Corrected and checked 2 October 2026. This checklist separates HDB resale, completed private resale and uncompleted developer purchases. It replaces the earlier combined payment table and inaccurate HDB deposit, stamp-duty and financing examples.
Before paying for a home, make one file containing the eligibility decision, sale documents, funding schedule and key dates. Each payment should have an amount, recipient, due date and source of funds. A budget that balances eventually can still fail if cash is unavailable when a deposit or tax payment falls due.
This is a document and payment checklist, not a determination that your household can buy a particular property. New HDB flats and new ECs have their own eligibility and purchase processes. Do not copy a resale condo’s deposit schedule into either purchase.
1. Identify the transaction before using a percentage
| Purchase | What to obtain before commitment |
|---|---|
| HDB resale | Valid HFE letter, HDB-prescribed OTP, financing plan and the property-specific checks required by HDB |
| Completed private resale | Proposed OTP or sale contract, title and possession checks, financing terms and evidence of the unit’s condition |
| Uncompleted private home from a developer | Mandatory project and unit information, developer’s OTP, applicable sale agreement and payment schedule |
| New HDB flat or new EC | The relevant HDB eligibility and project purchase documents; a separate budget based on those documents |
For HDB resale, HDB requires a valid HFE letter before entering into an OTP. Check the named applicants and occupiers and any changes in circumstances. A bank’s in-principle indication is useful preparation, but it is not the same document as a binding loan offer for the selected home.
For an uncompleted private purchase, URA explains the mandatory information and sale-document stages. Read the unit-specific details before paying a booking fee. For a completed property, ask for approved plans and investigate alterations, rather than assuming everything visible at a viewing was authorised.
2. Keep HDB deposits separate from private-property conventions
Under the HDB resale process, the negotiated option fee is S$1 to S$1,000. The option fee plus the option exercise fee must not exceed S$5,000. These payments go to the sellers and form part of the resale price. They are not a universal 1% plus 4% formula.
The HDB option period is 21 calendar days, including weekends and public holidays. HDB’s example gives an option dated 1 April an expiry on 22 April at 4pm. Record the actual expiry written in your OTP. Do not substitute a private-property convention for this deadline.
Before exercising, HDB says buyers using CPF or a housing loan must have the flat value available. A buyer taking a financial-institution loan must have a valid Letter of Offer dated on or before exercise. The HDB OTP page sets out these steps. Allowing an unexercised HDB OTP to expire forfeits the option fee; obligations after exercise are different and need transaction-specific advice.
For a private purchase, have the conveyancing lawyer identify the deposit, exercise procedure, recipient and deadline in the actual contract. Do not assume every private OTP has identical terms or that a separate sale agreement will always be signed after exercise.
3. Treat stamp duty as an early dated obligation
IRAS’s general stamping rule requires stamping before signing. If already signed, the no-penalty timeframe is within 14 days after signing in Singapore, or within 30 days after receipt in Singapore for a document signed overseas. Electronic documents have specific execution and receipt rules. Ask the lawyer to identify the relevant instrument and trigger date; completion day is not a general extension.
CPF Board confirms that eligible OA savings can cover both BSD and ABSD. That does not mean the money is immediately available. Its guidance says cash is generally needed first, followed by reimbursement when the CPF charge can be lodged. For completed properties reimbursement is processed on completion. For properties under construction, direct OA payment depends on completing the legal documentation and lodgment within the stamping period. HDB-loan applicants should verify their arrangements with HDB.
Keep a stamp certificate or payment confirmation in the purchase file. If CPF reimbursement is expected, enter it on its expected receipt date, not as a reduction in cash needed on the tax due date. Confirm eligibility and usable balances before relying on either CPF or a grant.
4. Reconcile the price, loan and own funds without double counting
Here is a deliberately limited funding example for a S$780,000 home, assuming market value is also S$780,000. Assume a confirmed loan of S$500,000 and S$200,000 of approved CPF for the price. No claim is made that a particular income qualifies for that loan, that a grant is available or that the buyer owes no ABSD.
| Component | Amount |
|---|---|
| Purchase price | S$780,000 |
| Assumed confirmed loan | S$500,000 |
| Assumed approved CPF towards price | S$200,000 |
| Total cash towards price | S$80,000 |
| If S$5,000 price deposit already paid in cash | S$75,000 cash towards price remains |
The S$5,000 deposit is included in the S$80,000, not added to it again. Under IRAS’s current residential BSD bands, duty on S$780,000 is S$1,800 + S$3,600 + S$12,600 = S$18,000. The final band here applies to S$420,000, the amount above S$360,000. The earlier article incorrectly used S$440,000 and overstated the duty.
If that S$18,000 must initially be paid in cash, the example needs S$98,000 of cash for the price and BSD before any later reimbursement. Add applicable ABSD, legal and loan fees, renovation, moving and the household’s reserve. Those are not included in the table. A lower valuation, smaller approved loan or lower usable CPF balance requires the budget to be rebuilt before commitment.
5. Put completion and possession in separate boxes
Record when legal completion is expected and when you can actually occupy the home. A continuing tenancy, agreed possession arrangement or essential works can change the moving date. For HDB, follow HDB’s application and completion instructions. For private property, use the actual contractual terms and the lawyer’s completion statement.
Before transferring money, confirm payment instructions through a previously verified contact channel. Match the recipient and purpose to the lawyer’s or HDB’s instructions. Keep receipts, the final statement and evidence of any price deposit already credited.
At handover, check access devices, agreed included items, meter readings and the condition of the home. For a new unit, document defects and follow the applicable notice procedure. Arrange utilities, insurance appropriate to the property and loan, and owner-occupier property-tax matters where relevant. Insurance requirements should be checked against the actual scheme and lender, rather than treated as a single rule for all homes.
Before you sign: five unanswered questions that matter
- Does our eligibility and funding evidence match this exact home and the people buying it?
- Which payments require cash before loan or CPF money becomes available?
- Who has confirmed each tax, option, payment and possession deadline?
- What happens to the household budget if the loan is lower or the move is later?
- Have we retained the documents and receipts that show what we agreed and paid?
For broader preparation, use the buyer’s planning checklist. For deciding between a developer purchase and resale, use the move-in and cost comparison.
Scope and method: primary HDB, CPF, IRAS and URA guidance checked on 2 October 2026. The funding example is arithmetic, not a loan assessment or personalised legal advice. Unsupported earlier eligibility summaries, timelines, insurance claims and three graphics have been removed.
Featured photograph: Choa Chu Kang archive street scene, not a property offered for sale or the home in the example. Choa Chu Kang Way 1 (photographed 2022). Photo: Wzhkevin. Source · CC BY-SA 4.0.
