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Dear sir/madam,

I am assuming you did not engage professional services for this purchase transaction.

All purchasers who are looking to take up HDB loan should always have their HLE done and approved prior to entering into the Option To Purchase phase. As such, you are likely be facing issues when it goes on to the next stage when you exercise the Option To Purchase and submitting for resale application via the HDB Resale Portal,

Your alternative solution is to opt for a bank loan instead which can be done within a week or so if you have all relevant income documents and the valuation report. The main difference here is that your loan amount will be reduced to 75% maximum, and that you need to ensure you have sufficient cash and CPF for the 25%.

Otherwise, try appealing to HDB with regards to your situation to see if they can allow you to proceed with this transaction. Take note that any appeal to HDB is based on a case to case basis. The timeline taken for the appeal process maybe longer than the Option period of 3 weeks therefore there is a chance that you may lose the Option Money paid to the seller as the Option To Purchase expires after 3 weeks.

I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 8,500 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my clients’ portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

Please feel free to reach me from my website www.geryllim.com or connect with me directly on my mobile phone at 81577565  .

I look very much to hear from you soon.

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Regards,

Geryl LIM
Consultant - Director
Century 21
CEA Reg R014783H
www.geryllim.com
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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Hi, your OTP will likely be rejected by the HDB during the resale submission and the $1000 deposit be forfeited as well. So it be better for you to discuss it with the seller or the seller agent in order to achieve a win win situation for all parties.

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

Hi,

Hope all went well in your transaction.

1) Apparently you had registered "Intent to Buy" since you are able to apply for valuation.
You should have read all the instructions carefully.

2) You have 21 days to exercise this OTP before it expire.

3) There is a blank on page 4 of OTP indicate the number of days agreed between both parties to submit your resale application. Hope the days agreed is not too little for you to get your HLE on time.

4) All-in-all, you still have time to get your HLE. The only concern is whether the HLE amount is what you had expected.

5) If the amount in HLE is not sufficient to cover the loan, you will have to pay the difference by CPF and/or cash.

6) You are not able to submit your resale application without getting HLE or bank loan.

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com

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