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Hi Property Guru, my question is:
For resale HDB, after seller and buyer agreed with a price, they will sign OTP and next is HDB valuation. After valuation (price maybe too high or too low), both seller and buyer wants to revise the price, is it possible? if yes, how to go about?
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4 Answers

Hi, nope it is not possible to change the pricing of the OTP. The proper way is to wait for the current OTP to lapse and then do another new set of OTP.

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

Yes this is possible. Just wait for the current option to lapse and reissue another option to purchase to the same buyer at the new price. The buyer will need to apply for the valuation again.

Please feel free to contact me if you have any other questions!

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Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

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Hi

By right, HDB does not allow any parties to revise on the price once valuation has already been done. However the common practise is or both sellers and buyers to wait for the OTP to lapse and seller reissuing a new OTP on the agreed price to the buyer. Valuation for the house has to be made again and do note that valuation price might not be the same as what was provided previously. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
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Robbie Chen Chee Howe
Hi,

It is not possible to revise the price on the existing OTP. If both parties agree to another price, they can wait for the 21 days to lapse, and then ink another set of OTP, and redo the Valuation process again.

Do take note that the Valuation may or may not be the same as before.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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