A Toa Payoh HDB resale buyer who plans to use CPF savings or an HDB or bank housing loan must usually submit a Request for Value after the seller grants the prescribed Option to Purchase (OTP). HDB requires the request to be submitted through My Flat Dashboard by the next working day after the OTP date, together with a scanned copy of the first page of the option. The current processing fee is S$120 including GST, and the value outcome is typically available within ten working days. The buyer must wait for this result before exercising the OTP, because the accepted value affects the CPF housing usage and the reference for the mortgage loan amount.
Cash-Over-Valuation (COV) occurs when the agreed resale price exceeds the value used for financing. The difference normally needs to be funded in cash rather than by increasing permitted CPF withdrawals or the housing loan. For example, if the seller and buyer agree on S$800,000 and HDB’s accepted value is S$760,000, the S$40,000 gap must be planned for separately. That is in addition to the relevant downpayment, Buyer’s Stamp Duty, legal fees and moving expenses. A buyer using only cash, with no CPF or housing loan, normally does not need a Request for Value, but still must satisfy HDB purchase eligibility and other resale conditions.
- Prescribed sequence: valid HFE letter, seller’s HDB OTP, buyer’s Request for Value, outcome, decision whether to exercise, resale application.
- Request timing: by the next working day after the OTP’s Option Date.
- Supporting document: scanned first page of the prescribed OTP, plus the required buyer, seller, flat and option details.
- Current fee: S$120 inclusive of GST for each Request for Value under HDB’s published policy.
- Outcome timing: typically within ten working days, but the exact case may vary.
- OTP period: twenty-one calendar days including weekends and public holidays, counted from the grant date.
- Critical order: the buyer must wait for the Request for Value outcome before exercising the OTP.
- Value validity: three months from availability of the result; both resale application portions and documents must be submitted during that period.
- Cash-only exception: no Request for Value is needed when there is no CPF housing use and no housing loan.
- Valuation inspection: HDB decides whether to engage an appointed panel valuer; the seller must grant required inspection access.
- COV: agreed selling price minus the relevant value when the agreed price is higher.
- Financing basis: the lower of applicable price or value generally determines the usual loan and CPF valuation limits.
- Standard loan limit: a qualifying first housing loan may be up to 75% LTV, but actual loan approval depends on age, income, debt and lease.
- Older flats: CPF’s age-95 lease rule can reduce permitted OA usage independently of the accepted valuation.
- A new value request: may be required if the linked resale applications are not completed within the three-month validity period.
- HDB approval: the Request for Value result is not approval for the flat purchase or resale itself.
- Next step: calculate real cash needed for both the valuation gap and transaction costs before exercising the OTP.
Chapter 1: Why Request for Value matters
A resale flat’s advertised price is set by its seller, possibly with help from a property agent. A buyer may agree with that price after viewing the home, comparing nearby transactions and assessing its layout or renovation.
But the lender and CPF Board need an accepted value for financing purposes. HDB’s Request for Value process provides that reference, with a formal inspection where the authority decides one is necessary.
The outcome can determine whether the purchase remains affordable. A buyer who assumes the entire agreed price can be financed may discover a cash requirement after valuation. The useful approach is to treat the agreed price and financing value as separate numbers.
Definition lock: price, value and COV
The agreed resale price is the amount the buyer and seller commit to in their OTP. The accepted value is the figure HDB provides for its prescribed financing and CPF purposes, unless the bank’s rules specify otherwise.
Cash-Over-Valuation is the excess when the agreed price is higher than the relevant accepted value. If there is no positive excess, no COV is calculated from those two figures.
These concepts are related but not interchangeable. A property can have a high agreed price and a lower accepted value, or an accepted value greater than the agreed price. The resulting financing calculation follows the actual lower-of-price-or-value rules.
Why sellers choose asking prices
An asking price can reflect recent transactions, renovations, floor level, location, remaining lease and personal preferences. It may also include optimism about demand from other buyers.
