.
Use our sale proceeds calculator to get an estimate of the cash proceeds you may receive. The information will be useful in your budgeting for the next home purchase.
You have to settle all outstanding payments when you sell your flat. The sale proceeds from selling your flat is the resale price of the flat, less the following:
The outstanding housing loan refers to the loan amount that has not been fully paid yet. The outstanding housing loan will be deducted from the resale price, if sufficient.
If the resale price is insufficient to settle the outstanding housing loan, you must pay for the balance in cash. The deposit which you have received from the buyers will also have to be returned to HDB to pay the shortfall and any CPF refund, if any.
To find out your outstanding housing loan amount, you can:
Any CPF savings used for the purchase of your existing flat, either as downpayment or for the monthly instalments, are to be returned with accrued interest to your CPF account when you sell your flat.
The amount to be returned to your CPF account will be deducted from the resale price. If there is a shortfall in the CPF refund, the cash deposit that you have received from the buyers will be used to settle the shortfall.
To find out the amount of CPF to be refunded to your CPF account upon the sale of your flat, you may log in to the CPF Website (Select ‘my cpf’ > ‘My dashboards’ > ‘Home ownership’ > ‘Principal amount and accrued interest’).
A resale levy is payable in cash when you buy a second subsidised flat or an Executive Condominium unit from a property developer.
You will be informed if you are required to pay a resale levy when you register your Intent to Sell. If you have to pay a resale levy, you may want to set aside the levy amount from the sale proceeds you receive.
You have to pay for the upgrading cost if you are the flat owner on the date the bill was issued. The outstanding amount can be deducted from the resale price, if sufficient, or paid in cash or with CPF savings.
You can view the status of upgrading and the billing status for the upgrading costs of your flat when you register your Intent to Sell. Alternatively, you may check the status of the upgrading programme via the Enquiry on Upgrading/ Estate Renewal Programmes e-Service.
Learn more about payment of upgrading cost and billing:
If your existing flat is in an upgraded precinct, you may have to pay an upgrading levy when you sell the flat. The 10% upgrading levy is calculated based on the selling price of the flat, or 90% of the market value of the flat, whichever is higher.
Some considerations you should include in planning for your next accommodation after selling your flat.
Planning for your next flat purchase should be part of your considerations when you sell your current flat. Before you commit to sell your flat, you should consider the following:
Here are some options that you may consider your next flat purchase:
Financial planning is important and should be done before commencing your next flat purchase. If you intend to buy an HDB flat, you should consider:
Read about granting an Option to Purchase to your buyers.
Learn about submitting a resale application and what to expect after you have submitted a resale application.
Obtain details on the resale completion appointment and the actions to take before and during the appointment.