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Hi, I have exercised OTP for resale HDB and there is a 30 days dateline for submission of resale application via HDB portal.

The seller agent keeps delaying the current owner from submission of the resale application online, citing reasons that the current owner needs to find the next place of residence before submitting the resale application online.

As the buyer, may I know what can I do ?
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7 Answers

Hi, in the OTP it is stated that they have to do the submission within a certain number of days, and if it is within that period, there is nothing you can do regarding this situation.

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Joey Ong 王祖鸸
Dear Sir/Madam,

As u mentioned, its indicated 30 days.

Do you have a buyer agent to assist you? What was the agreement on OTP?

If not, you can always talk to the seller and his/her agent.

Of course, we can check out other possibilities too.

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  • Geryl Lim
    Buyer can engaged legal professional to claim damages against the seller for doing so as once option to purchase is exercised, it is deemed that both seller and buyer has entered into a legal binding process in this transaction, where HDB is the only party that can reject the transaction. In that scenario, the seller will be obligated to return all monies received from the buyer.
  • g***@hotmail.com
    Just curious, what will happen if the seller does not make the resale application online after the agreed 30 days ?

    Will the buyer get back the $5K ($1K + $4K Exercise fee) in such a scenario ?
As long as the seller side submits within 30 days, there is nothing wrong with it. As a buyer, if you cannot wait, then this should be negotiated as part of your terms and conditions when putting in the offer. The key thing is that once either the seller or buyer has submitted, the other party will have to submit within 7 days thus this require a coordinated approach. Read More
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Hi,

Perhaps there should have been some communication on that aspect, that they need to delay submission to find their next house. It is quite common for existing homeowners who are looking to concurrently sell & purchase and using the sale proceeds to buy. As it is already indicated in the OTP that it will be 30 days, the only thing you can do now is to see through this waiting period unfortunately.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

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Hi, appreciate your sharing. As already agreed only can await
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More
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Hi,

1) Both of you have to submit your resale application at the end of the 30 days latest as stipulated in the OTP.
2) By right, you have to submit your resale application on the 23rd day from the OTP exercise date.
3) The sellers must submit their resale application within 7 days of your submission.
4) Failure to comply with the terms in the OTP, the HDB has a right to reject the resale application.
5) You will have to get a private lawyer to seek advice on how and what kind of damages you may claim from the seller once the HDB rejects the resale application.
6) The seller's failure to find their next place of residence is not a concern to your purchase.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

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Seller's Flexibility: The seller has 30 days to confirm if they'll accept your offer.
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Mutual Agreement: Once one party confirms, the other must respond within 7 days.
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