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Hi, considering to buy new condo from seller because we need to move in asap.

1. May I know whether if I put 1% deposit in Sep, can I request the buyer to on-hold OTP until mid Dec as we're waiting for cash proceeds to fund the 20%.

2. Can I ask for early move-in (Oct or Nov)? We don't mind paying 1-2 months rental fee, so we can do the renovation first, so after completion of the sale we can immediately move in?

3. Or do you have other suggestions for this situation?

Thank you in advance.
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6 Answers

Hi,

It appears you have specific requirements for the transaction, it would be ideal to engage an agent for the purchase so that the timelines, transition and financial plan can be smooth. By the way, do you mean you have started marketing your current unit and are waiting for the proceeds? In current market it takes more time to secure a buyer hence you might want to factor that into your property planning.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
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Hi, any terms and conditions are possible as long as both seller and buyer can agreed to it and by signing on the agreement form or to insert into the OTP. Since you are looking for a new condo, I do have a unit at Waterview and it is a Fire Sales. Pls kindly contact me to find out more before this unit is gone.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Dear Sir/Mdm,

It will be difficult to negotiate for such a long option period of 3 months unless the offered price is very attractive. This is because in this 3 months period, the seller will not be able to sell this unit to any other buyers. Therefore, under such an arrangement, typically seller will feel that they are disadvantaged and therefore will not agree to it.

It is advisable to get your funds back first before making an offer. If you need the place urgently, you can propose a shorter completion date.

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

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
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(W) www.nick-tan.com

Testimonial from Satisfied Clients (2015/2016)
“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
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“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
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“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
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“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”

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YT Tan (陈永达)
Good morning buyer,

It might be a better idea to have a representative to handle your property purchase for you.

Perhaps you can share more with me so I will be in a better position to advise and assist you.

1) have you sell off your existing property? If yes, when will all your funds be back?

2) Understand the legal proceeding of a private purchase?

- 1% to obtain OTP
- 4% to exercise OTP
- pay stamp duties within 2 weeks from exercise date
- pay balance 15% at least 2 weeks before completion

There might be a way for you to secure the unit first and make the balance 15%.

3) As it's a private transaction, you can make your requests but most likely you might have to come out with a higher option fee/ deposit in order for the sellers to accommodate to all of them especially require the sellers to move out as early as Oct and complete the purchase in a later date.

But it seems like its all dependable on your existing property sale.

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YT TAN 陈永达 | ACCA Graduate, RES
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Robbie Chen Chee Howe
Hi,

I roughly understand your situation, and I may be able to provide you with the necessary solutions.

Please contact me at my mobile 9748 6305  . I will be happy to assist.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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GAN ENG JOO ONASSIS
Dear Buyer,

Re: Today’s SG Professional Choice- SGAgent.com & SGRealtor.com

Upon you offer the 1%, the acceptance of the OTP you put only at Dec for most cases. Seller will have the times to show your OTP and cheques to all the buyers during sep to dec. Seller have the rights to return your OTP if better offer come in.

It still recommended that you wait till your funds come in then issues the OTP.

I am contactable at 92222389  or onassis@sgagent.com / sgrealtor.com

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

Onassis Gan | R021244C | Today’s SG Professional l SGAgent.com & SGRealtor.com

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