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Dear buyer,

Usually, buyers are the one who put in the conditions upon making the offer to purchase a resale HDB, for the owners to consider, and not wait out for seller or seller agent to ask. While I do understand some agents may ask, like for me, it will usually be my routine to do so, and sharing the possible consequence of differing from the usual $1,000 and $4,000.

As for the original copy of OTP, as the procedure is seller granting the buyer Option To Purchase, to me, buyers should hold the original copy as soon as possible, but unlike private properties where the OTP is exercised at the buyer's law firm, resale HDB is done with the $4,000 paid direct to the seller when exercising, and there is no need for hard copy when applying for valuation or bank loan, I believe this could be just a way to facilitate the process. I will usually send the original to buyers, unless buyers' agent indicate for me to hold on to it.

I have been in the real estate business since 2009, with more than 14 years 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 client's 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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Warmest regards,
Geryl Lim
Senior Division Associate Director
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
 +65 92787772 
www.geryllim.com

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Hi, appreciate your sharing. All subject to both parties to negotiate. Good luck
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

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

Regarding your questions about the Option to Purchase (OTP) for a resale HDB flat:

1) **Option Exercise Fee:**

* **Mutual Agreement:** Yes, both buyer and seller must agree on the Option Exercise Fee amount. It is typically negotiated beforehand and included in the OTP.
* **$4,000 Norm:** While $4,000 is a common amount, it's not mandatory. You have the right to negotiate a lower amount with the seller's agent if you feel it's too high.

2) **Hard Copy OTP:**

* **Not Immediate:** There is no requirement for the hard copy OTP to be handed over immediately upon payment of the Option Fee ($1,000 in your case).
* **Soft Copy Sufficient:** A soft copy (e.g., PDF) of the OTP is legally valid as long as it contains all the necessary information and signatures.
* **Valuation & Signing:** The seller's agent's practice of waiting for the valuation and in-person signing is not unusual, but you can request a copy of the OTP earlier for your records and review.

**Recommendation:**

* **Communicate with Agent:** Reach out to the seller's agent to clarify the Option Exercise Fee and request a copy of the OTP as soon as possible. You can negotiate the fee if you deem it necessary.
* **HDB Guidelines:** Refer to the HDB website for detailed information on the OTP process and your rights as a buyer.

**Important Note:**

* **Valuation:** The valuation report is crucial for securing a home loan. Ensure you have the valuation done promptly after exercising the OTP.

Feel free to ask if you have any further questions.
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255

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