Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
HDB • Valuation process, option exercise fee for resale flats ensure fairness in transactions
The Straits Times
|October 02, 2024
We thank Mr Zhang Jinwei for his feedback (Relook practices governing resale of HDB flats, Sept 18).
HDB resale transactions are conducted on a “willing-buyer-willing-seller” basis. After a resale price has been agreed upon, the flat sellers will grant an option to purchase (OTP) to buyers, who pay an option fee of up to $1,000 in cash. When buyers exercise the OTP, they will have to pay an option exercise fee. This, together with the option fee, is capped at $5,000 and forms the deposit for the flat.
Flat buyers who decide not to exercise the OTP will forgo the option fee paid to the seller. The option fee is kept affordable for flat buyers while safeguarding flat sellers’ interests.
This story is from the October 02, 2024 edition of The Straits Times.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Straits Times
The Straits Times
Shop for cosy, comfy fitness gear at these three Singapore brands
Entering your soft era?
4 mins
October 31, 2025
The Straits Times
AUTUMN MYSTERY ON DERBY MISSION
Little-known Victorian trainer ‘living the dream’ with live chance at maiden Gl glory
2 mins
October 31, 2025
The Straits Times
S'pore forms company to buy green jet fuel
A company has been set up to buy and manage a supply of sustainable aviation fuel for Singapore’s air hub, the Civil Aviation Authority of Singapore (CAAS) said on Oct 30.
4 mins
October 31, 2025
The Straits Times
Commuting Clearer queue markings needed at bus interchange
I recently visited the Woodlands Integrated Transport Hub to board service 168. The berth I went to has three different bus services sharing the same space.
1 min
October 31, 2025
The Straits Times
Property Review clause for lease renewal commissions in agency agreements
The Council for Estate Agencies (CEA) should review the \"renewal commission\" clause found in its prescribed Estate Agency Agreement for the Lease of Residential Property by a Landlord.
1 min
October 31, 2025
The Straits Times
Forget gold. Aluminium is the real metal of the moment
For the last 25 years, Beijing has single-handedly supplied the world's incremental demand for the metal.
1 mins
October 31, 2025
The Straits Times
ATHLEISURE RENEWED
It may have peaked in the West, but players here say the fashion trend is still alive and kicking in Singapore
8 mins
October 31, 2025
The Straits Times
Tech sector sees layoffs amid rising Al use
The axing of 14,000 roles announced by Amazon on Oct 28 comes amid increasing use of artificial intelligence (AI) tools for routine tasks.
3 mins
October 31, 2025
The Straits Times
My Best Shot to defy handicap in Algoa Cup
Oct 31 South Africa (Fairview/Greyville) preview
5 mins
October 31, 2025
The Straits Times
Manpower Perm Sec Ng Chee Khern to retire; changes to other posts
Manpower Permanent Secretary Ng Chee Khern will retire on Dec 1, marking an end to 41 years in the public service during a career filled with distinction.
2 mins
October 31, 2025
Listen
Translate
Change font size