The asking price is not a government valuation. A seller is allowed to propose a price within lawful market negotiation, but the buyer and lender are not required to accept it as the property’s financing value.
A buyer should compare actual HDB resale transactions and decide on a maximum affordable price before signing the option. Marketing claims are not a substitute for the later official Request for Value.
Why a renovated flat may cost more
A newly renovated home can be attractive because the buyer might avoid some immediate work. Built-in storage, upgraded kitchen finishes and modern bathrooms can add practical value.
However, renovation cost does not automatically equal increased financing value. A seller who spent S$100,000 on elaborate finishes cannot assume HDB’s reference value will be S$100,000 above a comparable flat.
A buyer should value the renovation by its actual usefulness and condition. Expensive design features can be personal preferences that a future owner may want to remove.
Chapter 2: The twenty-one-day OTP window
HDB’s standard resale Option to Purchase has a twenty-one-calendar-day option period from the date the seller grants it. Weekends and public holidays are counted.
That creates a defined time for the buyer to complete the Request for Value and decide whether the price and financing remain suitable. A buyer should plan before receiving the option rather than wait until the final day to gather documents.
The seller is bound by the valid option’s terms during the agreed period. The buyer’s obligation to exercise is separate from submitting a Request for Value.
Start with a valid HFE letter
HDB requires a resale buyer to have a valid HDB Flat Eligibility letter before a seller grants the OTP under the applicable rules. The letter assesses the household’s purchase eligibility and potential grants or HDB loan options.
Having an HFE result does not establish the value of a specific Toa Payoh resale unit. The buyer still needs the Request for Value where CPF or housing loan funding is involved.
A strong transaction plan starts with the general eligibility question and then addresses the property-specific financing. Reversing the order risks unnecessary option commitments.
The exact next-working-day requirement
HDB directs buyers using CPF or housing-loan financing to submit their Request for Value by the next working day after the OTP Option Date.
A working day for this process is generally Monday to Friday excluding public holidays. This can make the deadline different from simply adding one calendar day after a Friday option.
Prepare the information before signing so the request can be lodged promptly. A buyer should not rely on a property agent’s promise to submit it sometime during the twenty-one-day period.
What the request needs
HDB’s Request for Value service requires the relevant flat address, OTP serial number, grant date, agreed resale price and option fee, along with applicant and seller details.
It also requires the scanned first page of the OTP and the valid HFE reference. The service provides permitted formats for uploading the document.
Make a clear scan with readable details and keep the original option securely. An unclear or incomplete upload can delay the process at a time when the option period continues to run.
The S$120 processing fee
HDB currently charges S$120 including GST for a Request for Value. This is a processing fee for the formal valuation reference procedure, not a deposit credited towards the property purchase.
A buyer should include it in the transaction budget. If another request becomes necessary under the rules, the household should not assume the initial payment covers all subsequent requests.
The exact amount is based on current HDB policy and should be checked for the 2027 or 2028 application date. Small transaction fees can change without altering the underlying purpose of the service.
Who submits the request?
The buyer may submit the Request for Value through My Flat Dashboard. If the buyer has appointed a property salesperson, HDB allows an authorised salesperson to submit it through appropriate e-Resale or Estate Agent Toolkit access.
That does not remove the buyer’s responsibility to understand the result and confirm the decision before exercising. A professional can coordinate paperwork but cannot guarantee the value HDB will return.
Check the submitted details and protect identity information. A buyer should not hand over Singpass passwords as a substitute for using the authorised processes.
Chapter 3: Does HDB inspect every flat?
HDB has the discretion to determine whether a physical valuation is necessary. Not every Request for Value automatically produces a visit by an appointed valuer.
When inspection is required, HDB chooses a valuer from its appointed panel. The buyer or seller cannot insist on choosing the individual valuer as a way to achieve a desired result.
The accepted value is determined through the official process. A homeowner’s private valuation or an agent’s opinion can be useful background but is not automatically HDB’s financing reference.
Seller access when an inspection is arranged
HDB’s terms require the seller to allow the appointed valuer to inspect the flat within three working days of the relevant notification of appointment, under its specified conditions.
