Hi Adrian,
Congrats on your house purchase!
For the exercising portion, it will be best to check with the seller's agent on the arrangements. But I will just brief you on the usual ways that buyers can pass the money to the sellers to exercise the OTP in a usual situation. The few ways that we can do that will be to meet up with the sellers to pass the exercise fee to them directly, we can also issue a cheque and pass the cheque to the seller directly or through the agents or we can just deposit the cheque for the sellers too. Another way which is getting very popular will be to do a bank transfer to the sellers. One very IMPORTANT thing to note will be, we CANNOT pass cash to the agents. Real estate salesperson are not supposed to handle real estate transaction monies. So if any realtors suggest for you to pass money to them and they will pass it to the sellers, that will definitely raise a red flag.
As currently we are in a SG Circuit Breaker, we will not be allowed to have any physical interactions. So if your exercise period falls within this time, then the best methods will be to do the bank transfer or to deposit the cheque for your sellers. Of course as mentioned at the start of this post, it will be good to check with the seller's agent on this also. I hope this answers your question. If you have anymore queries then please feel free to contact me and I can share more with you. No worries as there are no obligations at all.
Looking forward to hear from you soon! Cheers!
Best Regards,
Jeffrey Heng
Associate Executive Director (Sincerus Division)
OrangeTee and Tie Pte Ltd
NAVIS Living Group - The fastest growing group in OrangeTee that believes in Technology, Training & Teamwork (3Ts)
Mobile :
+65 9858 1322
Email : hengjeffrey@gmail.com
Web : www.sgpropertyadvisers.com
Founder of Sincerus Division
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