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Dear experts, In your dealings with HDB resale transactions, what is the percentage of buyers of resale flats exercise the option to purchase (OTP) before the 14th day? Is it common for buyers to wait till the last day before exercising the OTP?

So if you have 10 buyers, how many wait out the full 14 days?
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1 Answer

Lyna Song
Replied
Hi Temperance Carrot..

In HDB or even Private property transaction,usually the buyer do not wait until the last day (ie 14th day) to exercise the OTP.The 14 days period is for the buyer to get their loans approved,write in to CPF board in order to utilise their CPF monies and etc..

In most cases,the buyer will exercise the OTP once they get their loans approved.Usually takes about 5-7 working days.

In any event that the buyer does not exercise the OTP within the stipulated time frame,the seller are entitled to forfeit the deposit monies.

Feel free to contact me if you have any other queries..
Thanks

Rgds;
Lyna
 9623-8442 
lynasong@hotmail.com Read More
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