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I have purchased a HDB resale flat. It is the last step (application already approved by HDB), the completion date is coming soon (1 Jun). May I know if there is any possibility that the seller can withdraw the approved application? If it is able to, any cost against the seller? Or what will happen? TIA.
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1 Answer

Hi,

1) Instead of worrying, focus on what you should do now other than waiting.
2) Have you inspect the flat prior to completion? If not, you should put up a request to perform an inspection.
3) Ask some casual questions on where the seller is buying, or migrating overseas, etc. Seller answer might give you some hint whether they are going to run away with your deposit.
4) HDB is not going to intervene in any circumstances that the buyer or seller runs away from the deal.
5) You may read your OTP again on seller responsibility. If the seller runs away from the deal, you can bring it up to court as a civil case and sue for damages.
6) This is applicable to all property transactions in Singapore. Most of the transaction if not all takes up to 3 months or so for completion.
In fact, the current HDB transaction is considered quite consistent to be around 3 months compared to before 2018 which takes up to 5~6 months.

Hope the above answer to your main concerns, but if there are more query, please 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
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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