5 Answers

askguru expert
Hi there, thanks for writing to us on AskGuru.

In this case, you will have to allow the Option to Purchase (OTP) to expire and re-issue a new OTP. The buyer will then have to apply for a new valuation.

To check the market value of resale HDB flats in your area, you can click on the following link: https://services2.hdb.gov.sg/webapp/BB33RTIS/BB33PReslTrans.jsp:

For more information, please refer to the following link https://www.propertyguru.com.sg/property-guides/hdb-valuation-sales-12882

Hope this answers your question.

Best Regards,

Team PropertyGuru Read More

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Geryl Lim
Dear sir/madam,

I am assuming that you are referring to a resale HDB transaction. If you buyer is willing to offer at $20k above the valuation done, both of you will need to enter into a new Option To Purchase and a new valuation request has to be submitted. It does not guarantee that the 2nd valuation will be the same.

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
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Aaron Chong
Hi, in this case, both seller and buyer will need to wait for the OTP to expire and then to redo a new one.

Regards
Aaron
9730 8455
aaronchong2774@yahoo.com.sg Read More

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Nick Tan
Dear Sir/Mdm,

You will not be able to amend the price using the current Option to Purchase document. So if the new price is agreed upon, you will need to wait for the current OTP to expire and then reissue a new OTP with the new agreed price.

The buyer will need to reapply for the valuation again but it is a good chance that the valuation will be the same as it is within a short term period.

Please feel free to contact me so that I can understand your situation better and assist you further!

Regards,
Nick Tan
(M) +65 9644 4854
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

Visit my website to get to know me better:
www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
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Lyna Song
Hi;

You wont be able to revise the selling price for the current Option To Purchase.. Need to wait for 21 days for it to lapse and reissue another Option and buyer will need to pay for the Valuation Report again and no guarantee that the next Valuation comes out will be the same price as its done by different valuers.Hope this helps.. Cheers..

Regards;
Lyna Song
9623 8442
Associate Group Director
Propnex Realty Pte Ltd
lynasong@hotmail.com
https://r025113i.propnex.net Read More

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