Sellers should maintain reasonable access arrangements during the option period. Refusing or repeatedly delaying a required inspection can affect the buyer’s ability to obtain the value before the OTP deadline.
A buyer should explain this requirement early. A cooperative seller protects the transaction even if the final valuation differs from the agreed price.
Why the seller should not influence valuation
An appointed valuer’s role is to assess the property under professional standards and HDB’s process, not to agree with either side’s financial wishes.
A seller may have spent substantial money on renovation or prefer a particular result. Those preferences do not make it appropriate to pressure the valuer or misrepresent the property’s condition.
Accurate information about floor area, lawful renovations and comparable characteristics can help the process. False documents or hidden arrangements create much greater risks than an unfavourable result.
How long the outcome usually takes
HDB says the Request for Value result is typically available within ten working days after the request is submitted. The buyer receives a notification when it is accessible through My Flat Dashboard.
This is a typical processing time, not a guarantee for every complex case. A valuation inspection, missing information or other administrative issues may affect the schedule.
Because the OTP remains valid for twenty-one calendar days, timely submission is important. A buyer should not wait until the middle of the option period to start the process.
You must wait before exercising
HDB’s Request for Value guidance explicitly requires the buyer to wait for the outcome before exercising the resale OTP when a Request for Value is required.
This allows the buyer to know the accepted value and reassess cash, CPF and mortgage funding before becoming contractually committed to the purchase.
An agent urging a buyer to exercise immediately while the valuation remains unknown should be challenged against the official process. The buyer’s financial security depends on making an informed decision.
Chapter 4: Calculating Cash-Over-Valuation
Suppose an HDB resale flat in Toa Payoh has an agreed price of S$800,000 and a value of S$760,000 for the relevant financing purposes.
The excess is S$40,000. That is the COV in this illustration. It is not an additional fee paid to HDB, nor a subsidy recovery charge. It is part of the agreed purchase price that exceeds the financing valuation.
The buyer must plan the additional cash needed according to the actual CPF and lender rules. This example does not imply any specific Toa Payoh block will have that valuation gap.
Why COV cannot simply be added to the loan
HDB and financial institutions assess the housing loan against the permitted reference value and other lending criteria. A buyer’s willingness to pay a higher agreed price does not automatically increase the amount the lender may finance.
If the financing base is lower than the price, the buyer must cover the remainder using eligible CPF and cash, with the COV component requiring cash under the usual rules.
A large loan offer therefore does not remove every cash risk. The property valuation and the household’s affordability must be assessed together.
An illustration with 75% LTV
Using the hypothetical S$800,000 purchase and S$760,000 valuation, a maximum 75% LTV based on the lower relevant value would be S$570,000 before individual income and other restrictions.
That leaves S$230,000 of the purchase price to be met outside the housing loan. Within that amount, S$40,000 is the price-versus-value gap, while the rest is the ordinary non-loan portion of the value.
This does not mean the entire S$230,000 necessarily must be cash for every eligible buyer. Some of the non-COV portion may be funded using permitted CPF savings, subject to the actual rules. The household needs a complete source-of-funds plan.
The difference between COV and cash downpayment
A bank-financed HDB purchase generally has a minimum cash component under the prevailing loan rules. That cash requirement is distinct from the amount by which the agreed price exceeds valuation.
A buyer could therefore need cash for the bank’s minimum contribution plus the COV and transaction costs. The exact composition should be calculated using the approved financing arrangement.
Do not assume paying the COV automatically satisfies every other required cash amount. A correct breakdown avoids double counting or leaving a funding gap.
What if HDB’s value exceeds the purchase price?
Suppose the agreed price is S$720,000 and the accepted value is S$750,000. For the usual lower-of-price-or-value financing reference, the purchase price remains the lower amount.
The buyer does not automatically gain an extra S$30,000 of loan or CPF capacity just because the value is higher. The actual mortgage and CPF limits continue to apply.
