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With effect from 10 March 2014 5pm onwards, all HDB valuation request can only be done provided an OTP is granted. The new OTP period will be extended from current 14 days to 21 days.

Key points to note for this new HDB Resale Procedure:

1) Option will be extend to 21 days & both seller & buyer is lock in. (Buyer are not allow to enter into another option,)

2) After option granted, only buyer or buyer’s salesperson can request for valuation through HDB & MUST submit within 1 working day (Working days is from Monday to Saturday)

3) Seller must allow valuer to enter premises within the 4 working day.

4) In event if the buyer doesn’t exercise, valuation need to be re-request & cannot be use again. (Any change in price even if both seller & buyer are the same person, valuation request have to be resubmit again).

5) New HDB resales procedure starts from 10 March 2014 at 5pm.

Here’s the illustration of the new HDB resales procedure:

New HDB Resale Procedure - 10 March 2014

For more details, do visit  http://www20.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/A656E10CAFBBD81948257C9700243AC0?OpenDocument