The submission of resale application for HDB flats are as follows:
1. Buyers and sellers will have to submit their portion of the application separately. If you have engaged an agent, the agent can submit on your behalf
2. Either the buyers’ or sellers’ potion of the resale application may be submitted first. Once the first party has submitted his portion the second party will have to do so within 7 days. If not the application will be voided
3. Once the second party has submitted their portion, the application will be considered complete
4. With the completed resale application, HDB will then assess the buyers’ and sellers’ eligibility to buy/sell the flat based in the date the second party submits their portion of the application
5. Buyers and sellers will be able to check the status of the resale application through the HDB Resale Portal
From the looks of it, it appears that that seller has not submitted his application and may still be looking for a place.
Under Clause 12 of the OTP, you and the seller will agree on the timeframe to submit your resale application to HDB. This is a contractual agreement between you and the seller. The timeframe can be extended with mutual consent.
You can submit your resale application first and then inform the seller to submit within 7 days. However, from the looks of it, it appears the seller is not ready to submit his application. We advise you to check with the seller's agent when you can submit as otherwise the entire process will be voided.
Hope this answers your question.
1) It is best to closely coordinate with the sellers' agent for such a situation.
2) This kind of long time frame is not abnormal when sellers are applying ECF.
3) You had negotiated and agreed upon the essential terms in this OTP before you exercised.
4) You and sellers are now in a legally binding contract once you exercised the OTP.
5) The longest period I've come across on the time frame is 90 days, thus 60 days is not unusual.
6) The sellers' agent will need to seek your approval for any additional extension of time other than the 60 days inked in the OTP.
7) You have the right to reject if this is causing unnecessary inconvenience and monetary losses to you. Sellers have to go ahead to submit the resale application once this deadline is met.
8) To change this time frame, both sellers and buyers had to counter-sign on any changes in this OTP.
9) Both resale applications have to submit together for sellers.
10) You have to remind the agent what is your plan and your stand over this extension so that sellers will do their best to ensure this transaction will move on smoothly according to as per agreed.
11) Any breaching of this OTP will rises legal consequences.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636, or email: email@example.com if more information is needed.
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