There is no positive COV in this illustration. That is useful, but the buyer still needs the downpayment, duties and sufficient financing approval.
COV is not a refund owed by the seller
A buyer who discovers a value below the agreed price may feel disappointed. But the seller does not automatically owe the buyer the difference.
The agreed price is part of the OTP, and the buyer must decide within the option period whether to exercise under the applicable legal conditions. Any attempted renegotiation needs the seller’s agreement and proper treatment of the contractual terms.
The seller may be willing to discuss price, but no one should promise that HDB will compel the seller to reduce it to the accepted value.
Chapter 5: What can CPF pay?
CPF housing usage is governed by rules based on the property’s price or valuation, lease and the buyer’s age and circumstances. It is not simply permission to spend any Ordinary Account balance on any agreed property price.
In a normal eligible purchase, CPF savings can contribute to the downpayment and housing instalments within prescribed limits. They cannot automatically finance the agreed amount above the relevant valuation.
A buyer should use CPF’s Housing Usage Calculator and actual account balances. This prevents confusing permitted withdrawals with savings that are available but legally reserved for retirement.
The age-95 lease guideline
CPF uses the age-95 reference to assess whether a property has enough remaining lease to cover the youngest relevant buyer in the long term.
Where the remaining lease is insufficient, a pro-rated CPF usage cap may apply, even when the property otherwise meets purchase eligibility and valuation requirements. This can create an additional cash demand beyond COV.
Some older Toa Payoh flats have less lease remaining than newer replacement blocks. A buyer should check the exact flat and not assume every block in the mature town has the same financing treatment.
What if CPF is insufficient?
A buyer might have an approved HDB loan and a value with little or no COV but still have inadequate permitted CPF OA savings for the balance purchase price.
The remaining amount needs another lawful funding source, normally cash. It is not enough to demonstrate that the household’s monthly salary should cover later instalments.
Budget the upfront purchase separately from long-term repayment. A family should keep appropriate emergency savings rather than exhaust all cash to secure a particular renovated flat.
HDB loan versus bank loan
An eligible HDB housing loan generally offers a different minimum cash downpayment arrangement from a financial institution loan, but both still depend on the relevant financing value and assessed borrowing capacity.
A bank may also have its own valuation requirements under its Letter of Offer, and HDB’s Request for Value guidance allows reference to the bank’s instructions where applicable.
Ask the actual lender how it treats the property, amount and cash requirement before exercising. A generic loan-to-value percentage is not a promise that the bank approves the full amount.
Existing debt and income affect approval
A household with car loans, other mortgages or variable earnings may qualify for less than the theoretical maximum LTV. HDB and financial institutions apply income and debt-servicing assessments under the relevant rules.
This can make a property with no COV still unaffordable. A favourable valuation cannot repair a mortgage that the household cannot service.
The buyer should keep the price ceiling tied to verified income and real monthly expenditure. A home is more secure when it remains manageable after ordinary family responsibilities.
Chapter 6: The cash-only exception
HDB says a buyer financing the purchase entirely with cash, with no CPF savings and no housing loan, does not need to submit a Request for Value for the normal financing-reference purpose.
This does not mean the buyer is exempt from other HDB requirements, property tax, stamp duty or lawful transaction rules. The purchase still follows the prescribed OTP and resale application process.
A cash-only buyer should consider the opportunity cost of placing a large amount of liquid savings into one property, especially a flat with a shorter remaining lease.
Market value still matters for taxes
Even where an HDB Request for Value is not required because the buyer uses all cash, IRAS generally calculates Buyer’s Stamp Duty on the higher of the agreed price or market value under the applicable rules.
A cash-only purchase does not create permission to understate the true consideration or ignore valuation-based tax rules.
The buyer should obtain appropriate tax advice where a transaction is unusual, such as a related-party sale below market value. HDB and IRAS calculations answer different legal questions.
Why a cash buyer should still compare prices
A buyer funding the full purchase in cash may be able to avoid a mortgage valuation constraint, but should not overpay without considering comparable flats, remaining lease and future resale demand.
