Happy 2018 to you!
You can negotiate on the timeline for private transaction but norm is 2 weeks option period plus 10 to 12 weeks completion period (from exercise date) in which you will receive the sales proceeds on the completion date.
I had done 2 + 6 weeks before provided you dont need to serve 3 months notice to bank to redeem loan and both law firms are able to do so.
Hope my explanation helps!
May I know how can I continue to value add in your property sale?
What are your plans after this sale?
"Your Freehold Ally, Leasehold Tactician"
YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480
(M): +65 9111 5171
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The timeline can be negotiated but the typical timeline duration is 2 weeks option period plus another 10 to 12 weeks from Exercising of Option to Purchase, to completion appointment. The sale proceeds will be in a form of cheque or cashier's order during completion appointment.
May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
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Timeline for private can be flexible. If the Buyer exercises the OTP fast, and is able to go for faster completion, you may even be able to get your sale proceeds in 2 months time.
The typical transaction time from issuance of OTP to completion, is about 3 months time.
Should you need any 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 and your partner in the current market.
PropNex Realty Read More
First of all, a very Happy New Year to you and your family!
For your case, usually once the Option to Purchase (OTP) has been issued to the buyer, commonly they are given 14-21 days of option period to exercise the OTP. From the date of exercise, it will take another 8-12 weeks for the completion. So on the completion day, you can receive the cash proceeds. If you have used any CPF in the house, then the CPF will take about 14 days to be refunded back into your OA account. Sometimes it could be earlier also but for prudence in timeline planning we usually take 14 days.
If you have not started the sale of your house and you are also searching for a real estate adviser to assist you in the sale of your property, then maybe I can suggest that we can meet up for a coffee and discuss more about it. We can also take the opportunity to do a calculation for you. At the same time we can also provide you some advice on how the timeline needs to be planned.
My partner and myself have always pride ourselves as real estate advisers that places our client's interests above ours. Over time many of our clients have became our friends and many have also left testimonials for us. We were also featured in Council of Estate Agents (CEA) newsletter for Good Client Service. Personally I also won the SAEA Real Estate Excellence Silver Award for Best Client Service during the National Real Estate Congress in 2014. All these really goes to show how much we believe in client service. We believe that we will be able to provide the same level of service to you and hopefully even more. And we are sure that we can provide some good advice to you too.
Looking forward to hear from you soon! Cheers!
Associate District Director (Sincerus Division)
NAVIS Living Group - A group in OrangeTee that believes in Technology, Training & Teamwork (3Ts)
Founder of Sincerus Division
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As per your question , it would be approx 3months after a buyer commit to your property that is when you will get your cash proceeds .
Please factor in some time , generally another few months to market the property.
Kindly contact me Joanne chia Hp 8333 3327 for a no obligations chat for your property needs.
My charges are 1% commission for exclusive ( sole agent ) selling rights to your condo , or 2% for open listing ( many agents marketing ) .
Thank you .
Hp 8333 3327 Read More
The standard selling process is a 2 weeks option period followed by a completion period of 10 weeks. In a typical transaction, you will be able to receive your sales proceed in cash 12 weeks after granting the option. As for your CPF, it will usually take 1 more week to be credited into your OA account.
Having said that, private resale is flexible and the length of the option and completion period can be adjusted if all parties are agreeable.
Please feel free to contact me if you need further assistance!
(M) +65 9644 4854
Featured on Council for Estate Agencies (CEA) Newsletter:
Testimonial from Satisfied Clients (2016/2017)
“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
Peter & Wendy (Property Seller)
“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)
“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)
“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick) Read More