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Follow This HDB Resale Payment Timeline When Selling or Buying HDB

Maelyn Lagman

Selling your current home and buying a new one can be very exciting. But paying for the transaction fees and stamp duties, not so much. No matter what you do, though, making payments (on time!) is integral to completing your HDB resale transaction. So we’ve come up with a definitive HDB resale payment timeline that will keep you on track of your incoming and outgoing payments when selling or buying a HDB flat.

HDB Resale Payment Timeline for Sellers

TimelineJourneyPayment
Register Intent to Sell
Post listing on Ohmyhome and start marketing
Start home viewings & conduct negotiations
Grant OTP* to Buyer
*OTP needs to be exercised within 21 days
Incoming: 
$1-1,000 (Option Fee)
Within 21 daysBuyer exercise OTPIncoming: 
$1-4,000 (Exercise Fee)
Within agreed number of days between seller and buyerSubmit Resale ApplicationOutgoing:
$40-80* (Resale Application Fee)

*1- and 2-room: $40 
3-room and bigger: $80
Approx. 4 weeks laterReceive Acceptance of resale application from HDB & Endorse HDB documents Outgoing:
– $300-$500 (HDB Legal conveyancing fees)
– Refund of Deposit to CPF (in the case of negative CPF sale)
In 8 weeks

HDB Resale Completion AppointmentIncoming:
Cash Proceeds
– CPF Refund (within 2 weeks from Completion date)

Outgoing:
– Outstanding Property Tax (if any)
– Town Council Service and Conservancy Fee (balance payment up to Completion date) 
– Mortgage Discharge fee (where applicable)
– From $1,800 (Conveyancing Fee with Ohmyhome Legal Conveyancing Services)
– 1% of the sale price (Ohmyhome Agent Fee)
– Refund of $20 HDB admin fee to Buyer if there is a request for Extension of Stay 

To dive deeper into the HDB selling process, go here.

HDB Resale Payment Timeline for Buyers

TimelineJourneyPayment
Register Intent to Sell
Calculate affordability:Get HLE letter* from HDB or IPA** from a bank
*Valid for 6 months from date of issue.**Valid for 2 months from date of issue.
Start home viewings & conduct negotiations
Receive OTP* from Seller
*OTP needs to be exercised within 21 days
Outgoing: 
$1-1,000 (Option Fee)
Request for Valuation of flat &
Have valid HLE letter or Accept Letter of Offer from the bank
Outgoing:
$120 (Request for Valuation Fee)

Within 21 daysExercise OTPOutgoing: 
$1-4,000 (Exercise Fee)
Within agreed number of days between seller and buyerSubmit Resale ApplicationOutgoing:
$40-80* (Resale Application Fee)

*1- and 2-room: $40 
3-room and bigger: $80
Approx 4 weeks later Receive Acceptance of resale application from HDBEndorse HDB documentsOutgoing:
– Downpayment via CPF^ 
– $800-$1,000 (HDB Legal Conveyancing Fee, if applicable) 
– From $1,800 (Conveyancing Fee with Ohmyhome Legal Conveyancing Services, if applicable)
– Stamp fees (where applicable)
– $20 (HDB Admin Fee, in case Extension of Stay is granted to Seller)
Within 14 days of endorsing documentsReceive Approval of HDB Resale ApplicationOutgoing:
Buyer’s Stamp Duty
– Cash Balance of Purchase Price (to cover any part of the purchase not covered by the home loan or CPF)
8 Weeks upon receiving Acceptance noticeHDB Resale Completion AppointmentOutgoing:
– ^Balance of Purchase Price to be paid by Cash (for amount not covered by the home loan or CPF)
– Cash over Valuation (if any)
– Apportioned Property Tax to be paid to Seller (pro-rated based on the portion of the year for which you own the property)
– 1% of the sale price (Ohmyhome Agent Fee)

Incoming:
– $20 HDB admin fee for Extension of Stay (Seller to refund to Buyer)

To dive deeper into the HDB buying process, go here

With a property agent, you won’t even have to worry about any of this. With Ohmyhome, our agents will personally notify you about any upcoming payments you need to make so you don’t incur a late fee, and help you with your financial planning so you can manage your cash flow better through it all.

Drop us a message on WhatsApp if you’d like to meet any of our agents, or simply chat with us via our Live Chat at the bottom, right-hand corner of the screen.

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