The family could be tying a substantial portion of retirement or emergency savings to a property that may become harder to sell as its lease shortens.
Affordability is not only whether the bank will lend. It is whether the household retains adequate financial resilience after making the purchase.
Chapter 7: How long the Request for Value lasts
HDB’s current guidance gives a value outcome validity period of three months from the date the result becomes available in My Flat Dashboard.
Both buyer and seller must submit the relevant portions of the resale application, with supporting documents, during that period. Otherwise a fresh Request for Value is required for that transaction.
An accepted value is therefore not a permanent appraisal that can be reused years later. Markets and property circumstances can change, and HDB’s system has specific validity rules.
Why the three-month period matters
A buyer may receive the value outcome and then spend weeks waiting for the seller to arrange their next home. If submission is delayed beyond the validity period, a new value request can become necessary.
That may affect the financing reference and the buyer’s available cash. A buyer should not assume the earlier accepted value will automatically be preserved.
Agree on the resale application timetable before the OTP and coordinate documents promptly. The owner and buyer both benefit from avoiding unnecessary expiry.
A new OTP may need a new request
HDB’s February 2026 resale terms state that the value applies to the specific OTP and transaction for which the request was made, not automatically to another buyer or a different option.
A new purchaser of the same flat cannot simply rely on a previous buyer’s valuation outcome as if it were an inherited financing approval.
The proper process is to submit the required new Request for Value under the applicable circumstances. The fee and timing should be included in the new buyer’s budget.
HDB may restrict overlapping requests
HDB’s current resale terms explain that while a Request for Value has been received for a particular OTP, it generally does not accept another request by the same or a different buyer for that flat until the option expires, subject to HDB’s discretion.
This is intended to maintain a clear transaction process rather than encourage repeated attempts to obtain different values for the same unit.
A seller should therefore not promise several competing buyers immediate official valuations while a valid option remains outstanding.
Chapter 8: The official valuation is not purchase approval
The Request for Value is an input to financing and CPF calculations. HDB’s resale terms expressly state that accepting the request does not constitute approval to buy or sell the flat.
The actual resale application still needs HDB approval, including the buyer’s household eligibility, seller’s ability to sell, MOP and other conditions.
Treat the value as one checkpoint. An apparently favourable outcome cannot cure a missing HFE letter, an ineligible buyer category or a legal restriction on the flat.
EIP and SPR quotas remain separate
HDB’s Ethnic Integration Policy and SPR quotas can restrict the purchase of a specific resale flat, regardless of its agreed price or accepted value.
HDB updates quota information monthly and requires checks at several transaction milestones. A buyer should not assume an attractive valuation locks in ethnic or citizenship quota eligibility.
Check the actual address and real household status through the official service. Financing and demographic eligibility are different approvals.
Minimum Occupation Period matters to the seller
A seller generally must have completed the applicable MOP before selling a normal HDB flat on the open market. This condition depends on the original purchase and classification.
A buyer should verify that the seller is eligible to sell, normally through HDB’s Intent to Sell and resale procedure. A low valuation is irrelevant if the seller cannot lawfully dispose of the property.
The same principle applies to short-lease senior flats and certain other special products that cannot be sold in the usual way.
The buyer’s own future MOP
Purchasing an unclassified or Standard HDB resale flat generally creates a five-year MOP, while Plus and Prime resale flats have longer ten-year requirements and additional conditions.
A buyer should understand the ownership commitment before exercising the OTP. Even a financially favourable purchase can be unsuitable if the household expects to move or sell soon.
COV is an immediate cash question. MOP is a long-term legal question. A responsible buying decision needs both answers.
Chapter 9: Comparing two Toa Payoh flats
Imagine a buyer choosing between a renovated older four-room flat near Toa Payoh Central and a less renovated unit in another Lorong. The first has a higher asking price and possibly a shorter remaining lease.
The buyer should compare actual valuation outcomes when available, likely cash requirements, transport, renovation and mortgage costs. A high price may reflect usable improvements, but it may also contain a premium the lender will not recognise.
