Resale Checklist for Sellers

Sellers must meet the minimum occupation period before granting an Option to Purchase.
Sellers must check that buyers comply with the Ethnic Integration Policy and Singapore Permanent Resident Quota Policy on the date of submission of Resale Application.

Next Housing & Financial Plans

Sellers have to discharge any outstanding mortgage loan and refund the CPF money used to pay for their flat plus accrued interest to their CPF accounts. (Sellers have to use the cash deposit received from buyers to reduce any shortfall in CPF refund if the sale proceeds are not enough.)
Sellers must state their next accommodation under the Section: ‘Confirmation by Seller(s)’ (below).
Sellers are not eligible to apply for HDB rental flats for thirty (30) months after the resale. After the thirty (30) months , they must comply with all the prevailing eligibility conditions to apply for a rental flat.
Sellers who plan to buy another HDB flat have confirmed their eligibility to buy and eligibility for a housing
loan from HDB/banks. If they are taking a second HDB housing loan , the loan amount will be reduced by the CPF balance/refund and half of the cash proceeds (including the cash deposit received) from the sale of their current or immediate past flat (they may keep the greater of $25,000 or half of the cash proceeds). HDB reserves the right to determine the amount of proceeds to be deducted in offering the housing loan.

Sellers who are buying another flat must submit to HDB:

Sellers can use the Sale Proceeds Calculator and Financial Plan Calculator in HDB InfoWEB

HDB’s standard Option to Purchase

Sellers can grant an Option only after at least seven (7) days from the date this Checklist is completed.
Sellers have to read and understand the Option to Purchase document.

Resale Levy / Upgrading Cost (if applicable)

Sellers of a subsidised flat will have to pay a resale levy before they buy or take over the ownership of another
subsidised flat.
Sellers need to settle any outstanding upgrading cost/levy before completion of resale transaction. Resale Information
Sellers are aware that making any false declaration, such as under-declaring or over-declaring resale price, entering into any supplementary agreement or cashback arrangement, is illegal and punishable by law.

Buyers must qualify to buy a resale flat under one of HDB’s eligibility schemes.
Buyers must meet the eligibility conditions if they want to apply for the CPF Housing Grant (including Additional CPF Housing Grant and higher-tier grant).
Buyers must comply with the Ethnic Integration Policy and Singapore Permanent Resident Quota Policy on the date of submission of Resale Application.