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Dear madam,

Do you mean you have already exercised the Option To Purchase for your EM already? What do you mean that you have only 2 months left to sell? Do you mean the exclusive agreement to sell is going to expire in 2 months?

Open communication with your appointed salesperson is very important. I believe the salesperson wants you to sign a document that you have rejected an offer to be official. There are 2 months left and many things can happened. I have sold many units within period of 2 months too.

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Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B) - Century 21
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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Hi Ms Yip, you may wish to rope in a few agents to assist you further if time is not on your side.

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

Morning Ms. Yip,

Before you have choose to option and exercise the OTP for purchase, you should have consulted your agent. The timeline for both sales and purchase are critical especially in the case where you require the fund from sales to facilitate the purchase. Since you have made the decision to purchase the EM prior getting a buyer for the unit, I would deem that you are well aware of the risk.
As we all know, 3I model unit do not have ensuited bathroom in the master room. There are older in age and most of them do not come with store room. With the current market trend and festive season, you might be left with not much choices though...
Do note that should you fail to secure a buyer before the need to submit the OTP for the EM, this will definitely means that you have to prepare the cash difference. Failing to do so would means that your seller have the right to request for specific performance or sue you for compensation.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

I think it is a fixed situation that you have already exercised your Option To Purchase on your purchase of EM and the next thing to focus on will be getting your unit sold at a reasonable price to a buyer in time.

Has your appointed salesperson made arrangements for ongoing efforts in marketing despite being away? You may wish to discuss with her as soon as possible on what are the options moving forward since time is definitely not on your side, perhaps explore in engaging 1 or 2 more salesperson to work on getting a buyer fast.

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

Claim your free home report today at http://bit.ly/ClaimFreeReport.

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop/

New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/

My self introductory video on https://youtu.be/6UfrCOCB6Mg

Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B) - Century 21
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

G.A Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now! Read More

Hi Ms Lu,

You mentioned that you had exercised the OTP for your EM through your selling agent. In order to exercise your OTP, HDB requires that you have a valid hdb/bank loan letter ( unless you paying in full cash ). This loan would be of 50% of the purchase price if you have an outstanding loan or 80% if you do not have any other property outstanding loans.

I would assume thus that you have the means to see through and pay and complete the purchase of your EM without needing the funds from your sale of your 3I?

If the above is true, then you still have buffer, HDB will give you 6 months to sell your flat from the time of your official purchase of the EM.

If though somehow, you dont have funds to see through the purchase of the EM ( equity & loan ) and need the cash proceeds from the sale of your 3I to complete the purchase, then it would be more complicated.

rgds
Terrance Wong
Snr Marketing Director
Edmund Tie & Company Property Network
HP: 98593730  Read More