A lower-priced home might need more renovation, while a higher-priced one might need more COV. The correct decision is the full cost of a suitable home, not whichever has the most attractive photographs.
How future Caldecott development should be treated
Toa Payoh West’s master plan includes new housing, green spaces, an eventual mall and transport-related amenities around the operating Caldecott MRT interchange.
These proposals can be relevant context but do not guarantee immediate appreciation or determine the accepted financing value of a nearby older resale flat.
A buyer should avoid paying a large speculative premium on the assumption that a future public amenity will make an existing unit’s value rise by a fixed amount. Use current completed transactions and the actual Request for Value.
Why lower-floor homes may differ
Floor level, facing direction, condition and access can affect a property’s desirability and market comparison. A buyer may prefer a particular view or a short lift journey.
The accepted value is nonetheless determined by HDB’s process, not by the owner’s subjective price for a view. A particular unit’s unique attributes may be considered but should not be translated into invented guaranteed valuation premiums.
Choose the home based on real household needs and financing, not a belief that one feature always adds a fixed amount to market value.
High advertised prices are not transactions
Property listing prices are requests. Completed transactions show what buyers actually paid under those market conditions.
HDB publishes past resale transactions, which can help buyers form an evidence-based budget. A seller may ask far above recent comparable sales, but that does not mean a lender will support the difference.
Use the official transaction history as one input alongside lease, floor and condition. Do not extrapolate from one outlier sale to every flat in the neighbourhood.
Chapter 10: Worked financial scenarios
The most useful way to prepare for valuation uncertainty is to calculate at least three cases: accepted value equals agreed price, accepted value modestly lower and accepted value substantially lower.
For each case, record the maximum realistically approved housing loan, permitted CPF use, cash downpayment, COV, BSD, legal charges and the remaining emergency reserve.
Then ask whether the household still wishes to exercise at the agreed price. The best purchase should remain financially manageable under a conservative result, not only under the most optimistic one.
Example: no COV at S$700,000
Suppose an eligible buyer agrees to S$700,000 and HDB’s relevant accepted value is also S$700,000. There is no positive price-versus-value gap.
But the buyer still needs the required downpayment, BSD, legal costs and financing approval. The absence of COV does not make the purchase 100% loan-financed or free of cash obligations.
A household should keep an emergency reserve rather than spend all remaining cash on renovation.
Example: S$20,000 COV
Suppose the purchase price is S$720,000 and the accepted value is S$700,000. The COV is S$20,000.
The buyer should calculate how the lower financing value affects maximum loan and CPF, then add the S$20,000 cash-only gap under the applicable rules.
If there is not enough cash after transaction fees and other expenses, the household may need to reconsider whether to exercise the option. An agreed price is not always affordable simply because it was negotiable.
Example: S$60,000 COV
A different property is agreed at S$850,000, but the relevant accepted value is S$790,000. The COV is S$60,000.
That is a substantial additional cash requirement before the family considers furniture and moving. A lender’s maximum percentage applied to S$790,000 will also be lower than the same percentage applied to the asking price.
The buyer should be willing to decline an unaffordable purchase in accordance with the actual OTP and financial consequences, rather than borrow informally or use unapproved funding.
Example: a short-lease older property
A young buyer considers an HDB flat with fewer years left on its lease. The accepted valuation may be close to the agreed price, so COV is small or zero.
However, CPF’s age-95 rule may still prorate the permitted OA usage, forcing extra cash even without COV. The buyer must run the separate CPF Housing Usage Calculator.
This illustrates why valuation alone is not the whole financing decision. Remaining lease can impose a different, independent limit.
Example: a cash-only buyer
A retired person is considering an eligible HDB resale flat using entirely cash, without CPF savings or a loan.
Under HDB’s current Request for Value guidance, that person generally does not need the financing-reference request. But the buyer should still assess market comparisons, stamp duty, remaining lease and future liquidity.
The person should not interpret freedom from the request as an official guarantee that the agreed selling price is fair.
