2 Answers

Hi, I would suggest that you have a good discussion with the seller agent as he or she would be able to advice you further base on a win win situation.

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aaronchong2774@yahoo.com.sg Read More
  • ID
    Hi, thanks for the reply. Any good suggestions on how to convince a win-win situation?
Dear sir/madam,

There is no standard answer or even solution to this issue you have described. Seller has the right to open up the unit to other prospective buyers should the Option To Purchase lapse. In the event that you proceed to exercise the Option To Purchase without having your HLE results approved, resulting in you having to abort the deal, seller also has the right to seek damages from you. Another set of appeal needs to be done to HDB for not following the right procedure in the resale process since HLE should have been granted before entering into the Option To Purchase.

My advise in such situation is to arrange a meet up with the sellers, disclose your situation with the sellers, and hope that seller will be kind enough to grant you a fresh set of Option To Purchase if HLE appeal results do not come before the expiry of the original Option To Purchase.

I had the previous experience where a DIY buyer made an offer to a unit I was marketing, where offer was accepted and Option To Purchase granted. HLE was only applied after they were granted the Option To Purchase, which was not the right procedure, therefore the purchasers had to write in to HDB to appeal and also HLE results and appeal was only given on 1 day before the Option To Purchase was expiring.

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 9,400 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.

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