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Hi. We have just signed an option to purchase form for a flat and paid 1k deposit. We have also agreed on an extension of 2 months. However, our agent just informed that seller needs to do contra. We were not informed earlier. Is this an acceptable procedure? Agent told me seller has shortlisted a few flats, they have not confirmed an unit yet. What if they cannot find their ideal flat, will it cause delay to our completion date?
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2 Answers

Hi,

Whether or not seller is doing contra, has nothing to do with you, unless you also required to apply for this "enhanced contra scheme.

You have to remind your agent to reaffirm with seller that only 2 mths extension was agreed and nothing more.
Seller has to shift once the 2 mths extension period is up.

We are not being nasty but agreement is an agreement. To be fair, you should not expect anything else other than what was agreed.

Best regards
Ling CK
 90110636 
Ling.ck7@gmail.com Read More
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  • S
    Hi. After we have submitted the OTP to hdb, will it affect our completion date if seller cannot find their flat or they confirm a flat late? Thank you.
Hi,

HDB will not get involved with your dispute with the seller. They merely process the paper work.

On completion date, HDB will request seller to handover the keys to buyer. Buyer to return the unconsumed property tax.

However, completion date has to be endorsed by both seller and buyer. If there are no agreement between both parties, you will not reach the end.

Your agent should assist you over this issue.

Hope the above answer to your main concerns, but if there are more queries, do not hesitate and feel free to contact me at 90110636 , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com

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