Managing the Sale of Your Flat

You may manage the sale on your own or engage the services of a salesperson.

Manage the sale on your own

The following guide will help you in managing the sale of your flat.

Check your eligibility to sell your flat

Start your journey by registering an Intent to Sell via the HDB Resale Portal. After registration, you will be informed of when you may start to 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.

Consider your next accommodation before selling your flat

You should plan your next accommodation, before putting your current flat on the market for sale. Otherwise, your family may be left without a home.

Determine the selling price of your flat

Use our HDB Map Services, resale flat prices and resale statistics to help you set a realistic price.

When selling your flat, you have to pay off the outstanding housing loan, refund the CPF you have used to your CPF Ordinary Account, and off-set any payments due to HDB. You also have to make sure that you have no outstanding service and conservancy charges, and property tax. You may use our online calculator to work out the estimated sale proceeds.

Advertise your flat for sale

You may advertise your flat for sale in online portals, social media, the Classifieds section of the newspapers, etc. We recommend that you find out the differences in cost and details of the various advertising platforms. Choose the advertising platform which best suits your needs and budget.

Essential information

Remember to:

  • Include details, such as:
    • Flat address (block number and street name)
    • Flat type
    • Floor level (Low/ Mid/ High floor)
    • Floor area
    • Asking price
    • Contact information
    • Photos
  • Highlight the attractiveness of your flat, for example:
    • Flat orientation, e.g., north, south, east, or west
    • Conditions of the flat in terms of renovation and upkeep
    • Proximity to MRT station/ school/ town centre
    • Amenities available

Things to expect

You may receive calls from prospective buyers or salespersons, asking for more information about your flat. You may also be approached by salespersons offering to act for you. You can decline their assistance, if you wish to continue to manage the sale on your own.

Proof of flat ownership

Some prospective buyers may request for evidence of your flat ownership and eligibility to sell the flat. 

You may show any one of the following documents to confirm your ownership of the flat:

  • Printout from your My HDBPage to show that you have met the minimum occupation period to sell your flat
  • Town council statement
  • Title deed

Negotiate with potential buyers

Other than the flat price, there are other matters you will need to consider when you negotiate with the flat buyers:

Deposit

Buyers have to pay you an Option Fee when you grant an OTP. They also have to pay you an Option Exercise Fee when they exercise the OTP.

The Option Fee (amount of $1 to $1,000) and Option Exercise Fee make up the deposit, which must be between $2 and $5,000 in total.
Submission of resale application

Under Clause 12 of the OTP, you and the buyer will agree on the timeframe to submit your resale application to HDB.

This is a contractual agreement between you and the buyer. The timeframe can be extended with mutual consent.
Extension of Stay

If you have committed to buy a completed property in Singapore and need more time to move out, you may arrange with the buyers for a temporary extension of stay in the flat for up to 3 months after the resale completion.

The temporary extension of stay is subject to the buyers’ agreement.

If you require this arrangement, be sure to discuss with your buyers before granting the OTP.
Any other matters E.g. will you leave behind any furniture or appliances? You may offer these items to your flat buyers and include them in the inventory list of the OTP.

Understand the HDB resale procedures

The HDB Resale Portal provides a step-by-step guide on your buying journey. You may also read the following for more details of the resale procedures:

To better understand the resale process, you may sign up for a resale seminar conducted by HDB.

Engaging a salesperson

You may engage a salesperson to help you manage the sale of your flat. However, you still need to know your eligibility to sell your flat and settle your next accommodation. You may read the information in 'Managing the sale on your own', and also:

  • Read the Council for Estate Agents' (CEA) Consumer Guide and their educational materials for practical tips for engaging the services of a salesperson.
  • Check the CEA’s Public Register to make sure that the salesperson is registered with CEA as a licensed salesperson
  • Ensure that you discuss with the salesperson and mutually agree on:
    • The terms of service
    • The commission payable
    • The period of representation
    • Any exclusivity (if agreed upon)
    • Any other terms, such as payment for advertising, etc.

Engaging a salesperson is a private matter between you and the salesperson. If you have any issues relating to estate agents or their salespersons, please seek clarification from CEA.