Before the OTP
The seller must register an Intent to Sell with HDB and wait out a 7-day cooling-off period before granting an OTP. Only the HDB-prescribed OTP form is valid.
Fees
- Option fee on granting the OTP: between S$1 and S$1,000.
- Option exercise fee: an amount which, with the option fee, does not exceed S$5,000.
Both form part of the resale price.
The option period
The buyer has 21 calendar days, including weekends and public holidays, to exercise. It expires at 4pm on the 21st day. For example, an OTP granted on 1 April expires at 4pm on 22 April. The seller cannot grant another OTP until the current one expires.
After exercise
Buyer and seller submit the resale application to HDB within the timeframe they agreed in the OTP.
Check the current process on HDB’s website. Practise HDB questions free →