Dear sir/madam,
If you are referring to a resale HDB transaction. please take note of the following:
1) Option Money - Is a sum of up to $1,000 to be paid to the seller upon agreement of the selling price to secure the Option To Purchase. This is non-refundable as it is a fee to be paid to the seller where seller is legally obligated to sell the property to you within the option period of 3 weeks.
2) Option Exercise Fee - A sum of up to $4,000 to be paid to seller before the Option expires and this amount is usually negotiated as terms of the offer. This is also a non-refundable sum of money as both seller and buyer enter into a legal binding agreement for the resale transaction/
The only case where such funds are refundable is when HDB rejects the resale transaction.
Hope it clears your doubt and I highly encourage you to secure the services of a professional to go through the entire purchase transaction with you in order to safeguard your interest in the resale transaction. Commission is negotiable therefore it is best to strike a win-win scenario with your agent in terms of your interest and the commission payable.
Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main]
+65 6471 8888
[mob]
+65 81577565
[LDA]
+65 92787772
www.geryllim.com
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