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Hi, if is it possible to use back the same valuation report if were to re otp? what is the complication of otp? can the seller back out after the buyer execise the otp?

Thanks in advance.
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4 Answers

YT Tan (陈永达)
Good morning buyer,

You will have to reapply for valuation if you decide to lapse your current otp and request for a new otp.

You have 3 weeks option period to consider. Once you exercise, sellers cant back out from the sale.

Hope my explanation helps!

Is there anything I can assist in your property purchase?

- Your Freehold Ally, Leasehold Tactician -

Like me on FB:www.facebook.com/yt.tan91115171

Warmest Regards,

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yt.tan91115171/ Read More
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  • AL
    Hi may i know, when signing the otp form, is it true that the exercising fee need to be stated and is fixed before exercising the option? Anyway to re-otp without paying the option fee again?
Hi,

Each OTP (ie. transaction) is unique and requires an unique valuation report, hence you can't reuse the valuation report. It is at best a guide for the next price negotiation. After Buyer exercises the OTP, its legally binding and both parties cannot back out.

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
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/clientreviews
(Client's Testimonials)

-- HDB Flat Sellers Uncle "Seng" and Mdm. Png ---

Translation from Mandarin:

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We decided to engage Ivan as our agent as we were impressed with how he answered the enquiries on property guru website.

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When it comes to selling of our unit, he was always prompt in arranging for viewings and he also tried his best to arrange and consolidate the viewings due to our time constraints. He is a reliable and prompt agent and is always willing to clarify any concerns and questions that we have.

Thanks Ivan! :) Read More
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  • AL
    Hi may i know, when signing the otp form, is it true that the exercising fee need to be stated and is fixed before exercising the option? Anyway to re-otp without paying the option fee again?
Hi, seller cannot back out once the buyer exercises the OTP. If seller do so, the buyer has the right to sue and to get some form of compensation.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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YT Tan (陈永达)
Good evening buyer,

All the information must be filled up when sellers grant option.

You can discuss with the sellers on the amount of option and exercise fee. Minimum $1 option fee, maximum $5k deposit fee.

- Your Freehold Ally, Leasehold Tactician -

Like me on FB:www.facebook.com/yt.tan91115171

Warmest Regards,

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yt.tan91115171/ Read More
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