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FAQ, Glossary and Official Links
Common questions, plain-English definitions, and official resources
FAQ
Does the seller need to register Intent to Sell before granting OTP?
Yes. It’s a precondition, not an afterthought.
How long after Intent to Sell can the seller grant OTP?
At least 7 days.
Does the buyer need HFE before getting an OTP?
Yes. Your HFE should be in place before the seller grants the OTP.
Does every buyer need valuation?
No. If you’re paying fully in cash (no CPF, no housing loan), valuation generally isn’t required.
When must the Request for Value be submitted?
By the next working day after the option date, if you’re using CPF and/or a housing loan.
Can bank-loan buyers exercise OTP before the Letter of Offer is accepted?
Don’t do that. Accept the bank LO first, then exercise.
What is COV?
Cash Over Valuation. The amount your agreed price exceeds HDB’s valuation. Must be paid in cash.
If sale proceeds don’t fully cover the CPF refund, must the seller top up in cash?
Usually no, as long as the flat was sold at market value and the shortfall came after paying off the housing loan.
Is buyer commission fixed at 1%?
No. Commission is negotiable. Whatever rate you agree on should be documented in the estate agency agreement.
Can either party submit the resale application first?
Yes, but the second party must submit within 7 days.
How long can HDB take to accept the application?
Up to 28 working days for a complete case.
When does completion usually happen?
About 8 weeks from HDB acceptance.
How long can extension of stay last?
Up to 3 months after resale completion, if eligible, agreed and declared.
Does the buyer’s MOP start immediately if there’s an extension of stay?
No. Your MOP only starts when you physically move in after the extension ends or is terminated.
Glossary
| Term | Definition |
|---|---|
| ABSD | Additional Buyer’s Stamp Duty. Extra stamp duty on top of BSD, depending on buyer profile and number of properties owned. |
| BSD | Buyer’s Stamp Duty. Stamp duty on property purchases, based on the higher of purchase price or market value. |
| CEA | Council for Estate Agencies. The regulator for estate agencies and salespersons in Singapore. |
| CMA | Comparative Market Analysis. A pricing exercise using valuation references, active competitors and recent transactions. |
| COV | Cash Over Valuation. The amount above HDB’s valuation. Cash only. |
| CPF P+I | CPF principal plus accrued interest used for the property. Usually refunded to CPF when the home is sold. |
| ECF | Enhanced Contra Facility. A resale mechanism relevant to some linked sale-and-purchase situations. |
| EIP | Ethnic Integration Policy. A quota framework that can affect who’s eligible to buy an HDB flat in a specific block or neighbourhood. |
| HDB fire insurance | Basic fire insurance tied to HDB/lender requirements. Verify the current insurer or lender requirement before completion. |
| HFE | HDB Flat Eligibility letter. The key pre-purchase document covering eligibility, grants and HDB loan outcome. |
| HPS | Home Protection Scheme. CPF’s mortgage-reducing insurance for eligible HDB owners. |
| LO | Letter of Offer. The bank’s loan offer you should accept before exercising the OTP. |
| MOP | Minimum Occupation Period. The period you must meet HDB occupation rules before the flat can be sold on the open market. |
| OA | Ordinary Account. CPF account used for housing, investment and approved education. |
| OTP | Option to Purchase. The official HDB resale option document used to secure and later exercise the deal. |
| RA | Retirement Account. CPF account relevant from age 55 onward, which can affect how CPF refunds are routed. |
| Request for Value | HDB valuation request needed when CPF and/or a housing loan is involved. |
| Resale levy | A levy that can apply when a household buys another subsidised home in selected second-subsidy scenarios. |
| SPR quota | Singapore Permanent Resident quota. A rule that can restrict purchase eligibility in selected HDB blocks/neighbourhoods. |
| Temporary extension of stay | An arrangement letting the seller stay in the flat for a limited period after legal completion, subject to HDB rules and both parties’ agreement. |
Official links
HDB
- HDB Flat Portal / My Flat Dashboard
- Submit resale application / Request for Value
- Intent to Sell
- Check EIP / SPR quota
- HDB Map Services
- HDB resale flat prices
- HDB legal fee enquiry
- Download HDB OTP
CPF
- CPF Home Ownership hub
- Home Ownership Dashboard
- CPF housing usage calculator
- Home Purchase Planner
- CPF refund when selling property
IRAS
CEA
- Buying an HDB flat (DIY guide)
- Selling an HDB flat (DIY guide)
- Buying or selling with a property agent
- What to take note of when engaging a property agent
- Verify agent registration