2 Answers

Hi,

After OTP is exercised, next step is the resale application submission. When to submit depends on Page 4 of the OTP, which indicates how many days are planned for before the submission deadline expires. This is something you would have discussed with the seller prior to doing the OTP.

HDB only comes into the picture when they received a resale application submission from both buyers and sellers. So they don't need you to "prove" that the OTP is exercised because if no resale application comes in, they would take it as the house sale didn't materialize due to some reasons from the buyer or seller.

The extension you are talking about refers to another phase where sometimes seller stay beyond the completion. This is typically to allow them transition time to renovate their next home before handing over the unit to you.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

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  • p***@hotmail.com
    Thanks for ur info. The seller engage an agent but still have find house for the seller. So delay in resales submission
  • Ivan Ng
    Hi,

    You need to submit the resale application before your HFE letter expires, as it must be valid at the point of resale application. The same for your valuation report, which is only valid for 3 months. The seller's Intent to Sell must also be valid as well.

    Both you and the seller didn't engage any agent? The reason why they are delaying submission is to find the next house. They cannot exceed the total days indicated on page 4 of the OTP, about the submission timeline.
  • Ivan Ng
    hi
  • p***@hotmail.com
    Thanks.
    Now I have signed exercise otp. But the seller request few month later then submit resale appliacation. Then the exercise otp won't expire?
You will require to sign and date on the Option To Purchase when you exercise the Option To Purchase and a sum of not more than $4,000 will need to be transferred to the seller. You should hold on to the original copy while a scanned copy can be provided to the seller as record.

Not sure if you are a DIY buyer, but these should be easily handled by agent.

In case you are unaware, SPH is organising The Home Expo 2024 this coming September and OrangeTee is proud to be the presenter for this event where we have lined up a total of 16 speakers who will be sharing on the different market segments and topics during the 3 days event. Do register for the event if you are looking out for more insights of the real estate market at http://bit.ly/THE2024Geryl. Looking forward to see you at the event.

——

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.

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