Example: the buyer waits too long
A buyer receives the accepted value but delays submitting the resale application while the seller resolves another housing matter. More than three months pass after the result becomes available.
HDB’s current rules require a new Request for Value if the relevant resale application is not submitted within its three-month validity. The later value can affect the financing plan.
Early document preparation can prevent this. The buyer and seller should coordinate the prescribed application timetable rather than rely on a result that is about to expire.
Planning for 2027
A buyer searching in 2027 should obtain a current HFE letter before the resale OTP, shortlist suitable flats and establish a conservative maximum cash requirement for each candidate.
When a seller grants the OTP, submit the Request for Value by the next working day if CPF or a mortgage will be used, and wait for the result before exercising. Refresh the property comparison using actual accepted value rather than a guess.
Do not assume a 2026 transaction record or published S$120 fee remains unchanged forever. Verify HDB’s live instructions when the transaction occurs.
Planning for 2028
In 2028, the same principles apply with that year’s current rules and valuations. Some Toa Payoh flats will have less remaining lease, while household ages and CPF balances may also have changed.
Update every calculation using actual transaction dates. A two-year-old valuation estimate cannot establish an acceptable 2028 mortgage reference.
The buyer should choose a home for practical occupancy and sustainable finances, not a belief that future nearby development guarantees bankable value.
Common mistakes to avoid
Do not submit Request for Value before receiving the prescribed OTP. Do not miss the next-working-day deadline or assume it is available automatically through an agent.
Do not exercise before the result when the request is required. Do not assume the request can be reused indefinitely or for another buyer’s OTP.
Do not confuse price with valuation, treat COV as financeable using ordinary CPF withdrawal, or mistake the value result for HDB resale approval. Each mistake can produce avoidable cost or delay.
Frequently Asked Questions
### When must I submit a Request for Value?
Generally by the next working day after the seller grants the OTP, if CPF savings or a housing loan will be used.
### How much does HDB currently charge?
The published processing fee is S$120 including GST. Check the live amount for the actual 2027 or 2028 transaction.
### How long does the result take?
HDB says it is typically available within ten working days, but actual processing can vary.
### Can I exercise my OTP while waiting for the value?
HDB requires applicants who need a Request for Value to wait for its outcome before exercising the OTP.
### What is COV?
Cash-Over-Valuation is the agreed price above the relevant accepted value, if there is a positive gap.
### Can CPF savings pay COV?
Under the ordinary financing rules, COV must be planned as a cash requirement rather than being covered by additional CPF housing withdrawal.
### Is a Request for Value needed if I pay entirely in cash?
No, not when the buyer uses no CPF savings and no housing loan, according to HDB’s current service rules.
### How long is the value result valid?
Three months from the date it becomes available in My Flat Dashboard, with relevant resale applications to be submitted within that period.
### Does an accepted value guarantee a housing loan?
No. Income, debt commitments, age, lease and lender assessment still determine the actual mortgage.
### Does a Request for Value mean HDB has approved the resale?
No. HDB’s formal resale application and approval are separate requirements.
Official Sources and Further Reading
- HDB: Request for Value, next-working-day deadline, fee, valuation, validity and exercise rule.
- HDB: Resale Request for Value and required OTP information.
- HDB: Financing an HDB resale flat, CPF savings and loan value rules.
- HDB: HDB housing-loan affordability and LTV rules.
- CPF Board: CPF Housing Usage Calculator and property lease restrictions.
- HDB: Seller Intent to Sell and resale price research.
- eduKateSG: HDB versus bank mortgage comparison.
- eduKateSG: CPF remaining lease and age-95 housing limits.
- eduKateSG: Seller OTP and resale completion guide.
Your Next Step
Secure HFE first, then submit the correct Request for Value immediately after receiving the HDB resale OTP. Wait for the official result and calculate any COV, mortgage, CPF and transaction cash requirement before exercising. If the accepted value makes the home unaffordable, it is better to recognise the problem during the option period than after committing to the purchase.